Kuala Lumpur: The FBM KLCI fell more than 3% on Thursday. Bursa Malaysia stock prices opened lower on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index sharply down 36.96 points to 1,698.22. The trading volume was 165.76 million lots worth RM54.83 million. Losers beat gainers 490 to 19.
On Wednesday, the KLCI fell nearly 40 points. With this morning’s losses, the decline is about 90 points, as the technical support for the index has broken down.
The klse stock loser data shows, Nestle fell RM3.10 to RM142.90, BAT RM1.50 to RM33.50, Dutch Lady Rm1.10 to RM63.20 and F&N 92 sen to RM34.84.
Petronas Dagangan lost RM1 to RM25.10, MPI 72 sen to RM11.30, Tenaga 72 sen also to RM13.96 and Hong Leong Bank 70 sen lower at RM19.86.
Gamuda places 29 sen to RM2.09 with 107 million shares done on growing worries about its participation in the MRT 2 project.
Selling pressure on key Asian markets continued on Thursday, driven by the overnight tumble on Wall Street. The continued slide on Thursday was sparked off by a steep decline in US equities overnight as fears over rising interest rates disorderly retreat in technology stocks sent the Dow Jones plunging over 800 points or 3.15%.
The Japan Nikkei index open at 23,043.37 after 23,506.04 previous close and Han Seng index opened at 25,392.90, the previous close was 26,193.07
In the currency market, the RINGGIT opened slightly lower against the US dollar on Thursday. The local currency stood at 4.1550/1580 against 4.1515/1545 recorded at Wednesday’s closing.
The ringgit was traded lower against all other major currencies. It fell against the Singapore dollar from 3.0016/0048 to 3.0056/0082 on yesterday and slipped versus the Japanese yen from 3.6668/6704 to 3.7012/7049.
The local note decreased against the Euro to 4.7920/7967 from 4.7688/7731 and depreciated against the British pound to 5.4879/4935 from 5.4601/4657.
Oil prices also suffered a steep decline to two-week lows as confidence overgrowth in the global economy continued to weigh. WTI crude fell US$1.24 to US$71.93 a barrel while Brent crude dropped US$1.49 to US$81.60 a barrel.