KUALA LUMPUR: The FBM KLCI closed at a three-week low on Friday, Jan 21, the worst performance since this year as some funds took money off the table, in line with key regional markets on concerns about more monetary tightening policies by China's government.
At 5pm, the KLCI was down 19.08 points or 1.22% to 1,547.43, the lowest since Jan 3 when trading started for the year. Turnover was 1.89 billion shares valued at RM3.16 billion. Declining counters battered advancers 717 to 185 while 224 stocks were unchanged.
Most regional markets also ended in the red, with losses ranging from 0.5% to 2.16%. South Korea's Kospi skidded 1.74% to 2,069.92 -- retreating from an all-time high of 2,119.24 on Wednesday.-- as investors took profits after the main index hit record highs earlier this week, and as concerns about further Chinese monetary policy tightening weighed on shares of big exporters.
Japan's Nikkei 225 1.56% to 10,274.52, Hong Kong's Hang Seng Index 0.53% to 23,876.86 and Singapore's Straits Times Index 0.68% at 3,183.81.
Jakarta's Composite Index was the worst, down 2.16% to 3,379.54. However, China's markets managed to recover part of Thursday's losses, with the Shanghai Composite Index up 1.4% to 2,715.29.
Analysts said foreign funds were taking some money from the regional markets, which was evident from the selling of Jakarta blue chips.
At Bursa Malaysia, KL Kepong fell the most, down 52 sen to RM22.34, PPB and Kulim 30 sen each to RM17.20 and RM13.28 while Batu Kawan shed 26 sen to RM16.92 and IOI Corp six sen to Rm5.89
CIMB fell 30 sen to RM8.34, dragging the KLCI down by 5.28 points while Genting's 32 sen decline to RM11.36 pushed the index down by another 2.8 points. Other banks also fell, with Maybank down 10 sen to RM8.81 and AMMB 14 sen to RM6.76.
Petronas Chemicals fell 15 sen to RM6.20 after a news wire said was due to a downgrade at Macquarie Group Research from "Outperform" to "Neutral".
At 5pm, the KLCI was down 19.08 points or 1.22% to 1,547.43, the lowest since Jan 3 when trading started for the year. Turnover was 1.89 billion shares valued at RM3.16 billion. Declining counters battered advancers 717 to 185 while 224 stocks were unchanged.
Most regional markets also ended in the red, with losses ranging from 0.5% to 2.16%. South Korea's Kospi skidded 1.74% to 2,069.92 -- retreating from an all-time high of 2,119.24 on Wednesday.-- as investors took profits after the main index hit record highs earlier this week, and as concerns about further Chinese monetary policy tightening weighed on shares of big exporters.
Japan's Nikkei 225 1.56% to 10,274.52, Hong Kong's Hang Seng Index 0.53% to 23,876.86 and Singapore's Straits Times Index 0.68% at 3,183.81.
Jakarta's Composite Index was the worst, down 2.16% to 3,379.54. However, China's markets managed to recover part of Thursday's losses, with the Shanghai Composite Index up 1.4% to 2,715.29.
Analysts said foreign funds were taking some money from the regional markets, which was evident from the selling of Jakarta blue chips.
At Bursa Malaysia, KL Kepong fell the most, down 52 sen to RM22.34, PPB and Kulim 30 sen each to RM17.20 and RM13.28 while Batu Kawan shed 26 sen to RM16.92 and IOI Corp six sen to Rm5.89
CIMB fell 30 sen to RM8.34, dragging the KLCI down by 5.28 points while Genting's 32 sen decline to RM11.36 pushed the index down by another 2.8 points. Other banks also fell, with Maybank down 10 sen to RM8.81 and AMMB 14 sen to RM6.76.
Petronas Chemicals fell 15 sen to RM6.20 after a news wire said was due to a downgrade at Macquarie Group Research from "Outperform" to "Neutral".
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