Bursa lower at mid-day in line with Asian shares

KUALA LUMPUR, May 10 — Bursa Malaysia was lower at mid-day, in line with Asian shares, following overnight losses on Wall Street.

The US market’s main indices fell amid critical two-day trade meeting between the top US and Chinese trade negotiators, scheduled to end Friday.

Washington is set to hike tariffs on US$200 billion of goods imported from China.

Due to fragile sentiment, the FTSE Bursa Malaysia KLCI lost 5.03 points to 1,613.50, led by consumer stocks such as Nestle, which lost 0.76 per cent to RM143.90 and F&N slipped 0.6 per cent to RM33.60.

Losers beat gainers 384 to 282 with 355 counters unchanged, 889 untraded and 24 others suspended.

Turnover stood at 1.44 billion shares worth RM872.25 million.

Among heavyweights, Maybank fell one sen to RM8.96, Public Bank was flat at RM22.28 and Petronas Chemicals shed five sen to RM8.85.

Of the actively-traded stocks, Titijaya eased five sen to 3.5 sen, United U-Li down one sen to 72.5 sen while Mieco was half-a-sen better at 27 sen.

The FBM Emas Index declined 25.99 points to 11,401.99, the FBMT 100 Index dropped 25.03 points to 11,232.73 and the FBM Emas Shariah Index decreased 37.80 points to 11,595.59.

The FBM 70 added 8.85 points to 14,134.85 and the FBM Ace eased 26.82 points to 4,517.86.

Sector-wise, the Financial Services Index fell 29.56 points to 16,570.34, the Plantation Index lost 35.31 points to 7,072.44 and the Industrial Products & Services Index was 0.83 of-a-point weaker at 166.26. — Bernama