KUALA LUMPUR, Oct 9 — Bursa Malaysia was lower at mid-afternoon today at an almost intra-day low as selling occurred amid the US-China trade dispute, said dealers.
At 3pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 9.57 points to 1,549.22 from 1,558.79 at yesterday’s closing.
The benchmark index opened 4.06 point weaker.
On the broader market, losers led gainers 477 to 250, while 750 counters were unchanged, 534 untraded and 29 others suspended.
Turnover amounted to 1.25 billion shares worth RM851.56 million.
Malacca Securities Sdn Bhd said in a note that the US-China trade relations worsened after Washington imposed visa restrictions on Chinese officials connected to the mass detention of Uighurs in China.
“In the interim, the research firm think that the selling may continue as the trade war rhetoric ratchets up, in tandem with most overseas equities,” it said.
Among heavyweights, Maybank declined six sen to RM8.39, Tenaga reduced 14 sen to RM13.56, PBBank decreased 12 sen to RM19.18, while PChem and IHH slid five sen each to RM7.12 and RM5.62, respectively.
Of the most active, Bumi Armada added two sen to 37 sen, Ekovest and Iskandar Waterfront City were 1.5 sen lower at 81 sen and 93 sen respectively, while Sumatec and Priceworth were flat at one sen and six sen, respectively.
The FBM Emas Index slid 68.11 points to 11,006.14, the FBMT 100 Index shed 68.45 points to 10,828.2 and the FBM Emas Shariah Index trimmed 77.79 points to 11,593.75.
The FBM 70 depreciated 93.78 points to 13,800.77, and the FBM Ace decreased 36.53 points to 4,578.4.
Sector-wise, the Financial Services Index trimmed 63.47 points to 14,969.16, the Industrial Products & Services Index was 0.9 of-a-point weaker at 149.21, and the Plantation Index decreased 38.69 points to 6,530.89. — Bernama
