FBM KLCI - lower on heavy selling pressure

Stocks on Bursa Malaysia closed lower across-the-board yesterday amid weaker buying momentum with sentiment dampened by fear of a global economic slowdown, and the market was expected to remain under pressure unless new measures to bolster the US economic growth really materialised. At the close, the FBM KLCI declined 11.18 points, or 0.68%, to 1,623.91 after hovering between 1,621.31 and 1,638.65 throughout the day. Losers outpaced gainers by 448 to 274 while 369 counters closed unchanged. Total volume decreased to 1.15 billion shares worth RM1.82 billion from Wednesday’s 1.32 billion shares worth RM2.49 billion. Read more...