FBM KLCI extends losses to a third day in a row on weak sentiment

PETALING JAYA: Weak sentiment following a sharp drop on Wall Street overnight spurred a fresh round of selling on the local bourse yesterday as the FTSE Bursa Malaysia KL Composite Index (FBM KLCI) extended losses to a third day in a row after it reached a record high on Dec 30.

Regional markets were under pressure, with Hong Kong the worst hit, as weaker Chinese service industries data fuelled concern the world’s second-biggest economy is slowing.