KUALA LUMPUR (July 30): The FBM KLCI recouped earlier losses to close 7.67 points or 0.48% lower after tanking by some 25 points in reaction to Umno's departure from the Perikatan Nasional alliance. It had opened at a high of 1,614.35 before falling below the 1,600 level to 1,584.95 at 4pm. A total of 11.92 billion shares were traded for RM6.16 billion, led by 688 losers and 390 gainers. Over in Asia, markets were mostly negative, reflecting fragile investor sentiment amid rising Sino-US tensions and surging coronavirus cases, said Reuters. Japan's Nikkei 225 index closed 0.26% lower, though South Korea's Kospi index gained 0.17%.

Source: The Edge Markets July 30, 2020 09:56 UTC