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KUALA LUMPUR: FBM KLCI remained shaky throughout the course of the day as investors sold shares lower on concerns about the new strain of coronavirus and mounting restrictions in Europe.
At 5 p.m., the key index fell 15.97 points to 1,631.92.
The financial and commodity games were hurt by the prospect that the economic recovery could be derailed by the fast-spreading strain of the coronavirus, bringing the major heavyweights down.
Among banks, Maybank fell eight sen to RM8.40, Public Bank lost 20 sen to RM20.46, CIMB lost 18 sen to RM4.12, and Hong Leong Bank fell 10 sen to RM18.48.
Meanwhile, the aluminum producer Press Metal
it slid 19 sen to RM7.18 while Petronas Chemicals skidded 13 sen to RM7.41.
The stock sell-off was precipitated by falling crude prices, as hopes that the vaccine would end the pandemic were dampened by the rising number of infections in the United States and Europe.
Brent crude fell 1.4% to $ 50.21 a barrel after hitting a high of $ 52.48 a barrel last Friday. US crude fell similarly 1.5% to $ 47.27 a barrel.
In Bursa Malaysia’s energy index, 22 of the 31 constituent counters dipped red.
Bumi Armada it lost two sen to 33 sen, Dayang lost three sen to RM1.12, Dialog lost three sen to RM3.38 and Hibiscus slipped three sen to 57 sen.
From assets in Bursa Malaysia, Technax fell two sen to 14.5 sen, Bintai Kinden it rose seven sen to 73.5 sen and Iris added 0.5 sen to 39.5 sen.
Similarly, in other parts of Asia, equities have fallen.
Japan’s Nikkei extended losses by 1%, while South Korea’s Kospi fell 1.6%. In China, the benchmark index lost 1.9%, while Hong Kong’s Hang Seng lost 0.7%.
In Australia, the ASX 200 was down 1%.
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