NSTbusiness Under pressure over uncertainties surrounding the country’s political landscape, the local bourse sank to its lowest level since Dec 2011.
The index opened at 1,501.47, hovering between 1,491.20 and 1,510.42 throughout the morning session.
Meanwhile, Petronas-linked stocks such as Petronas Chemicals shed 20 sen to RM6.25, Petronas Dagangan weakened 20 sen to RM21.80, MISC lost 45 sen to RM7.24, and telecommunication stock Axiata erased 20 sen to RM4.05.The decline in these stocks had collectively dragged the composite index down by 25.95 points.
“Hence, we expect a withdrawal from the local equities market, especially on counters with government links,” she told Bernama.
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