Bursa lower due to global turbulence


Syndicated News
Written by Syndicated News

KUALA LUMPUR, Jan 4 2019 : Bursa Malaysia opened lower today, in line with regional peers due to the turbulence across global markets, dealers said.

At 9.08 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.42 points to 1,670.41 from yesterday’s close of 1,675.83.

The index opened 3.25 points weaker at 1,672.58.

Market breadth was negative, as losers beat gainers 174 to 54, while 129 counters were unchanged, 1,511 untraded and 22 others suspended.

Turnover stood at 111.62 million shares worth RM39.54 million.  

A dealer said there were mounting concerns over the damaging US-China trade battle, which is impacting global markets.

“As long as there are trade tensions between these two governments, the other markets will be trading on volatility,” he said.

Via its note, Public Investment Bhd said US brand, Apple, set a gloomy tone late on Wednesday after it blamed poor iPhone sales in China for its first sales warning in 16 years.

“The move came hard on the heels of data showing that Chinese manufacturing had contracted last month for the first time since May 2017.

“Meanwhile, global growth worries were compounded on Thursday by the latest report from the US Institute for Supply Management, which showed that factory output on December, had expanded at the slowest pace for more than two years,” it said.

The survey, Public Investment Bank said, also showed that businesses were becoming increasingly worried about the impact of Washington’s trade dispute with Beijing.

Among heavyweights, Maybank and Public Bank fell two sen each to RM9.34 and RM24.58 respectively, Tenaga declined 12 sen to RM13.64, while CIMB was flat at RM5.65.

Of actives, Hubline, Bumi Armada and Sanichi was flat each at 4.5 sen, 15 sen and six sen respectively, and KUB rose one sen to 38.5 sen.

The FBM Emas Index declined 38.27 points to 11,398.14,  the FBMT 100 Index decreased 35.74 points to 11,317.68 and the FBM Emas Shariah Index lost 51.08 points to 11,348.14.

The FBM Ace Index eased 24.84 points to 4,239.31, while the FBM 70 shed 36.78 points to 12,975.82.

Sector-wise, the Finance Index inched down 12.84 points to 17,205.04, the Plantation Index eased 42.24 points to 6,813.03 and the Industrial Products and Services Index slipped 0.24 of a point to 165.50. – Bernama



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Syndicated News

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News sourced from Bernama, Reuters, AFP and other accredited news agencies, including credible blogsites and news portals.