KUALA LUMPUR (May 23): The FBM KLCI tumbled to its lowest level in three months on renewed concerns over national debt levels, following recent statements by Prime Minister Tun Dr Mahathir Mohamad and Finance Minister Lim Guan Eng which signalled the national debt had breached RM1 trillion.
At 12.30pm, the FBM KLCI tumbled 1.6% or 28.67 points to 1,816.36.
Losers thumped gainers by 516 to 97, while 568 counters traded unchanged. Volume was 1.42 billion shares, valued at RM1.25 billion.
LONDON: OPEC and its allies reached a preliminary agreement in the face of strong opposition from Iran to boost production by a theoretical 1 million barrels a day -- although the actual increase will be smaller as several countries are unable to raise output.