KUALA LUMPUR, May 28 — Bursa Malaysia was slightly lower at mid-morning due to concerns over the United States (US)-China tension.
At 11.06am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 0.08 of-a-point to 1,451.65 from 1,451.73 at the close yesterday.
On the broader market, losers outpaced gainers 564 to 256, while 331 counters were unchanged, 744 untraded and 57 others suspended.
Turnover stood at 2.88 billion units worth RM1.83 billion.
A dealer said the performance by Asian stocks were mixed as rising tensions between the US and China curbed optimism for global economic recovery after the US President Donald Trump promised “interesting” action against China by the end of this week over its proposed crackdown on Hong Kong.
The dealer said the announcement of a new stimulus package by the European Commission, which has forced some investors to take a step back from making any position, also partly contributed to the mixed performance in Asian bourses.
Meanwhile, Maybank Investment Bank Bhd said in a note that the FBM KLCI is expected to range between 1,430 and 1,480 today, with downside supports at 1,398 and 1,375.
Among heavyweights, Public Bank and Maxis bagged two sen each to RM15.26 and RM5.33 respectively, Petronas Chemicals rose 15 sen to RM6.20, and IHH gained four sen to RM5.49.
Maybank was flat at RM7.40 but Tenaga slipped one sen to RM12.10.
Of the actives, Lambo inched up half-a-sen to 2.5 sen, Key Alliance eased half-a-sen to eight sen, GD Express shed six sen to 38.5 sen, Comfort Gloves added one sen to RM3.09, while DGB, Sanichi and XOX were flat at 2.5 sen, nine sen and 6.5 sen, respectively.
On the index board, the FBM Emas Index trimmed 5.19 points to 10,298.63, the FBM Emas Shariah Index eased 4.49 points to 11,849.34, and the FBM ACE contracted 105.00 points to 5,446.74.
Meanwhile, the FBMT 100 Index gained 2.08 points to 10,152.47 and the FBM 70 rose 13.57 points to 12,951.03.
Sector-wise, the Plantation Index gave up 66.24 points for 6,741.44, the Financial Services Index lost 8.37 points to 12,341.96, while the Industrial Products and Services Index added 0.87 of-a-point to 127.26. — Bernama
