KUALA LUMPUR: The local stock market ended July on a disappointing note as selling pressure picked up pace in late Friday trade amid a weak economic outlook while key Asian markets also closed lower.
At 5pm, the FBM KLCI was down 18.33 points or 1.21% to 1,494.60. Turnover was 4.12 billion shares valued at RM2.72bil. Decliners beat advancers more than two to one or 665 losers to 300 gainers and 407 counters were unchanged.
The downbeat outlook for the economy was due to the strict restrictions to curb the Covid-19, which was expected to impact the economy while the volatile political situation also weighed.
...