Political concerns send Bursa Malaysia tumbling from the very start. — Picture by Firdaus Latif
Losers overtook gainers 320 to 102, while 273 counters were unchanged, 1454 untraded and 80 others suspended.Energy emerged as the biggest laggard as it declined 1.34 per cent to 655.74 points as the benchmark Brent crude slipped to below US$40 per barrel.An analyst said the calls, which gained intensity yesterday, raised caution among investors that the 15th general election could be held early next year once the Covid-19 dust has settled.
On the technical forefront, the analyst said a bearing momentum is persistent in the local market with the benchmark KLCI expected to dip further down to test the level of 1,450 with the immediate resistance of 1,500.On the global front, the US presidential election on November 3 will also impact the market’s direction.
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