KLCI falls 11.94 points, ringgit surpasses 4.6-level


KUALA LUMPUR: Bursa Malaysia extended its downtrend for the fourth consecutive day on Monday, with the benchmark index declining by 0.84%, in line with the weak performance of regional bourses.

At 5 pm, the index closed down 11.94 points to 1,413.04, its lowest since mid-July.

All indices on Bursa Malaysia were down. Bursa Malaysia Energy index is the worst hit, falling 30.29 points or 4.25% to 682.35 points.

Market breadth turned negative as losers overpowered the gainers on a ratio of 780-to-164 stocks. Traded volumes stood at 2.12 billion shares valued at RM1.85bil.

At 5.15 pm, the ringgit was quoted at 4.6007, down 0.48% against the US dollar.

The local currency was up 0.29% against the euro at 4.4572. It rose 3.26% against the pound sterling at 4.9481 and rose 0.14% against the Singapore dollar at 3.2093.

Reuters reported that Asian currencies and stocks fell on Monday, with most currencies hitting multi-year lows against the dollar, as the U.S. Federal Reserve's hawkish monetary policy stance stoked economic slowdown fears and raised the greenback's safe-haven appeal.

The dollar, which had earlier reached 114.58 for the first time since May 2002 and was up about 20% so far this year, is also being strengthened on the back of a hawkish Fed and its "higher for longer" stance on policy tightening.

Among the losers on Bursa Malaysia, Kuala Lumpur Kepong tumbled RM1.16 to RM20.48, Batu Kawan shed RM1.12 to RM20.08, Panasonic Manufacturing lost 74 sen to RM22.82 and United Plantations fell 36 sen to RM14.28.

Dutch Lady jumped RM1 to RM32.20, F&N added 70 sen to RM22.30, PPB advanced 20 sen to RM15.92 and IHH Healthcare gained 15 sen to RM5.95.

Elsewhere in the region, Japan’s Nikkei Stock Average fell 2.66%, Hong Kong’s Hang Seng Index eased 0.44%, South Korea’s Kospi closed down 3.02%, China’s CSI 300 index lost 0.5% and Singapore’s Straits Times Index eased 1.4%.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

KLCI , Bursa Malaysia , FBM KLCI

   

Next In Business News

Asia's factory activity shrinks as China lockdown impact widens
Top Builders fails to submit quarterly report, remains suspended
Malaysia's manufacturing PMI falls to 47.9 in November
Ringgit extends gains against US dollar at market open
Quick take: Pesona Metro sees quiet trade despite takeover offer
Panasonic Manufacturing, MPI top gainers in early trade
Trading ideas: Celcom-Digi, MAHB, Capital A, Public Bank, CIMB, AMMB, FGV, BCorp
Perseverance pays off for resilient exporters
India growth likely to slow on price pressures
Surging Covid cases dampen China economic outlook

Others Also Read