Bursa lower at mid-morning

Bursa lower at mid-morning

KUALA LUMPUR,. Bursa Malaysia turned lower at mid-morning today dampened by weaker external sentiments amid uncertainties surrounding US-China trade negotiations and worries over slowing global growth.

At 11am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.21 points weaker at 1,683.31 from Friday’s close of 1,686.52.

The index opened 2.18 points firmer at 1,688.7.

Losers slightly edging gainers by 289 to 285, while 298 counters were unchanged, 981 untraded and 23 others suspended.

Turnover was at 987.68 million shares worth RM402.05 million.

A dealer said sentiments was further dampened over latest development that US President Donald Trump reportedly is ready to sign an order this coming week banning Chinese telecommunication equipments from US wireless networks.

“This also comes in the face of the European Commission sharply lowering their growth forecasts for the Eurozone the day before, rekindling fears that the global economy may be slowing down,” he added.

Among heavyweights, Maybank and CIMB added one sen each to RM9.59 and RM5.68 respectively.

Public Bank lost four sen to RM24.88, TNB eased two sen to RM13.18 and Petronas Chemicals slipped one sen to RM8.44.

Of the most actives, Prestariang added 2.5 sen to 38.5 sen and VS Industry gained two sen to 86 sen while Bumi Armada slipped half-a-sen to 23 sen.

Sapura Energy and JAG were flat at 28 sen and eight sen respectively.

The FBM Emas Index was 14.72 points weaker at 11,710.8, the FBMT 100 Index declined 21.54 points to 11,580 and the FBM Emas Shariah Index decreased 26.4 points to 11,566.63.

The FBM Ace Index trimmed 23.61 points to 4,531.61 and the FBM 70 shed 23.73 points to 14,009.17.

Sectorwise, the Financial Services Index rose 25.23 points to 17,667.34 while the Plantation Index fell 29.85 points to 7,269.75 and the Industrial Products and Services Index was 0.25 of-a-point easier at 161.72. — Bernama