FBM KLCI - lower on continued selling pressure

Stocks on Bursa Malaysia closed lower yesterday on the back of the weakening ringgit and tracking the regional peers after China’s central bank devalued its yuan by 2%. Asian shares erased earlier gains following positive lead from Wall Street’s overnight rally as investors weighed China’s surprise move to allow its currency to fall against the US dollar to boost export. At close, the FBM KLCI fell 17.66 points or 1.07% to 1,636.71 after moving between 1,635.77 and 1,661.62 throughout the day. Losers led gainers by 529 to 290 with 346 counters unchanged. Total volume rose to 1.99 billion units valued at RM2.07 billion from Monday’s 1.91 billion units valued at RM1.99 billion. Read more >>