Market sentiment takes a hit as Tenaga slumps

KUALA LUMPUR: Malaysia’s blue chips index, the FBM KLCI, closed down more than 20 points on Monday as market sentiment took a hit on worries Tenaga Nasional may buy 1MDB’s power assets at lofty prices while the broader market was weak with declining stocks beating advancers more than six to one.

Adding to the woes of the local market was in the afternoon session on news about the fall in European equities, tracking Friday's losses on Wall Street, on growing worries about Greece.

Other top losers of the day were Sime Darby, Petronas Daganagan and KL Kepong while the ringgit weakened against the US dollar.