Asian markets slide, KLCI slumps 40 points on Covid-19 anxiety

TheStar Mon, Mar 23, 2020 09:31am - 4 years View Original


KUALA LUMPUR: Key Asian markets and Bursa Malaysia slumped in early Monday trade on growing anxiety over the fallout from the Covid-19 coronavirus as no certainty was in sight on how long it would continue.

At 9.13am, the FBM KLCI fell 43.38 points or 3.33% to 1,259.90. Turnover was 320.34 million shares valued at RM160.22mil. Decliners hammered advancers 564 to 54 while 76 counters were unchanged.

Reuters reported Asian shares slid as more countries all but shut down in the fight against the coronavirus, threatening to overwhelm policymakers' frantic efforts to cushion what is clear to be a deep global recession.

E-Mini futures for the S&P 500 dived 5% at the open to be limit down. MSCI's broadest index of Asia-Pacific shares outside Japan lost 2%, with South Korea badly hit.

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