KUALA LUMPUR, Dec 28 — Bursa Malaysia stayed in the red at mid-day as sentiment remained tepid following Wall Street’s overnight roller-coaster performance.

OANDA head of trading Asia-Pacific Stephen Innes said investors remained anxious over the US-China trade war.

"This is on news that President Donald Trump is considering an executive order to ban US companies from using equipment built by Chinese telcos, Huawei and ZTE,” he added.

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.47 of-a-point to 1,690.25 from yesterday’s close of 1,690.72.

The key index moved between 1,684.47 and 1,692.22 throughout the session, after opening 2.81 points weaker at 1,687.91. 

Other than the trade war concerns, Innes said weaker US economic data, yield curve interpretations and US political uncertainty, had also harmed global investment sentiment.

"It is incredible just how markets veer when sentiment slides.

"It appears little can be done, as weaker economic data will trigger disproportionate downside moves. Reassuring statements from the US administration or the Federal Reserve, will be perceived as a sign of weakness, which unleashes in turn new waves of selling,” he said in an email today.

Market breadth was negative with 300 losers to 283 gainers, while 339 counters were unchanged, 965 untraded and 54 others suspended.

Turnover stood at 803.13 million shares worth RM447.82 million.

Among heavyweights, Tenaga fell four sen to RM13.54, Petronas Chemicals dropped three sen to RM9.33, CIMB was two sen weaker at RM5.76, while Maybank increased three sen to RM9.43 and Public Bank was unchanged at RM24.88.

Of actives, Hubline inched up half-a-sen 4.5 sen, VS Industry added 1.5 sen to 72 sen, while Sapura Energy retreated half-a-sen to 29 sen.

Permaju and Bumi Armada were unchanged at 34.5 sen and 15 sen respectively.

Nestle was the top loser, easing 90 sen to RM147.10, as Dutch Lady lost 70 sen to RM61.50, Ajinomoto dropping 60 sen to RM19.00, BAT falling 38 sen to RM35.98 and Malaysia Airports being 22 sen lower at RM8.22.

The FBM Emas Index rose 3.83 points to 11,527.47, the FBMT 100 Index gained 2.85 points to 11,445.61 and the FBM Emas Shariah Index perked 14.96 points to 11,500.25.

The FBM Ace Index was 24.71 points higher at 4,262.37 and the FBM 70 increased 28.63 points to 13,095.19.

Sector-wise, the Finance Index slid 11.98 points to 17,335.07, the Industrial Products and Services Index eased 0.01 of-a-point to 166.42, but the Plantation Index advanced 35.95 points to 6,864.98. — Bernama