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. ...
KUALA LUMPUR (Nov 5): Malaysian stocks closed slightly lower today, dragged down by gaming stocks amid lingering worries over the impact of a hike in casino duties – the first in the last 20 years.
The negative performance was also in tandem with regional peers as optimism over a potential US-China trade deal receded.
Investors booked profits as caution set in ahead of Diwali, with the FBM KLCI settling 5.07 points or 0.3% lower at 1,708.80 points.
Shares of its parent Genting Bhd also dropped 46 sen or 6.39% to close at RM6.74, with 36.45 million shares done. Its market value was at RM25.8 billion.
Malaysia Airports Holdings Bhd (MAHB) also took a big hit, as an airport real estate investment trust (REIT) proposed by the government in Budget 2019 is expected to put a squeeze in the airport operator's margins in the medium to long term. The stock fell 64 sen or 7.76% to settle at RM7.61 today, with 7.45 million shares traded, valuing the stock at RM12.63 billion.
According to Rakuten Trade Sdn Bhd vice-president Vincent Lau, the downtrend and lower sentiment in the region is due to the US mid-term election.
Reuters reported that Asian stocks skidded on Monday as fears of faster rate hikes in the US and uncertainty around the Sino-US trade war deterred investment in riskier assets, while sterling briefly jumped to a two-week high on hopes of an orderly Brexit.
Markets are expected to be skittish ahead of US congressional midterm elections on Tuesday.
Lau told theedgemarkets.com that the KLCI was also dragged down by GENM, Genting and MAHB.
“Apart from these few negatives, the overall Budget 2019 measures was actually okay,” he noted.
JF Apex Securities Bhd said trading volume fell to 2.23 billion shares worth RM3.29 billion compared with Friday’s 3.16 billion shares worth RM2.53 billion. Market breadth was negative with 344 gainers and 537 losers, while 315 counters remained unchanged.
Across in Asia, Japan's Nikkei 225 dropped 1.55%, South Korea's Kospi fell 0.91% while Hong Kong’s Hang Seng was down 2.08%
Source: The Edge
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