KLCI falls as Axiata tops Bursa decliners

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KUALA LUMPUR (Feb 23): The FBM KLCI fell 3.6 points or 0.2% on index-linked Axiata Group Bhd share losses, after the mobile telecommunication network provider reported a fourth quarter net loss of RM309.5 million.

The net loss compared with a net profit of RM467.24 million a year earlier. Today, the KLCI ended at 1,704.48 points at 5pm, while Axiata shares dipped 27 sen to RM4.53 to become Bursa Malaysia's top decliner.

Across Bursa Malaysia, trading volume was 2.79 billion shares, worth RM2.67 billion. There were 555 decliners and 328 gainers.

On the KLCI, Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng said the index was also expected to take the cue from U.S. President Donald Trump’s tax policy and European politics. 

"Moving forward, besides corporate earnings, investors will closely monitor Trump’s tax cut policy and elections in some of European Union members," Wong told theedgemarkets.com via telephone.