Public Bank weighs on KLCI, ringgit weakens

KUALA LUMPUR: Public Bank on Wednesday saw its share price sliding to a low of RM17.68 – lowest since Sept 4 – on concerns about a weakening economic global growth, which was affirmed by the slowdown in China’s manufacturing output, and slower domestic growth.

The fall in the bank’s share price also erased 2.85 points from the KLCI. Other major banks which had recently come under selling pressure under the volatile market conditions included CIMB, RHB Cap and AmBank.