KLCI falls below 1,500 on political uncertainty

TheStar Wed, Feb 26, 2020 05:16pm - 4 years View Original


KUALA LUMPUR: The FBM KLCI broke below the psychologically 1,500-point mark on Wednesday as the country’s political uncertainty drags on, amid announcement by Interim Prime Minister Tun Dr Mahathir Mohamad to put aside all politics and concentrate on resolving country’s economic issues.

In a televised address to the nation, Dr Mahathir said he wants a Cabinet comprising capable individuals that do not have to cleave to party affiliations.

At closing, the benchmark index pared some of its loss but closed 5.69 points lower at 1,495.19. The index opened 11.55 points lower at 1,489.33 this morning. There were 350 gainers, 538 losers while 393 counters closed unchanged. Turnover stood at 3.866 billion shares worth RM3.072bil.

In today’s session, 14 of the KLCI-component stocks were traded lower, 15 counters rose while the remaining closed unchanged. Dealers said the country’s political situation kept investors on tenterhooks. However, they are positive on news that Dr Mahathir will be announcing the economic stimulus package 2020 tomorrow in Putrajaya.

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