KLCI tumbles 20 62 points; over 950 stocks in red thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR: CTOS Digital’s impressive debut on the Main Market on Monday gave some hope to investors as market sentiment was cautious, weighed down by the Covid-19 pandemic, political concerns and weaker economic growth.
At 9.22am, the FBM KLCI was up 0.05 point to 1,522.53. Turnover was 634.63 million shares valued at RM473.96mil. There were 242 gainers, 269 losers and 356 counters unchanged.
Bloomberg reported Asian stocks and US futures fell early Monday on concerns about the impact of elevated inflation and Covid-19 outbreaks on economic prospects. Treasuries climbed and oil slipped after an Opec+ supply deal.
Shares fell in Japan, Australia and South Korea. U.S. futures dropped after the S&P 500 fell for the first week in four.
KUALA LUMPUR: Public Bank, Maybank, IHH Healthcare and Sime Plantations dragged the FBM KLCI into the red at the close on Friday on rising Covid-19 cases and weaker commodity prices.
At 5pm, the KLCI was down 8.7 points or 0.53% to 1,627.01. Turnover was 5.85 billion shares valued at RM4.06bil. The broader market was mixed with 512 gainers, 571 losers and 480 counters unchanged.
The ringgit dipped 0.01% against the US dollar to 4.0370.
The recent surge in Covid-19 infections saw the government imposing a second round of Movement Control Order to curb the spread of the pandemic.
CGS-CIMB Equities Research estimates the daily economic losses due to the second round of Malaysia’s Movement Control Order (MCO), which takes effect from Jan 13 to 26, at RM750mil.