FBM KLCI continues slide for 6th straight day

KUALA LUMPUR: The outlook on the domestic market deteriorated over the morning session as the FBM KLCI slipped further amid continued selling pressure.

At 12.30pm, the country's key index was down 7.24 points to 1,548.02, en route to a sixth straight day of declines.

This comes despite a recent return of foreign investment funds following the easing of the country's restrictions.

By weighting on the blue-chip index, Petronas Chemicals was a leading laggard, dropping seven sen to RM7.94 followed by Sime Darby Plantation sliding eight sen to RM3.78 and Tenaga Nasional falling eight sen to RM9.92.

Bank stocks were wobbly with Hong Leong Bank down six sen to RM18.72 and Maybank shedding two sen to RM8.27.

Healthcare counters bucked the overall trend, rising nine sen to RM6.67, while Top Glove was also up two sen to RMRM3.22

Meanwhile, telcos sank with Axiata down three sen to RM3.95, Digi slipping three sen to RM4.47 and Maxis edging one sen to lower to RM4.69.

Among top actives on Bursa, KTG was unchanged at 14 sen, Emico surged `13 sen to 65.5 sen and AT Systemization slipped 0.5 sen to six sen.

In Asia, major equities markets fared better as prices stabilised following concerns over China's tighter regulations.

Japan's Nikkei rose 0.5% while South Korea's Kospi was mostly flat.

While Hong Kong's Hang Seng bounced 0.4% after suffering sharp losses on the back of embattled China Evergrande Group, China's main index was down 0.6% amid ongoing concerns over underperforming economic data.

Australia's ASX200 was down 1%.
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Bursa Malaysia , FBM KLCI , equities


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