KLCI remains in the red as banking heavyweights drag

TheStar Mon, Jan 18, 2021 05:22pm - 3 years View Original


KUALA LUMPUR: The FBM KLCI closed off lows after the prime minister announced another assistance package worth RM15bil to ease the pressure following the pandemic.

Banks, however, put up a lacklustre display due to expectations of another cut in the overnight policy rate (OPR) by 25 basis points to 1.50% at Bank Negara's monetary policy committee (MPC) meeting on Wednesday.

At 5pm, the benchmark KLCI was down 17.49 points to closed the day at 1,609.52 after moving between 1,625.35 and1,608.64. The index opened 1.66 points lower at 1,625.35 this morning.

Losers outpaced gainers 458 to 716 with 430 counters unchanged. Turnover was at 7.16 billion shares valued at RM4.3bil.

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