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Bursa Malaysia ends lower as MCO weighs heavy on market

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Losers outnumber gainers 980 to 199 but good new is a smaller contraction in Q1. FMTNews BursaMalaysia

Bank Islam Malaysia Bhd economist Adam Mohamed Rahim says the implementation of MCO nationwide has badly affected the overall market sentiment.

At 5 pm, the benchmark FTSE Bursa Malaysia KLCI eased 6.28 points or 0.39% to 1,577.64 from Monday’s close of 1,583.92. Total volume decreased to 5.5 billion shares worth RM2.9 billion from 6.01 billion shares worth RM3.53 billion on Monday. Governor Nor Shamsiah Mohd Yunus said Malaysia remained on track to achieve its forecast GDP growth of between 6.0% and 7.5% in 2021, riding on the recovery in domestic demand.

Among the heavyweights, Maybank shed five sen to RM8.19, PChem trimmed three sen to RM8.22, IHH Healthcare lost eight sen to RM5.58, while Public Bank was flat at RM4.10. Heavy selling was also spotted among the small capitalisation stocks which saw the FBMSCAP Index dipping 376.6 points to 16,475.04.

 

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Bursa Malaysia ends lower as nationwide MCO weighs on market | Malay MailKUALA LUMPUR, May 11 — Bursa Malaysia closed lower for the second consecutive day today with selling spotted across the board as the nationwide expansion of the movement control order (MCO) weighed on market sentiment. Nevertheless, the better-than-expected first-quarter 2021 (Q1 2021) gross...
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