KUALA LUMPUR, June 8  — Share prices on Bursa Malaysia were bearish at mid-morning today in tandem with most regional peers.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) traded 0.63 per cent lower, dragged down by losses in selected blue chips.

At 11am, the key index was 10.93 points easier at 1,734.40, having slid to a low of 1,727.01.

Among the laggards in the FBM KLCI component stocks were KL Kepong which dipped 88 sen to RM21.62, Tenaga declining 16 sen to RM13.24, while Petronas Gas eased 36 sen to RM21.56 and with Hong Leong Financial Group dropping 50 sen for RM15.50.

On regional markets, Japan’s Nikkei 225 edged down 0.35 per cent to 20,388.38, Hong Kong’s Hang Seng contracted 0.02 per cent to 27,253.89 and South Korea’s KOSPI Composite Index fell 0.17 per cent to 2,064.63, while Singapore’s Straits Times slipped 0.20 per cent to 3,326.94.

Indices of most Asian stock markets slipped today, after strong US employment data bolstered expectations of an interest rates hike by the Federal Reserve (Fed) before year-end.

“The upbeat jobs data spurred bets of a Fed rates hike as early as September, and coupled with the uncertain global economy, is expected to further add on to the regional and emerging markets’ volatility as well as risk of disorderly capital outflows,” a dealer said.

On Bursa, the FBM Emas Index lost 64.54 points to 12,064.97, the FBMT100 Index declined 64.15 points to 11,739.71 and the FBM Emas Shariah Index  shed 78.40 points to 12,572.38.

The FBM 70 depreciated 35.94 points to 13,396.60 and the FBM Ace fell 51.26 points to 6,536.69, while the Finance Index lost 50.75 points to 15,531.06, the Industrial Index edged down 23.92 points to 3,180.60 and the Plantation Index lost 86.48 points to 7,406.10. 

On the broader market, losers outpaced gainers 461 to 150 with 267 counters unchanged, 934 untraded and 13 others suspended.    

Turnover stood at 483.13 million shares worth RM307.10 million.

Among actives, Xinghe and its warrants (A) were flat at seven sen and two sen respectively, Hubline and Frontken dipped half-a-sen each to 1.5 sen and26.5 sen and APFT Bhd inched up half-a-sen to 20 sen. — Bernama