KUALA LUMPUR: Telcos snapped their recent rally on Monday, dragging the FBM KLCI into the red while the recovery in crude palm oil (CPO) prices was unable to lift the plantation heavyweights.
At 5pm, the KLCI was down 6.93 points or 0.43% to 1,588.88. Turnover was 2.53 billion shares valued at RM1.78bil. The broader market was mixed with 408 gainers, 449 losers and 377 counters unchanged.
Meanwhile, Moody's Investors Service said the credit profile of Malaysia (A3 stable) is supported by its large, diversified and competitive economy, strong medium-term growth prospects compared with similarly rated peers and ample natural resources.
Asean markets and Hong Kong's Hang Seng Index closed lower but China and Japan stocks closed higher.
...