Stocks on Bursa
Malaysia closed sharply lower yesterday on panic selling after Standard and
Poor’s said it may cut Malaysia’s sovereign credit rating if the government did
not deliver promised reforms to cut spending to reduce its fiscal deficits. Malaysia’s
ranking slippage in the latest World Economic Forum’s Competitiveness Index
2012-2013 also gave investors the excuse to close bets and take profits ahead
of the potential budget and local election. The FBM KLCI lost 23.02 points or
1.40% to close at 1,617.99 after opening 7.42 point lower at 1,633.59, and hovered
between 1,613.16 and 1,635.95 throughout the day. Losers beat gainers by 739 to
157, while 241 counters were unchanged. Total turnover declined to 1.30 billion
shares worth RM1.99 billion from Wednesday's 1.35 billion shares worth RM1.7
billion. Read more
No comments:
Post a Comment