Bursa drops to 9-month low following political uncertainty
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BURSA Malaysia hit a new nine-month low today following the uncertainty surrounding Muhyiddin Yassin’s position as the prime minister.
As at 11.30am today, the benchmark FTSE Bursa Malaysia KLCI shed 15.19 points (1.01%) to 1,485.07 from yesterday’s close of 1,500.26.
The index opened 2.98 points weaker at 1,497.28.
The drop was reflected in the overall market with decliners hammering gainers 683 to 182, with 344 counters unchanged. Meanwhile, 983 stocks were untraded.
Among the most active stocks today were ASB which gained RM0.005 on a volume of 77.7 million followed by Seal (+RM0.07) on 44.6 million traded. The last traded price for ASB and Seal were RM0.17 and RM0.46 respectively.
The top gainer was Genetec (+RM0.30) while the top loser was Nestle (-RM1.10) to RM132.60.
Under-sieged Muhyiddin had a meeting with the Yang di-Pertuan Agong at Istana Negara this morning following his loss of majority support yesterday.
Earlier today, top civil servants had also met the king at his palace in the capital. – August 4, 2021.