Bursa lower due to global growth worries, hampered local equities demand

bursa higher

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Written by Syndicated News

KUALA LUMPUR, Nov 26 2018 : Bursa Malaysia opened lower as Friday’s decline on Wall Street , due to worries over the global growth outlook, hampered demand for local equities this morning.

At 9.02 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.06 points easier at 1,692.82 from Friday’s close of 1,695.88, after opening 2.84 points weaker at 1,693.04.

In a note, PublicInvest Research said Wall Street’s S&P 500 closed in the correction territory as concerns about the outlook for global growth triggered another slump in oil prices, dragging shares of companies in the sector down with it.

Market breadth was negative with losers thumping gainers 249 to 162, with 806 unchanged, 697 untraded and 20 others were  suspended.

Volume stood at 302.58 million units valued at RM141.9 million.

Among heavyweights, Maybank fell one sen to RM9.41, Public Bank eased six sen to RM24.74 and TNB lost 12 sen to RM14.68.

Of actives, Orion rose half-a-sen to 12 sen, Hibiscus Petroleum declined 2.5 sen to 99.5 sen and Securemetric gained one sen to 46 sen.

The FBM Emas Index lost 27.71 points to 11,751.18, the FBMT 100 Index declined 28.3 points to 11,601.31, the FBM 70 shed 19.87 points to 13,854.08 but the FBM Ace Index was 12.17 points better at 4,952.36.

The FBM Emas Shariah Index decreased 35.4 points to 11,801.32.

Sector-wise, the Finance Index was 35.52 points lower at 17,282.07, the Industrial Products and Services Index edged down one point to 172.45 and the Plantation Index was 11.8 points weaker at 7,170.35. – Bernama



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