Late selling sees KLCI slump to lowest since June 26

The KLCI was the worst performer among the key Asian markets as Petronas-related stocks fell due to the dip in crude oil prices while banks, the proxy to the economy, closed lower.

KUALA LUMPUR: Selling pressure accelerated on Bursa Malaysia on Wednesday as rising Covid-19 cases and the fallout on the economy saw the FBM KLCI close down at its lowest since June 26 while the ringgit weakened.

At 5pm, the KLCI was down 19.91 points or 1.32% to 1,489.56 – with most of the losses in the last half-hour. Turnover was 5.25 billion shares valued at RM3.61bil. The broader market was firmer with 637 gainers, 373 losers and 416 counters unchanged.