Wong believes the dip in the FBM KLCI is a short-term reaction to Chinese economic data.
PETALING JAYA: After a strong start to the week, Bursa Malaysia’s leading index the FBM KLCI extended its losing streak from Tuesday to settle at 1,479.18 yesterday, down by 12.03 points or 0.8% as fund managers attributed the lacklustre showing to perceivably weak economic numbers from China in its fourth quarter of last year (4Q23).
On Monday, the FBM KLCI closed at 1,501.11 points, the second time since Aug 30, 2022 to settle above the psychological support barrier of 1,500.
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