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KUALA LUMPUR (September 23): The FBM KLCI fell 0.62% today amid news of a possible change in the Malaysian government, while other uncertainties, including concerns about the global economic recovery, had spooked investors in Asia.
At 5:00 p.m., the index registered a fall of 9.3 points to close at 1,496.48 points, dragged down by falls in the top heavyweights, including Public Bank Bhd, Malayan Banking Bhd and CIMB Group Holdings Bhd.
“There is concern that there may be a change in government, which has probably affected confidence,” said Kenanga Investment Bank head of research Koh Huat Soon.
Datuk Seri Anwar Ibrahim said today that he had obtained the “formidable and convincing” support of members of Parliament (MP) to form a new government to replace the ruling Perikatan Nasional (PN) government, although he did not indicate the actual number of deputies who support it. .
He added that he had received consent to have an audience with Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah.
Bursa Malaysia saw some 8.45 billion shares traded today, valued at 4.33 billion ringgit. The amplitude of the market was bearish, given the fall of 788 against 253 winners.
Those who fell were led by Hong Leong Financial Group Bhd, Petronas Dagangan Bhd and Pharmaniaga Bhd, while Nestlé (Malaysia) Bhd topped the winners.
The most traded counter was Advance Synergy Bhd, which saw a total of 814.8 million shares traded.
Regionally, Japan’s Nikkei 225 fell 0.06%, Hong Kong’s Hang Seng gained 0.11%, while South Korea’s Kospi rose 0.03%.
Reuters said Asian stock markets struggled to turn a profit on Wednesday and the US dollar rose to a two-month high as lingering concerns about the global economic recovery led investors to prefer safety.
MSCI’s broader Asia-Pacific equity index outside of Japan rose 0.3% for its first gain this week, but the mood was not bullish.
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