The FBM KLCI continued its decline, breaching the key support level of 1,490-1,500, driven by heightened investor concerns over the potential repercussions of an escalating global trade dispute.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices were mostly lower as investors navigated uncertainties stemming from potential economic slowdowns.
At 5 pm, the FBM KLCI dropped 35.32 points, or 2.32 per cent, to 1,484.83 from Tuesday’s close of 1,520.15. The index recorded close to 10 per cent loss on a year-to-date basis.
The market bellwether opened 15.44 points lower at 1,504.71, and fluctuated between 1,478.84 and 1,505.33 throughout the day.
On the broader market, decliners thumped advancers 659 to 297, while 469 counters were unchanged, 964 untraded, and seven suspended.
Turnover fell to 3.09 bil units worth RM3.37 bil from 3.71 bil units worth RM3.29 bil on Tuesday.—Mar 12, 2025
Main image: New Straits Times
