Business

Bursa lower due to lack of buying interest

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Syndicated News
Written by Syndicated News

KUALA LUMPUR, Dec 5  Bursa Malaysia opened lower today on a lack of buying interest, a dealer said.

At 9.04 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 8.83 points to 1,686.16  from Tuesday’s close of 1,694.99.

The index opened 11.41 weaker at 1,683.58. 

On the broader market, losers overcame gainers 244 to 44, with 103 counters unchanged, 1,478  untraded and 21 others suspended.

Volume stood at 107.17 million units valued at RM62.01 million.

The dealer said Asian shares fell in early trade as a relief rally sparked by a truce between the US-China trade war, gave way to doubts among investors.

“They (investors) are worried over whether the two economies can really settle their differences before the 90-day deadline. President Donald Trump may extend the trade war truce,” he added. 

Meanwhile, the trading hours for some of the US exchanges would be shorter today as a mark of respect for the late President George H.W. Bush.

Industrial adhesive manufacturer, Techbond Group Bhd, made its debut on the Main Market of Bursa Malaysia, opening at 80.5 sen and recording a 14.5 sen premium above its 0.66 sen issue price. The first trade was done at 10.1 million shares.

At 9.04 am, its shares rose 16.5 sen to 82.5 sen with 24.08 million shares transacted.

Among other actives, Hibiscus Petroleum shed three sen to RM1.08, Sapura Energy slipped half-a-sen to 34 sen, Genting Malaysia fell three sen to RM2.93 and Velesto Energy down by one sen to 21.5 sen.

The FBM Emas Shariah Index declined 75.32 points to 11,682.35, the FBM 70  dropped 104.94 points at 13,500.76 and FBM Ace Index was 57.37 points weaker at 4,747.91.

The FBM Emas Index eased 69.93 points to 11,632.06 and the FBMT 100 Index depreciated 67.04 points to 11,504.94.

Sector-wise, the Plantation Index slid 47.99 points to 6,888.97, but the Industrial Products and Services Index was 0.46 of-a-point weaker at 169.93, and the Financial Services Index slipped 61.01 points to 17,385.21. – Bernama

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