KUALA LUMPUR: Bursa Malaysia extended losses early Wednesday after the heavy selling the previous day as investor sentiment was hit by worries in the US markets and slide in crude oil prices.
At 9.22am, the KLCI was down 4.05 points or 0.25% to 1,591.24. Turnover was 918.23 million shares valued at RM379.49mil. Decliners beat advancers more than two to one or 424 losers to 206 gainers and 358 stocks unchanged.
US stocks tumbled on Tuesday as concerns about the cost of infrastructure spending and potential tax hikes to pay for President Joe Biden's US$1.9 trillion relief bill weighed on investors who also fear further downside in the market, Reuters reported.
Bloomberg reported Asian stocks opened mostly weaker after setbacks to the recovery from the pandemic weighed on US equities and oil, and drove haven trades into Treasuries and the dollar.
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