REVIEW: Despite a steadier Wall Street overnight, Bursa Malaysia kicked off the week on a soft platform, with the FBM KLCI skidding 0.83 point to 1,759.10, extending the previous session’s declines amid follow-through liquidation.
The underlying tone of the market was decisively cautious while blue chips traded lacklustrely in early session, spooked by a steep fall in crude oil prices, which witnessed the black commodity tumbling US$1.29, or 2.8%, to US$44.23 per barrel the previous Friday amid doubts over efforts by producers to curb global oversupply.
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