Malaysiakini News

Bursa Malaysia opens higher, then eases

Bernama  |  Published:  |  Modified:

Bursa Malaysia opened higher but retreated thereafter on mild profit-taking as investors digested the weekend developments in relation to the United States-China trade talks, dealers said.

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.12 of-a-point lower at 1,756.26 from Friday's close of 1,756.38.

The index opened 5.23 points higher at 1,761.61.

On the broader market, gainers led losers 146 to 96, while 144 counters were unchanged, 1,515 untraded and 22 others suspended.

Volume stood at 107.64 million units valued at RM69.39 million.

The dealers said the conclusion of the US-China trade talks, which ended without any announced deals, had triggered fears among investors.

Chinese officials refused to commit to buying more American goods without President Donald Trump’s administration agreement not to impose further tariffs on Chinese exports.

“If the US introduces trade measures, including an increase of tariffs, all the economic and trade outcomes negotiated by the two parties will not take effect,” the dealers added.

Among heavyweights, Maybank fell two sen to RM10.02, TNB shed four sen to RM14.46, Public Bank increased six sen to RM24.06, Petronas Chemicals rose seven sen to RM8.20 and CIMB Group added four sen to RM6.14.

Of the actives, MyEG lost 16 sen to 70 sen, Ewein gained 3.5 sen to 74.5 sen, Berjaya Corporation rose half-a-sen to 30 sen and Sapura Energy fell one sen to 57.5 sen.

The FBM Emas Index eased 2.01 points to 12,233.89, the FBMT 100 Index decreased 3.92 points to 12,050.04 and the FBM Emas Shariah Index fell 5.10 points to 12,215.11.

The FBM 70 declined 15.52 points to 14,426.64 and the FBM Ace lost 4.20 points to 5,045.35.

Sector-wise, the Finance Index was 26.39 points higher at 17,643.42, the Plantation Index declined 34.47 points to 7,665.79 and the Industrial Index fell 8.87 points to 3,155.95.

- Bernama

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