KLCI sinks below 1,400-level, almost 900 stocks in red

TheStar Tue, Mar 14, 2023 05:20pm - 1 year View Original


KUALA LUMPUR: The FBM KLCI tumbled 1.97% to below the 1,400-point mark, the lowest level since October 2022, as fears lingered about contagion from the Silicon Valley Bank's (SVB) collapse.

At 5pm, the market bellwether tanked 28 points, or 1.97% to 1,393.83, its lowest since mid-October 2022. All indices on Bursa Malaysia were down.

In the broader market, losers outnumbered gainers 878 to 179, with 3.37 billion shares worth RM2.5bil changing hands.

The KLCI-component stocks were overwhelmingly negative, with 29 losers while one closed unchanged.

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