REGIONAL MARKETS SUFFER MELTDOWN, FBM KLCI DOWN 5.26 PCT (SCREEN)

NURUL HANIS IZMIR

KUALA LUMPUR, March 13 -- Regional equity markets, including Malaysia, took a thrashing on Friday the 13th as selling pressure intensified amid uncertainties due to COVID-19 that have triggered travel bans and a recession scare, coupled with lower oil prices.

At the close, the FBM KLCI erased 74.68 points or 5.26 per cent to 1,344.75, the lowest level since 2010 with losers trouncing gainers 987 to 158.

After opening 55.67 points weaker at 1,344.75 this morning, the local index moved between 1,320.96 and 1,369.00 throughout the day.

Turnover increased to 5.67 billion shares worth RM4.90 billion from 3.79 billion shares worth RM3.06 billion yesterday.

Almost all major stock markets in Asia tanked further and remained in bear territory.

Japan’s Nikkei down 6.08 per cent, Hong Kong’s Hang Seng slipped 1.14 per cent, while Singapore’s Straits Times shed 1.30 per cent.

Throughout the week, there were RM3.4 billion worth of outflow compared with RM1.2 billion during a political turmoil in the country two weeks ago.