MSCI reduces weightage for Maybank, CIMB, Sime Darby

MIDF Research said in retrospect, foreigners offloaded -RM19.5bil and -RM6.9bil in 2015 and 2014 respectively.

KUALA LUMPUR: US index provider MSCI has reduced its weightage for Malaysia's stocks in its Malaysia Index, which saw Maybank, CIMB Bank, Sime Darby, Petronas Chemicals and Petronas Dagangan among those whose weightage had been reduced, triggering selling pressure on these stocks on Friday.

At midday on Friday, the FBM KLCI was down 2.45 points or 1.36% to 1,626.53. Turnover was 1.03 billion shares valued at RM1.13bil. The broader market was weak with decliners beating advancers 573 to 199 and 291.