KLCI closes higher but down 15% in 1Q, battered by Covid-19

TheStar Tue, Mar 31, 2020 06:12pm - 3 years View Original


KUALA LUMPUR: Bursa Malaysia’s FBM KLCI ended Tuesday, the first quarter of 2020, on a downbeat note as the Covid-19 ravaged global and Asian markets, which was worse than the 2008 Global Financial Crisis.

At 5pm, the KLCI was up 22.01 points or 1.66% to 1,350.89. Year-to-date, the KLCI is down 14.97%, despite last week’s rally ahead of the RM250bil stimulus package to offset the severe impact from the coronavirus.

Turnover was 3.52 billion shares valued at RM2.87bil. There were 708 gainers, 185 losers and 288 counters unchanged.

Billions of ringgit had been wiped out from the local stock market as foreign funds fled. The regulators’ move to halt short selling activities helped somewhat to steady the market.

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