KUALA LUMPUR, Nov 22 — Bursa Malaysia extended its downbeat mode for the second consecutive day today as market sentiment continued to be weighed by the latest developments in the local political scenario amid a weak external front.
Despite the weak opening, the FBM KLCI started the day higher on bargain hunting activities but the momentum declined thereafter as cautious sentiment emerged to curb investors’ risk appetite. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI remained in negative territory as investors were still wary amid the ongoing uncertainty over the formation of a new government.
The Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah has ordered the leaders of Pakatan Harapan and Perikatan Nasional for an audience at Istana Negara this afternoon as no member of the Dewan Rakyat received a simple majority to be appointed as the Prime Minister as provided under Article 43 of the Federal Constitution.
Among heavyweights on Bursa Malaysia, Public Bank and IHH Healthcare trimmed four sen each to RM4.29 and RM5.92 respectively, while Maybank and CIMB were flat at RM8.54 and RM5.51 respectively.As for the actives, Advance Synergy perked two sen to 18 sen, Eden was down two sen to 17.5 sen, Malayan United Industries was flat at 10 sen, and Dagang NeXchange rose four sen to 61 sen.
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