Malaysian stocks down for second day on election talk

 

KUALA LUMPUR - Malaysia's stock market fell for the second consecutive day, albeit less drastically, on speculation that Prime Minister Najib Razak would dissolve Parliament after Chinese New Year to make way for the 13th general election in March.

The FBM KLCI, the stock exchange's composite index, fell seven points to close at 1,628.66 points yesterday, as investors continued to sell on political uncertainty. It had shed more than 40 points, or 2.4 per cent, on Monday.

At the market close, the FBM KLCI had recovered slightly as some investors went bargain-hunting after the index fell 33.5 points in early trade to an intraday low of 1,602.12.

Total volume traded was 1.266 billion shares worth RM2.227 billion (S$901 million).

TO READ THE FULL STORY...