KLCI plunges below 1,600 points on sanctions against China

BURSA Malaysia’s key index finished at its intra-day low today for the second consecutive day, losing 1.32%, while the broader market sentiment remained bearish. 

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slumped below 1,600 points and lost 21.44 points to 1,595.20 points. Yesterday, it also finished at the day’s low of 1,616.73.

The index opened 0.05 of-a-point better at 1,616.78, which turned out to be its highest for the day.

Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said Tuesday wreaked havoc across Asian markets, including the FBM KLCI, on investor jitters over the sanctions imposed by the US, the European Union, Britain and Canada against Chinese officials for alleged human rights abuses against Uyghur Muslims in Xinjiang.

On the broader market, losers thumped gainers 860 to 315, while 420 counters were unchanged, 615 untraded and 11 others suspended.

Total volume fell to 7.05 billion shares worth RM4.04 bil from 7.57 billion shares worth RM3.99 bil on Monday. – March 23, 2021

 

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