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KLCI plunges as much as 98 points or 6.9% in early trade as Covid-19 escalates

KLCI plunges as much as 98 points or 6.9% in early trade as Covid-19 escalates 1

PETALING JAYA: The FBM KLCI dived as much as 98.47 points or 6.9% to 1,320.96 points this morning on fears over the worsening of Covid-19 pandemic.

At the midday break, it slumped 89.11 points or 6.3% to 1,330.32 points.

All the other indices were in the negative territory, with the construction Index experiencing the biggest drop of 12.1%.

The most active stocks on the local bourse include Vortex Consolidated Bhd, Sapura Energy Bhd and My EG Services Bhd. Top losers were Nestle (Malaysia) Bhd, Kuala Lumpur Kepong Bhd and PPB Group Bhd.

TA Securities said stocks could suffer further downside volatility with major global markets in correction mode on fears over the Covid-19 global pandemic, and pending more significant fiscal stimulus measures to cushion the economic impact from the outbreak.

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