KUALA LUMPUR: Malaysia's FBM KLCI ended Thursday lower, after it fell sharply in line with the weaker regional markets as investors are cautious after the Asian equities tumbled on news that the World Bank has cut its global growth forecast.
At 5pm, the KLCI plunged as much as 32.25 points to 1,742.87. Turnover was 2.13 billion valued at RM2.795bil. Losers outpaced gainers 803 to 142 and 186 were unchanged.
Maybank dragged the index by erasing 6.53 points, Genting Bhd 5.44 points and TNB 2.68 points.
Bloomberg reported Asian stocks plunged, with the regional benchmark index erasing this year's gain and poised to enter a correction as the World Bank cut its global economic growth forecast. Japan's Nikkei 225 Stock Average and a gauge of Chinese shares in Hong Kong fell more than 20% from recent highs
Banks were among the major losers with Maybank down 42 sen to RM10.04, HLFG 38 sen to RM14, AMMB 21 sen to RM7.05, Hong Leong Bank 18 sen to RM13.78 and Public Bank six sen to RM16.96.
Crude palm oil fell RM8 to RM2443. KL Kepong shed 46 sen to RM21.22 and Felda Global one sen to RM4.49.
Petronas-linked stocks also fell with PetChem down 19 sen to RM6.36, PetDag six sen to RM25.02 and PetGas 38 sen to RM20.84.
Among telcos, DiGi fell one sen to RM4.68, Maxis one sen to RM6.75 and Telekom two sen to RM5.42.
Gainers were F&N, up 42 sen to RM18.90, GAB 36 sen to RM21.28 and Amway 16 sen to RM12.16.
The ringgit weakened against the dollar at 3.1335 from 3.1328 from the previous close.
Among the key regional markets:
Japan's Nikkei 225 fell 6.35% to 12,445.38;
Hong Kong's Hang Seng Index fell 2.19% to 20,887.04;
Shanghai's Composite Index fell 2.74% to 2,148.35;
Taiwan's Taiex fell 2.03% to 7,951.66;
South Korea's Kospi fell 1.42% to 1,882.73 and
Singapore's Straits Times Index fell 0.74% to 3,130.24.
US light crude oil fell 61 cents to US$95.27 and Brent fell 54 cents to US$102.95
Spot gold fell US$1.19 to US$1,387.83