Traders Bailing on Malaysia Send Shares Sinking Into Correction
- Weak earnings, political situation hurt investors’ sentiment
- Telekom Malaysia plunges amid worries over broadband prices
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The worst streak of losses for Malaysian shares since October is pushing the nation’s benchmark gauge to a so-called technical correction.
The FTSE Bursa Malaysia KLCI Index fell 1 percent to close at 1,692.32 on Thursday, taking its decline to 11 percent since a peak two months ago. Down for a ninth straight day, the measure dropped to its lowest level since February 2017.