KUALA LUMPUR, March 23 — Bursa Malaysia ended the day sharply lower following the continuous decline in global oil price, amid spiralling concern over rising fatalities associated with Covid-19 pandemic. At the close, the main index; the FTSE Bursa Malaysia KLCI (FBM KLCI) was 43.40 points lower...
Bursa Malaysia ended the day sharply lower following the continuous decline in global oil price, amid spiralling concern over rising fatalities associated with Covid-19 pandemic. — Picture by Hari Anggara
From the overall indexes on the local bourse, the medium and small-sized capital stocks came under intense selling pressure throughout the trading day. “Energy is worse affected due to the sharp decline of oil price, while property and construction sector relies on domestic demand which is heading towards an intense downtrend throughout the year due to economic slowdown,” she said.
On the KLCI, Public Bank and Hartalega were the only two counters that ended in positive mode, gaining 20 sen and six sen each to RM12.70 and RM6.68.All Petronas related counters remained under pressure due to drastic decline in global oil price with Petronas Chemicals was 16 sen lower to RM4.27, MISC down four sen to RM7.40, Petronas Gas lost 42 sen to RM15.26 and Petronas Dagangan reduced 76 sen to RM19.24.
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