Bursa bounces from three-month low after Malaysia resists full lockdown Azanis Shahila Aman
KUALA LUMPUR: Malaysia s stock exchange yesterday climbed from a three-month low and a 30-point loss since early this month after the government resisted imposing a full lockdown to avoid derailing a nascent recovery in the economy.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 9.65 points or 0.62 per cent to end at 1,571.82 today from 1,562.17 at last Friday s close.
At 9.06am, FBM KLCI was up 3.34 points, or 0.21 per cent, and continued climbing until mid-morning, gaining 12.89 points or 0.83 per cent higher to 1,575.06.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said a full lockdown would affect the nation s growth trajectory.
Prime Minister Tan Sri Muhyiddin Yassin expects the country's economic situation to improve this year, in line with the government action and the recovery of economic activity and world trade despite the Covid-19 pandemic.