Over the past week, Bursa traded in a range-bound mode, mainly influenced by the overnight Wall Street performance, Covid-19 news, crude oil prices, Fitch Ratings’ revised outlook on Malaysia from 'stable' to 'negative' and the government's latest stimulus package worth RM10 billion. ― Picture by Ahmad Zamzahuri
Furthermore, he said, the decision to allow some sectors of the economy to be operational should help mitigate the output loss to the economy, thereby reducing the risks of further economic contraction. He said the 10 million barrel per day production cut does not make make any drastic changes to the price as the demand for crude oil has collapsed since countries began restricting passengers from travelling.
On the scoreboard, the FBM Emas Index advanced 216.67 points to 9,392.05, the FBMT 100 Index increased 200.01 points to 9,288.66 and the FBM Emas Shariah Index jumped 301.67 points to 10,363.11. Weekly turnover expanded to 26.39 billion units worth RM12.56 billion from 21.58 billion units worth RM12.43 billion recorded last Friday.
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Source: malaymail - 🏆 1. / 86 Read more »
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