Key Asian markets including Bursa Malaysia skidded on Friday with investors avoiding riskier assets including equities with Petronas Chemicals, Maybank and Sime Darby among the top losers.
Selling pressure could be due to MSCI Malaysia Index being reduced to 3.09% from 3.43%, analysts.
At 10.36am, the KLCI was down 23.16 points or 1.4% to 1,625.82. Turnover was 663.51 million shares valued at RM526.55mil. There were 164 gainers, 467 losers and 266 counters unchanged.
Bloomberg reported Asian stocks fell, set for a third weekly loss, as corporate earnings reports provide little cause for cheer at a time of worsening economic data. Crude oil retreated from a six-month high and South Korea's won weakened, while haven assets including the Japanese yen and gold advanced.
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Selling pressure could be due to MSCI Malaysia Index being reduced to 3.09% from 3.43%, analysts.
At 10.36am, the KLCI was down 23.16 points or 1.4% to 1,625.82. Turnover was 663.51 million shares valued at RM526.55mil. There were 164 gainers, 467 losers and 266 counters unchanged.
Bloomberg reported Asian stocks fell, set for a third weekly loss, as corporate earnings reports provide little cause for cheer at a time of worsening economic data. Crude oil retreated from a six-month high and South Korea's won weakened, while haven assets including the Japanese yen and gold advanced.
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