Petronas Chemicals extended its losses at midday on Thursday as investors turned cautious after the rally in the share price, erasing more than five points from the FBM KLCI, while Brent crude oil fell below the crucial US$30 a barrel mark again.
At 12.30pm, the FBM KLCI was down 7.59 points or 0.46% to 1,634.95. Turnover was 1.17 billion shares valued at RM949mil. Decliners beat advancers more than four to one or 663 losers to 157 gainers and 274 stocks unchanged.
Analysts said investors were cautious about the market due to the slower growth in China and also globally while crude oil prices were at 2004 lows. Banks were also impacted due to the weaker economic outlook for Malaysia.
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At 12.30pm, the FBM KLCI was down 7.59 points or 0.46% to 1,634.95. Turnover was 1.17 billion shares valued at RM949mil. Decliners beat advancers more than four to one or 663 losers to 157 gainers and 274 stocks unchanged.
Analysts said investors were cautious about the market due to the slower growth in China and also globally while crude oil prices were at 2004 lows. Banks were also impacted due to the weaker economic outlook for Malaysia.
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