KUALA LUMPUR, April 3 (Bernama) -- Bursa Malaysia ended lower today, with the benchmark index declining 0.5 per cent, weighed down by selected heavyweights led by Press Metal, IHH Healthcare, and Tenaga Nasional. Press Metal shed 16 sen to RM4.87, IHH Healthcare dipped 14 sen to RM6.75, and TNB slipped 18 sen to RM13.58. These stocks resulted in a 6.12-point decline in the benchmark index. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 7.61 points to 1,518.91 versus Wednesday’s close of 1,526.52. The benchmark index opened 9.22 points lower at 1,517.30 and fluctuated between 1,512.32 and 1,524.41 throughout the day. In the broader market, losers thumped gainers 548 to 357, while 448 counters were unchanged, 994 untraded and eight suspended. Turnover rose to 2.51 billion units valued at RM1.81 billion against Wednesday’s 2.37 billion units valued at RM2.03 billion. ...
Market Daily Report: FBM KLCI drops 10.47 points, Bursa share value dips below RM1.5b as trade war hits sentiment
KUALA LUMPUR (Sept 24): The FBM KLCI dropped 10.47 points or 0.58% on profit taking in light of heightened China-US trade war concerns. At 5pm, the KLCI settled at 1,800.17 while share-trade value across Bursa Malaysia fell to RM1.499 billion.
Reuters reported that Asian shares stumbled in holiday-thinned trading on Monday as China's decision to cancel talks with the United States sparked fears of a protracted trade war, while oil rallied as Saudi Arabia ruled out increasing supplies to cool crude prices.
Investors were squarely focused on the Sino-US trade war as China added US$60 billion of US products to its import tariff list, retaliating against US duties on US$200 billion of Chinese goods that came into effect at 0401 GMT Monday. China also cancelled mid-level trade talks with the United States, as well as a proposed visit to Washington by Vice Premier Liu He which had been scheduled for this week, the Wall Street Journal reported.
In Malaysia today, Hong Leong Investment Bank Bhd analyst Loui Low Ley Yee told theedgemarkets.com: “It was a mixed market. There were selective profit-taking activities [locally].
Across Bursa Malaysia, 1.64 billion shares worth RM1.499 billion exchanged hands. Today's share-trade value was much lower than the RM3.61 billion registered on Friday.
Today's top decliners included KLCI constituent stocks such as Hong Leong Bank Bhd, Press Metal Aluminium Holdings Bhd and Tenaga Nasional Bhd.
Across Asia, Hong Kong’s Hang Seng fell 1.62% amid holiday-thinned trading today as Mainland China, Japan and South Korea markets were closed for holidays. Tomorrow (Sept 25), Hong Kong markets will be closed in conjunction with the day following the Chinese Mid-Autumn Festival.
Source: The Edge
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