KL shares turn lower across-the-board at mid-morning

KL shares turn lower across-the-board at mid-morning

KUALA LUMPUR, Aug 13 — Bursa Malaysia turned lower across-the-board at mid-morning today as investor sentiment took a hit amid Turkey’s deepening economic crisis, dealers said.

At 11.04am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 16.13 points weaker at 1,789.62 from Friday’s close of 1,805.75.

The index opened 2.10 points lower at 1,803.65.

On the broader market, losers led gainers 597 to 146 with 293 unchanged, 859 untraded and 32 others suspended.

Volume stood at 821.09 million units valued at RM562.73 million.

A dealer said the performance of the local bourse was also in line with regional peers with investors cautious about the contagion effect of the steep fall in the lira, Turkey’s currency.

This came after US President Donald Trump said he had approved metals tariffs on Turkey to be doubled.

Of the heavyweights, Maybank eased two sen to RM9.87, Public Bank declined four sen to RM24.36, Tenaga fell 24 sen to RM15.54, Petronas Chemicals slid seven sen at RM9.14 and CIMB lost four sen to RM5.89.

Among actives, Borneo Oil was flat at six sen, with Foundpac and Sapura Energy each adding half-a-sen to 41.5 sen and 59 sen respectively.

Of the top losers, United Plantations eased 58 sen to RM27.10, Nestle dropped 50 sen to RM147.30 and Ajinomoto shed 26 sen to RM21.80.

The FBM Emas Index dipped 109.49 points to 12,661.00, the FBM Emas Shariah Index was 141.80 points lower at 12,807.08 and the FBM Ace Index slid 75.43 points to 5,473.97.

The FBMT 100 Index contracted 108.47 points to 12,438.37 and the FBM 70 fell 121.28 points to 15,467.50

Sector-wise, the Finance Index dropped 60.41 points to 17,515.77, the Plantation Index was 53.62 points lower at 7,659.21 and the Industrial Index was down 8.91 points at 3,260.44.

— Bernama