Business

Bursa lower, tracking subdued Wall Street

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Syndicated News
Written by Syndicated News

KUALA LUMPUR, Oct 9 2019 : Bursa Malaysia opened easier today, tracking the subdued overnight Wall Street performance.

At 9.14 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) decreased 5.12 points to 1,553.67 from 1,558.79 yesterday. 

The benchmark index opened 4.06 points weaker at 1,554.73.

On the broader market, losers outpaced gainers 163 to 99, while 1,144 counters were unchanged, 605 untraded and 29 others suspended.

Turnover amounted to 551.74 million shares worth RM189.58 million.

Public Investment Bank Bhd said stocks staged a late session sell-off as the Trump administration’s decision to impose visa restrictions on Chinese government officials connected to the mass detention of Uighurs in western China revived concerns about trade tension between the world’s two biggest economies.

“The late tumble saw the S&P 500 finish 1.6 per cent lower, and the Dow Jones Industrial Average was down 1.2 per cent,” it said in a note.

Among heavyweights, Maybank, CIMB and Petronas Gas declined two sen to RM8.43, RM4.88 and RM16.28 respectively, while PBBank and IHH were flat at RM19.30 and RM5.67 respectively.

Of the most active, Bumi Armada and Iskandar Waterfront City rose half-a-sen to 35.5 sen and 92 sen respectively while Sanichi, MUI Properties and Sumatec were flat at five sen, 17 sen and one sen respectively.

The FBM Emas Index decreased 33.22 points to 11,041.03, the FBMT 100 Index trimmed 34.06 points to 10,862.59 and the FBM Emas Shariah Index eased 36.02 points to 11,635.52.

The FBM 70 depreciated 36.56 points to 13,857.98 and the FBM Ace declined 16.96 points to 4,597.97.

Sector-wise, the Financial Services Index decreased 32.17 points to 15,000.47, the Industrial Products & Services Index was 0.4 point weaker at 149.71 while the Plantation Index advanced 3.23 points to 6,572.81. – 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.