KUALA LUMPUR, June 25 — Bursa Malaysia ended the day lower on continued selling in heavyweights, and in line with other stock markets across the region, as investors remained on the sidelines amidst the bearish economic outlook. The benchmark FTSE Bursa Malaysia KLCI (FBM...
Bursa Malaysia ended the day lower on continued selling in heavyweights. — Picture by Firdaus Latif
The index opened 8.19 points weaker at 1,494.40 and moved between 1,484.40 and 1,498.61 throughout the session. A dealer said that investors were concerned over the International Monetary Fund’s latest forecast on global economic growth, after revising it downward to a contraction of 4.9 per cent for 2020, lower than the 3.0 per cent fall it predicted earlier in April.
On the local front, he said that the market was influenced by the World Bank’s latest Malaysia Economic Monitor report released earlier today, wherein the bank had lowered Malaysia’s economic outlook forecast for 2020 to -3.1 per cent from its projection of -0.1 per cent earlier in April. The FBM Emas Shariah Index decreased 114.15 points to 11,886.82 but the FBM ACE gained 40.37 points to 6,143.29.
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