The Bursa Malaysia Finance Index fell 2.56% or 291.05 points to an 11-year low of 11,058.43.
The benchmark index has shed some 23.5% from 1,588.76 on Dec 31, 2019.The decline in banking stocks was led by Affin Bank Bhd, which fell as much as 10.42% to RM1.29, followed by RHB Bank Bhd, which declined as much as 7.03% to RM4.23, Alliance Bank Bhd, down as much as 4.97% to RM1.53, and Hong Leong Financial Group Bhd, which shrank as much as 4.92% to RM11.60.
CIMB Group Holdings Bhd dipped as much as 3.28% to RM3.24, AMMB Holdings Bhd was down as much as 2.62% to RM2.97, and Public Bank Bhd fell as much as 2.3% to RM12.72. Hong Leong Bank Bhd was down as much as 1.77% to RM12.20, Malayan Banking Bhd fell as much as 1.52% to RM7.15, while BIMB Holdings Bhd shed as much as 0.68% to RM2.90.
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