Global rout spreads to Asia, KLCI down 6.28pct at noon

The FTSE Bursa Malaysia KLCI Index has slid to 1,325.20, down 80.05 points or 6.64 percent from yesterday's close, just an hour after markets opened as Wall Street suffered its worst one-day performance in 33 years.

The index opened four percent lower than yesterday's closing as US and European countries enact travel restrictions to contain the Covid-19 virus outbreak crude while oil prices slide towards US$30 a barrel.

At 12.30p.m. today, there were 73 gainers, 1115 losers and 115 counters traded unchanged on the Bursa Malaysia, accroding to Bernama.

The KLCI was at 1,330.32, down 89.11 points, the FBMACE was at 4,143.92, down 371.85 points, and the FBMEmas was at 9,192.22, down 665.85 points.

Turnover was at 3.259 billion shares valued at RM2.615 billion.

Regionally, the Japan's Nikkei 225 index is down 8.92 percent, Hong Kong's Hang Seng index is down 5.15 percent, Singapore's STI index is down 5 percent, Indonesia's JCI is down 5.01 percent at the time of writing.

Italy, the country hardest hit by the Covid-19 outbreak outside of China, saw its MIB index suffer a one-day 16.9 percent drop as the country goes under lockdown.

Other major European bourses suffered double-digit drops with France's CAC 40 closing 12.3 percent lower and Germany's DAX closing 12.24 percent lower.

The panic selling comes as news spread of celebrities and top politicians across the globe contract the deadly Covid-19 virus.

Cities across the developed world are banning large gatherings while public institutions such as schools in an effort to contain the spread of the virus. - Mkini