Monday, 24 Feb 2020 06:16 PM MYTThe FBM KLCI closed at 41.14 points or 2.69 per cent lower at 1,490.06 today, the lowest point since 2011’s 1,500.91. — Picture by Hari Anggara
KUALA LUMPUR, Feb 24 — The FBM KLCI closed at 41.14 points or 2.69 per cent lower at 1,490.06 today, the lowest point since 2011’s 1,500.91. The KLCI already took a hit this morning with a drop of 26.48 points at 1,501.47 at the opening and continued to tumble throughout the day. At noon, it was at 1,492.26 points.
At 5pm, the market breadth turned negative with 1,015 losers and 138 gainers while 222 counters traded unchanged.This is in the wake of Malaysia’s political uncertainty following the resignation of Tun Dr Mahathir Mohamad as prime minister while talks of a new coalition to take over from Pakatan Harapan continue to circulate.The ringgit traded at RM3.0128 against the Singapore dollar at 5pm today, the lowest in two weeks after closing at below the RM3.00 market since February 5.
“While ringgit movements will continue to be market determined, BNM’s market operations will ensure sufficient liquidity and orderly financial market conditions,” it said in a brief statement.