FBM KLCI - lower on continued selling pressure

Stocks on Bursa Malaysia ended lower yesterday on heavy selling across the board particularly of blue chips. The local bourse remained bearish with sentiment continuing to be plagued by the weakening ringgit against the greenback, slowdown in China’s economy, devaluation of the Chinese yuan, weakening of oil prices, and nagging domestic concerns. Asian equities were mostly lower, weighed down by the possibility of China allowing the yuan to depreciate further. The FBM KLCI fell 24.28 points or 1.52% to 1,572.54 after hovering between 1,569.19 and 1,594.46 throughout the day. Losers trounced gainers by 836 to 149 with 215 counters unchanged. Total volume rose to 2.06 billion units valued at RM1.95 billion from 2.01 billion units valued at RM2.2 billion last Friday. Read more >>