Broader market easier

BURSA Malaysia bucked the regional trend with the benchmark index closing marginally higher on lastminute buying, especially of heavyweights led by Public Bank.

The FBM KLCI finished 1.64 points better at 1,688.77 after moving between 1,679.18 and 1,689.34 during the day.

Public Bank pushed the composite index higher by 1.794 points. The stock soared 26 sen to close at RM22.80 with 5.52 million shares changing hands.

Overall, however, market breadth was negative, with losers outnumbering gainers 556 to 261, with 390 counters unchanged, 662 untraded and 19 others suspended.

Among the other heavyweights Tenaga Nasional rose 8 sen to RM14.50, CIMB gained 3 sen to RM5.38 while Maybank and Petronas Chemicals were flat at RM9.14 and RM8.54, respectively.

A dealer said Asian equities were in full retreat after the United States said it would impose tariffs on an additional US$200 billion worth of Chinese imports, sharply escalating the trade war between the world’s two biggest economies. – Bernama