Bursa Malaysia hits 13-month low amid fears of Omicron threat | Malay Mail

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KUALA LUMPUR, Dec 6 — Fears over Omicron’s possible impact on global economic recovery dragged Bursa Malaysia’s key market barometer to its lowest in 13 months today. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 18.29 points or 1.22 per cent to 1,483.45 compared with 1,501.74 at...

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KUALA LUMPUR, Dec 6 — Fears over Omicron’s possible impact on global economic recovery dragged Bursa Malaysia’s key market barometer to its lowest in 13 months today.

On the broader market, losers trounced gainers 789 to 242, while 369 counters were unchanged, 876 untraded, and 20 others suspended. Following this, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional markets closed broadly lower as worries about the Omicron variant continue while investors are cautious ahead of the release of China’s economic data scheduled this week.

“As such, we expect the benchmark index to trend around the 1,480-1,490 range for the the week. Technically, we spot the next support level at 1,480 followed by 1,455 while resistance is at 1,500,” he told Bernama. Only six index-linked heavyweights were in the positive territory: CIMB gained eight sen to RM5.24 and Maybank rose four sen to RM7.99.

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