Home English News Business KLCI tumbles 20.62 points; over 950 stocks in red

KLCI tumbles 20.62 points; over 950 stocks in red

KLCI tumbles 20.62 points; over 950 stocks in red

KUALA LUMPUR: The FBM KLCI ended the day in red, dampened by across-the-board selling, bucking regional gains.

At closing, the 30-stock index tumbled 20.62 points, or 1.33% to 1,527.89 after moving between 1,547.67 and 1,526.90.

Market breadth was negative as decliners overpowered gainers on a ratio of 951-to-194 stocks. About 4.68 billion shares, valued at RM2.90bil, changed hands.

Dealers said the market may be turning oversold soon and likely to expect bargain hunting activities to emerge.

In today’s session, only three of the KLCI-component stocks closed higher while 23 counters traded lower and four counters remained unchanged.

Maybank rose five sen to RM8.30, Axiata added four sen to RM3.95 and Petronas Chemicals climbed one sen to RM7.95.

Key losers on the FBM KLCI were Petronas Gas, down 52 sen to RM16.86, Kuala Lumpur Kepong fell 36 sen to RM19.88 and Sime Plantations shed 35 sen to RM3.45.

Hartalega lost 30 sen to RM6.10 and Top Glove gave up 25 sen to RM2.81.

On the broader market, PMB Technology jumped RM1.86 to RM9.30, Econ Credit rose 20 sen to RM12.10 and Eurospan added 20 sen to RM1.36.

Genetec tumbled RM1.82 to RM34.20, MPI shed 70 sen to RM44.20 and F&N lost 56 sen to RM27.

On the external front, MSCI’s broadest index of Asia-Pacific shares outside Japan slid 1.7%.

Japan’s Nikkei 225 closed up 0.58%, Hong Kong’s Hang Seng Index fell 3.3%, South Korea’s Kospi rose 0.33% and China’s Shanghai Composite Index added 0.19%.

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