Broad selling across Bursa Malaysia, KLCI down 11 points

KUALA LUMPUR: Seeing the selling pressure across the board, Bursa Malaysia began to join its peers in the negative territory.

The market started to curve after US President Donald Trump’s comments on trade, according to the dealers. The US-China trade dispute got a great impact to the investors that they started to worry over slowing growth.

The becnhmark FBM KLCI shed 11.26 points to 1,657.68 after staying in the negative territory throughout the day. The index opened 1.44 points easier at 1,667.50 this morning. Over the course of today’s trading session, the index traded in a range of 11.03 points.

The broader market displayed its weakness as decliners hit advancers by wide margin, with 618 losers to 226 gainers and 399 counters unchanged. Volume stood at to 3.82 billion units, valued at RM1.97bil.

27 of the KLCI-component stocks closed lower while only one counter ascribed gains and two counters closed unchanged.

Leading the index lower, Petronas Chemicals shed 32 sen to RM7.92, Tenaga Nasional shaved 22 sen to RM13.56 while Maxis fell six sen to RM5.64. IOI Corp was the top gainer on the 30-stock index, rising two sen to RM4.24.

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