KUALA LUMPUR (May 13): Malayan Banking Bhd (Maybank) was today’s biggest decliner on Bursa Malaysia, as US index provider MSCI Inc reduced its weightage on Malaysian equities as part of its semi-annual review that will take effect after May 31.
At 3:46 p.m., the share price of the country’s largest bank was down 44 sen or 4.99% at RM8.38, with 35.32 million shares done. The day’s trading ranged between RM8.35 and RM8.81.
Danny Wong, chief executive officer of Areca Capital Sdn Bhd, told theedgemarkets.com that MSCI has reduced its weightage on Maybank and other banks — save for Public Bank Bhd.
“Many other blue chips are affected as well, by this review,” he said.
To compare, the FBM KLCI dropped by 1.7% to 1,620.94 as at writing.
MAYBANK (1155) - Hot Stock: Maybank top decliner as MSCI reduces weightage on Malaysia stocks
http://www.theedgemarkets.com/my/article/maybank-top-decliner-msci-reduces-weightage-malaysia-stocks
