KUALA LUMPUR: Key Asian markets including Bursa Malaysia skidded on Friday with investors avoiding riskier assets including equities with Petronas Chemicals, Maybank and Sime Darby among the top losers.
Selling pressure could be due to MSCI Malaysia Index being reduced to 3.09% from 3.43%, analysts.
At 10.36am, the KLCI was down 23.16 points or 1.4% to 1,625.82. Turnover was 663.51 million shares valued at RM526.55mil. There were 164 gainers, 467 losers and 266 counters unchanged.
Bloomberg reported Asian stocks fell, set for a third weekly loss, as corporate earnings reports provide little cause for cheer at a time of worsening economic data. Crude oil retreated from a six-month high and South Korea's won weakened, while haven assets including the Japanese yen and gold advanced.
US light crude oil futures fell as much as 64 cents to US$46.06 a barrel while Brent for July settlement was at US$47.65 a barrel on the London-based ICE Futures Europe exchange, down 43 cents.
At Petronas Chemicals fell the most, down 35 sen to RM6.10, Maybank and Sime Darby lost 27 sen each to RM8.55 and RM7.32, Bursa Malaysia was down 25 sen to RM8.55, CIMB 23 sen to RM4.44.
MISC fell 20 sen to RM7.35 and Genting 18 sen to RM8.57 and RHB Cap 15 sen to RM5.85.
However, Public Bank rose eight sen to RM19.08.
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