Friday, September 23, 2011

KLCI continues to get hammered, falls 1.64%

KUALA LUMPUR: The FBM KLCI fell 1.64% or 22.76 points to 1.365.05 at 9.05am on Friday, Sept 23 in line with the steep overnight fall at Wall Street as well as the panic-selling across Asia.

A grim economic outlook from the US Federal Reserve on Wednesday triggered falls in world stocks and commodities overnight.

US stocks plunged 3.5% on Thursday, extending a selloff to four days, as policymakers' failure to arrest global economic stagnation sent markets spiraling downward, according to Reuters.

Among the major early losers on Bursa Malaysia were KLK, Tradewinds, JT International, UMW, Star, Genting, Batu Kawan, MSM, AirAsia and Petronas Chemicals.

Losers beat gainers by 259 to 27, while 74 counters traded unchanged.

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