KUALA LUMPUR: Bursa Malaysia ended the morning session on Wednesday – the end of the first half of 2021 – on a disappointing note with the broader market showing weaknesses amid the economic uncertainties due to the Covid-19 pandemic.
At 12.30pm, the FBM KLCI was down 5.64 points or 0.36% to 1, 542.67. Turnover was 2.38 billion shares valued at RM1.13bil. Decliners beat advancers 523 to 316 while 390 counters were unchanged.
Foreign funds have been selling down their shareholdings in Malaysian corporations with local institutions also joining in while the selling has absorbed by retail investors.
S&P Global Ratings said on Wednesday it expects Malaysian banks will continue to be an Asian outlier in their recovery path and the recovery will be further away due to the flare-up of new Covid-19 waves and the inevitable disruptions in near-term economic prospects.
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