Warning: A non-numeric value encountered in /home/customer/www/rowmobile.com/public_html/wp-content/themes/Divi/functions.php on line 5611
KLCI slips below 1,600 points level

KLCI slips below 1,600 points level

KUALA LUMPUR: – The FTSE Bursa Malaysia KLCI (FBM KLCI) slipped below the psychological level of 1,600 points at mid-morning today and in line with the poor performance of its regional peers, dealers said. At 11.15 am, the key index declined 23.64 points to 1,597.98. A dealer said China’s devaluation of the yuan continued to impact regional markets as well as currencies, with the ringgit touching 4.1000/4.1080 against US dollar at 10.57am. Falling commodity prices have also negatively impacted markets. US oil prices were at a 6 1/2-year low at US$42 per barrel on high stockpiles. On the broader market, losers thumped gainers 651 to 124, while 184 counters were unchanged, 841 untraded and 20 others suspended. Turnover stood at 865.56 million shares worth RM584.44 million. On the scoreboard, the FBM Emas Index lost 157.20 points to 10,972.94, the FBMT100 Index slid 147.64 points to 10,704.56 and the FBM Shariah Index depreciated 167.32 points to 11,384.93. The FBM 70 decreased 123.06 points to 11,797.99 and the FBM Ace lost 180.18 points to 5,443.98. On a sectoral basis, the Plantation Index was down 73.95 points to 6,988.79, the Finance Index slid 217 points to 14,332.19 and the Industrial Index went down 35.76 points to 3,075.13. Among actives, Ingenuity Consolidated and APFT were flat at 6.5 sen and 23.5 sen respectively, while Tiger Synergy slid half-a-sen to 9.5 sen and IFCA MSC fell 5.5 sen to 75.5 sen. Of the heavyweights, Maybank contracted 21 sen to RM8.39, Public Bank depreciated 10 sen to RM18.20, TNB trimmed 24 sen to RM10.62 and Axiata declined 12 sen to RM5.79. —...