KUALA LUMPUR — Bursa Malaysia slid into the negative territory at mid-morning as the market turned jittery due to looming concerns on the country’s economic outlook.
At 11am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 10.68 points to 1,483.96 from Friday’s close of 1,494.64.
On the scoreboard, losers overtook gainers 724 to 185, while 376 counters were unchanged, 885 untraded and 43 others suspended.
Total volume shot up to 2.77 billion units worth RM1.94 billion.
An analyst said that investors are concerned about the extension of the conditional movement control order (CMCO) in key economic areas of Selangor, Kuala Lumpur, Putrajaya and Sabah.
“The jittery mode has also returned due to anxiety over the upcoming budget tabling this November 6,” she said.
Consumer-related stocks were the biggest losers as of mid-morning, with more than three-quarters of the counters in the red.
Meanwhile, the benchmark KLCI had also declined, with losses led by Top Glove and Hartalega which fell by 23 sen and 34 sen to RM8.47 and RM16.68, respectively.
On the index board, the FBM Emas Index shed 87.66 points to 10,739.57, the FBMT 100 Index declined 85.07 points to 10,546.56 and the FBM Emas Shariah Index slipped 119.77 points to 12,834.34.
The FBM 70 reduced 149.39 points to 14,108.94 and the FBM ACE sank 364.11 points to 10,242.65.
The Financial Services Index was 61.50 points down to 12,297.66, the Industrial Products and Services Index edged down 0.85 of-a-point to 143.51, while the Plantation Index bucked the trend by adding 18.64 points to 6,873.64. — Bernama, October 26, 2020
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