FBM KLCI down as investors take cue from Malaysian corporate results

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KUALA LUMPUR (May 22): The FBM KLCI fell 8.55 points or 0.5% as investors took cue from Malaysian corporate financial results during the current reporting season.

These include financial results from KLCI-linked companies Telekom Malaysia Bhd (TM) and Petronas Chemicals Group Bhd.

At 5pm, the KLCI closed at 1,845.03 points. TM dropped 50 sen to RM4.20 while Petronas Chemicals fell 27 sen to RM8.43.

Public Investment Bank Bhd head of research Ching Weng Jin told theedgemarkets.com: "Investors are now closely monitoring the delivery of promises by the new (Malaysian) government, and the delivery of results by the corporates."

Across Bursa Malaysia, volume stood at 2.36 billion shares worth RM2.74 billion. Top decliners included TM, Tenaga Nasional Bhd and Petronas Chemicals.

The most-active stocks included YTL Power International Bhd, which saw some 63 million shares traded. YTL Power closed 4.5 sen lower at 77.5 sen.