Easier on continued selling of heavyweights

BURSA Malaysia ended lower yesterday on continued selling of heavyweights in line with most regional markets as investors remained cautious amid renewed concerns over the US-China trade dispute, dealers said.

The FBM KLCI fell 10.82 points to close at 1,792.94. After opening 11.90 points lower at 1,791.86, the key index moved between 1,797.97 and 1,788.52 during the day.

On the broader market, losers led gainers 611 to 272, with 317 counters unchanged, 685 untraded and 19 others suspended. Volume was lower at 1.79 billion units, worth RM1.98 billion.

Among the heavyweights, Maybank slipped 16 sen to RM9.74, Public Bank eased 4 sen to RM24.90, Petronas Chemicals fell 5 sen to RM9.41, CIMB lost19 sen to RM6.04 while TNB added 2 sen to RM15.82.

Among the most actives, Sapura energy declined 1 sen to 44.5 sen, Priceworth International eased halfa-sen to 4.5 sen, MyEG rose 6 sen to RM1.70 while Nova MSC was flat at 17 sen.

A dealer said there were reports that US President Donald Trump would most likely impose tariffs on US$200 billion worth of Chinese goods and that Beijing was considering rejecting trade talks with Washington.

“This collectively resulted in a cautious start to the trading week for investors, where they prefer to remain on the sidelines, awaiting clarity on the ongoing issue before deciding on their next course of action with their portfolios,” he said. – Bernama