KUALA LUMPUR, Nov 13 — Shares on Bursa Malaysia were in the red at mid-day, tracking most of the Southeast Asian stock markets which fell after US President Donald Trump warned Beijing of more tariffs if it fails to reach an agreement.
At 12.35pm, the benchmark FTSE Bursa Malaysia KCLI (FBM KLCI) lost 7.82 points to 1,601.91 against Tuesday’s close of 1,609.73, while moving between 1,601.23 to 1,610.88.
It opened 1.15 points better at 1,610.88.
On the broader market, losers trounced gainers 501 to 211, with 336 counters unchanged, 953 untraded and 19 others suspended.
Turnover amounted to 1.18 billion shares worth RM655.47 million.
A dealer said most of the Asian stocks slipped on Wednesday, amid cautious investors waiting for more clarity on the first phase of a trade agreement between the US and China.
“Moving forward, we estimate the local bourse to trade within a narrow range, coupled with the current political tension in Hong Kong and the Sino-US trade talk,” he said.
He added that market players are also monitoring the developments in Hong Kong, over the escalating political turmoil this week.
Among heavyweights, Maybank declined 11 sen to RM8.68, Public Bank dropped 10 sen to RM19.88, Petronas Chemicals slipped five sen to RM7.75 while Tenaga was six sen better at RM13.74.
Of the actives, Trive Property and DGB Asia warrants were flat each at 1.5 sen and two sen, respectively, Netx inched down half-a-sen to two sen and Prestariang was three sen lower at 45.5 sen.
The FBM Emas Index declined 54.49 points to 11,346.51, the FBMT 100 Index depreciated 52.09 points to 11,161.53 and the FBM Emas Shariah Index decreased 49.54 points to 11,890.21.
The FBM Ace erased 14.83 points to 4,868.67 and the FBM 70 was 55.75 points weaker at 14,082.20.
Sector-wise, the Financial Services Index contracted 76.21 points to 15,625.70, the Industrial Products & Services Index fell 1.17 points to 155.21 and the Plantation Index erased 52.81 points to 6,915.88. — Bernama
