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KUALA LUMPUR (Sept 21): FBM KLCI closed 7.2 points or 0.48% lower at 1,499.43 as Asian stock indices along with US stock futures.
In Malaysia, Rakuten Trade Sdn Bhd Research Vice President Vincent Lau said the drop in the KLCI reflected weaknesses in Asian stock indices as US equity futures sank amid one-second worries. lockdown in Europe due to the increasing number of global Covid-19 infections.
In all of Bursa Malaysia today, there were 873 people who fell versus 274 who won. The volume stood at 7.03 billion securities valued at RM3.55 billion.
Globally, Asian stocks were reported to have slumped today out of fear that the global economy will falter for a time due to a resurgence of coronavirus infections in Europe, while dashed hopes for US fiscal stimulus also weighed.
Concerns about the resurgence of Covid-19 infections also partly affected crude oil markets. Reuters reported that oil prices fell today due to the possible return of production from Libya, as the increase in coronavirus cases also added to concerns about global demand, although a tropical storm was heading for the Gulf of Mexico from the US He limited losses.
Brent crude was reported to be down 33 cents, or 0.8%, to $ 42.82 a barrel at 0645 GMT, while US crude was down 38 cents, or 0.9%, to $ 40.73 the barrel.
Such sentiment had an impact on oil and gas (O&G) stocks in Bursa.
The Bursa Energy Index, which tracks share prices in O&G-related companies, closed down 1.72%.
Petronas Dagangan Bhd led Bursa’s slide after its share price fell 76 sen or 3.59% to RM20.40.
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