Stocks on Bursa Malaysia closed sharply lower yesterday on heavy foreign selling amid mixed regional stock markets. The benchmark stock index fell more than two percent and headed for its worst single-day drop in more than 16 months as worries over the country’s upcoming general election sparked selling across the board. Intense speculation about the election date and the slight possibility that the long-ruling Barisan Nasional government may be unseated is leading some investors to take profits on recent gains. The FBI KLCI was down as much as 40.81 points or 2.43% at 1,635.63, its biggest one-session loss since falling 2.5% on Sept 26, 2011, and bucking slight gains in other Southeast Asian stock markets. Losers led gainers by 904 to 85 while 172 counters were unchanged. Volume rose to 1.83 billion shares worth RM2.61 billion from 1.10 billion shares worth RM1.566 billion last Friday.
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