Local stocks slide on profit-taking ahead of GE15

TheStar Wed, Nov 16, 2022 05:22pm - 1 year View Original


KUALA LUMPUR: The local bourse continued to see profit-taking activity ahead of the 15th general election (GE15), with the benchmark index falling 0.15%.

The FBM KLCI closed down 2.16 points to 1,448.38, its intraday high.

Market breadth turned negative as losers overpowered the gainers on a ratio of 493-to-351 stocks. Traded volumes stood at 2.32 billion shares worth RM1.71bil.

Dealers expect the market to be volatile until the elections while oversold counters would see buying interest especially index-linked stocks.

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