PETALING JAYA: The stock market kicked off August on the wrong footing with strong selling, as investors took on a pessimistic front following a global surge in coronavirus (Covid-19) cases which led to various economic concerns.
The benchmark FBM KLCI dropped 31.14 points or 1.94% yesterday, even as the exchange saw a record high trading volume of 13.12 billion shares.
It all leads to one thing – the earnings season is here – and investors are realising their gains and closing their positions as they brace for the unprecedented quarterly results of the second quarter, which took on the full blow of the movement control order (MCO).
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