The pressure is due to the ongoing Covid-19 outbreak, possibility of a recession and lower oil prices.
Bursa Malaysia is taking another beating in the early trading session today, as selling pressure from last week's Friday the 13th persisted today, with the FBM KLCI was 3.34 percent lower.
In a note, Malacca Securities Sdn Bhd said Asian equities endured their worst sell down since the previous global financial crisis last Friday. “Following the sharp downturn that saw the FBM KLCI erased close to 140 points over the week, we think that a rebound is due for investors to recoup some of their recent losses,” it said.
Of the actives, Vortex was flat at three sen, Sapura Energy declined half-a-sen to 10 sen and JAKS Resources fell 5.5 sen to 77.5 sen.
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