Bursa Malaysia remains in the red at mid-morning

Bursa Malaysia remains in the red at mid-morning

KUALA LUMPUR,. Bursa Malaysia remained in the red across the board at mid-morning today, as investors weighed on global risk sentiment.

At 11.02am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 13.56 points lower at 1,688.43 after opening 3.27 points easier at 1,698.72.

OANDA Head of Trading Asia-Pacific Stephen Innes said renewed concern over the US-China trade tensions was not just confined to trade, but also on a significant opportunity to begin mending ideological differences between the world’s leading free economies.

“It is the world’s best example of state-directed capitalism, while making positive strides over global security. It is a huge deal and why it is so extremely important for both sides to get it right. We hope that markets will not end up with a case of misplaced optimism,” he said.

US President Donald Trump is due to meet Chinese President Xi Jinping on the sidelines of the G20 Summit in Buenos Aires this weekend.

Market breadth was negative with losers outpacing gainers 456 to 150, with 287 unchanged, 1,020 untraded and 23 others suspended.

Volume stood at 809.75 million units valued at RM836.31 million.

Among heavyweights, Maybank and Petronas Chemicals were flat at RM9.45 and RM9.26, respectively, Public Bank eased 16 sen to RM24.94, TNB fell 14 sen to RM14.86 and CIMB rose one sen to RM5.68.

Of actives, Sapura Energy eased half-a-sen to 35 sen, Tatt Giap fell 1.5 sen to 23 sen and Lay Hong shed 6.5 sen to 38 sen.

Meanwhile, Genting Malaysia Bhd (GenM) shares has been suspended for the rest of the day as the Last Done Price of the Approved Securities dropped more than 15 sen/15 per cent from the Reference Price.

Bursa Malaysia said the Proprietary Day Trading (PDT) and Intraday Short Selling (IDSS) activities would only be enabled the following trading day, Wednesday, Nov 28, at 8.30 am.

The FBM Emas Index fell 99.62 points to 11,707.70, the FBMT 100 Index declined 98.77 points to 11,561.98, the FBM 70 shed 140.14 points to 13,729.27, and the FBM Ace Index was 41.09 points lower at 4,933.60.

The FBM Emas Shariah Index decreased 75.50 points to 11,777.96.

Sector-wise, the Financial Services Index was 25.21 points weaker at 17,332.27, the Industrial Products and Services Index declined 0.51 of-a-point to 172.13 and the Plantation Index was 53.27 points easier at 7,024.30. ? Bernama