KUALA LUMPUR, Aug 1 ― Bursa Malaysia was lower at mid-morning, with the benchmark index remaining in negative territory, dragged down by bearish market sentiment.
At 11.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.934 point to 1,633.94 from yesterday’s close of 1,634.87.
There were 358 losers to 249 gainers, while 367 counters remained unchanged, 915 untraded and 28 others suspended.
Turnover stood at 926.94 billion units worth RM560.20 million.
Public Investment Bank Bhd said investors were disappointed that the Federal Reserve (Fed) cut interest rates to cushion the US economy from the effects of the trade war with China, but refrained from suggesting further rate cuts were on the way.
“Investors were widely expecting a 0.25 per cent cut in the federal funds rate, but some were disappointed the Fed didn’t lower interest rates by more than a quarter point, or clearly signal that further rate cuts were on the way,” the research house said.
The Dow Jones Industrial Average sank to a triple-digit loss, its biggest one day fall since May 31.
The index closed down 1.2 per cent at 26,864, the S&P 500 shed 1.1 per cent to 2,980, while the Nasdaq Composite lost 1.2 per cent to 8,175.
on Bursa, among heavyweights, Maybank and IHH Healthcare gained three sen each to RM8.68 and RM5.77 respectively, while Tenaga bagged two sen to RM13.84.
Public Bank lost 10 sen to RM21.80, Petronas Chemicals trimmed two sen to RM7.47 and CIMB slipped one sen each to RM5.07.
Of the active stocks, I-Stone shed one sen to 18.5 sen, KNM inched up half-a-sen to 41 sen, Zelan perked 1.5 sen to 10 sen, while Netx was flat at 1.5 sen.
Newly-listed Tashin, slid 7.5 sen to 50.5 sen from the offer price of 58 sen.
The FBM Emas Index contracted 8.74 points to 11,580.93, the FBMT 100 Index depreciated 7.06 points to 11,406.78, the FBM Ace eased 7.65 points to 4,760.14, the FBM Emas Shariah Index slid 5.12 points to 11,997.82, while the FBM 70 eased 11.43 points to 14,482.92.
Sector-wise, the Financial Services Index gave up 22.66 points to 16,036.34 and the Plantation Index fell 45.49 points to 6,687.8, but the Industrial Products and Services Index gained 0.83 point to 155.15. ― Bernama
