Business

Bursa lower, dragged by blue chips losses

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Syndicated News
Written by Syndicated News

KUALA LUMPUR, Aug 27 2018 : Bursa Malaysia opened easier this morning as losses in blue chips, led by Axiata, dragged the composite index down.

At 9.07 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.24 points weaker at 1,806.35 from Friday’s close of 1,808.59.

The index opened 0.99 points lower at 1,807.06.

Axiata, which reported disappointing first half results, with core profit falling 33 per cent to RM431 million, dragged the composite index by 2.752 points after declining 17 sen to RM4.55, with 30,800 shares changing hands.

On the broader market, gainers slightly outnumbered losers 145 to 121 with 174 counters unchanged, 1,433 untraded and 20 others suspended.

Volume stood at 203.05 million units valued at RM56.82 million.

A dealer said sentiment in Asian equities was mixed as investors reacted to an escalation in the trade war between the US and China with talks to end it seeing with no breakthrough, while some were bullish on the Federal Reserve’s plans to raise interest rates.

Regionally, Singapore’s Straits Times Index lost 1.14 per cent to 3,213, Hong Kong’s Hang Seng Index declined 0.43 per cent to 27,671.87, while Japan’s Nikkei increased 0.63 per cent to 22,743.28.

Among heavyweights, Maybank rose three sen to RM9.84 and Petronas Chemicals bagged eight sen to RM9.45, but Public Bank eased eight sen to RM24.82.

Tenaga and CIMB, however, were flat at RM15.70 and RM5.98 respectively.

Among actives, Xinghe inched up half-a-sen to five sen, PUC added one sen to 17.5 sen, while Sapura Energy slipped half-a-sen 41 sen.

The FBM Emas Index lost 13.37 points to 12,728.12, the FBMT 100 Index fell 13.5 points to 12,515.31, the FBM 70 eased 9.01 points to 15,416.36 and the FBM Emas Shariah Index decreased 16.9 points to 12,864.89.

The FBM Ace Index, however, gained 11.1 points to 5,446.2.

Sector-wise, the Finance Index was 1.97 points lower at 17,682.76, the Industrial Index trimmed 4.72 points to 3,234.54, but the Plantation Index went up 3.6 points to 7,648.95. – Bernama

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