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Energy, commodities rout weighs on FBM KLCI

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KUALA LUMPUR: Bursa Malaysia saw heavy profit-taking activity in reaction in the lead up to Bank Negara's announcement of its interest rate decision later today.

PETRONAS Chemicals recorded the heaviest loss of 66 sen to RM8.46, a seven-month low, and single-handedly shaved nearly eight points off the benchmark index.

While prices bounced just over 1% on Wednesday, investors were quick to take profit out of energy stocks. Malaysia's energy index droped 4.7% in the morning session to its lowest since November 2020., down four 0.5 sen to four sen, and Hibiscus Petroleum, slumping 8.5 sen to 91.5 sen, led the market in trading activity with 44.63 million and 42.75 million shares exchanging hands respectively.

 

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