KUALA LUMPUR, July 18 — Share prices on Bursa Malaysia ended the morning session lower as renewed trade war fears between the United States and China soured risk appetite, dealers said.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.13 points to 1,654.40 after having closed at 1,657.53 yesterday.
A equity analyst said US President Donald Trump’s planned to impose tariffs on an additional US$325 billion of Chinese goods if a trade deal did not come through on Tuesday. However, the US too could face Chinese sanctions.
The benchmark index, which opened 0.27 of-a-point better at 1,657.50, moved between 1,654.03 and 1,659.94 throughout the morning session.
Market breadth was negative, with losers outnumbering gainers 432 to 231, while 379 counters were unchanged, 849 untraded and 21 others suspended.
Turnover amounted to 1.56 billion shares worth RM811.78 million.
Losers in heavyweight counters were Petronas Chemicals which slid 26 sen to RM7.66, Maxis lost four sen to RM5.60, TNB fell two sen to RM13.54, as Sime Darby Plantation lost one sen to RM4.80 and Public Bank six sen easier at RM22.90.
Of the top losers, Batu kawan was 18 sen easier at RM16.52, KESM and Allianz eased 12 sen to RM7.88 and RM13.86 respectively, while Amway lost nine sen to RM6.11.
The FBM Emas Index declined 23.11 points to 11,754.47, the FBMT 100 Index eased 20.99 points to 11,580.56 and the FBM Emas Shariah Index was 29.82 points weaker at 12,119.04.
The FBM Ace fell 4.01 points to 4,665.50, while the FBM 70 dipped 23.06 points to 14,830.22.
Sector-wise, the Financial Services Index eased 21.04 points to 16,570.52 and the Plantation Index declined 5.47 points to 6,870.56 and the Industrial Products & Services Index was down 1.94 points at 155.63. — Bernama
