BLOODBATH across regional stock markets dragged Bursa Malaysia lower on Monday, led by technology stocks, primarily due to fears of a recession in the United States, a dealer said.
The negative sentiment today affected all regional peers, with a steep fall seen in Japan’s Nikkei 225 Index, which dropped over 4,000 points or over 12%.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 74.57 points or 4.62% to 1,536.48 from Friday’s close of 1,611.05.
The market bellwether opened 17.69 points weaker at 1,593.36 – its highest level today – before falling to as low as 1,532.24 during the mid-afternoon session.
On the broader market, losers thumped gainers 1,658 to 83, with 131 counters unchanged, 533 untraded, and eight others suspended.
Turnover soared to 9.26 billion units worth RM7.97 bil from Friday’s 5.17 billion units worth RM3.98 bil. – Aug 5, 2024
