Political worries send KLCI below 1,500 again

TheStar Wed, Aug 04, 2021 10:16am - 2 years View Original


KUALA LUMPUR: The political worries besetting the country continued to weigh on the stock market, sending the FBM KLCI down below the key 1,500 again.

At 10am, the KLCI lost 11.84 points to 1,488.42. Turnover was 908.35 million shares valued at RM451.11mil. Decliners beat advancers 513 to 184 while 332 counters were unchanged.

Bloomberg reported Asian stocks were steady Wednesday as China’s clampdown on its technology giants and the spread of the delta Covid-19 strain restrained sentiment.

Shares rose in China and Hong Kong, but slipped in Japan, where SoftBank Group Corp. retreated on a potential block of its $40 billion sale of Arm Ltd. to chip company Nvidia Corp. U.S. equity contracts posted modest losses. Company earnings took the S&P 500 to another all-time high overnight.

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