KUALA LUMPUR: Blue chips wavered early Wednesday as Bursa Malaysia attempted to snap two days of losses this week while gains by Tenaga and Genting Bhd
provided some mild support to the FBM KLCI.
At 9.16am, the KLCI was up 0.57 of a point or 0.03% to 1,851.35. Turnover was 183.14 million shares valued at RM61.45mil. There were 179 gainers, 106 losers and 205 counters unchanged.
Reuters reported Asian shares were trying to bounce on Wednesday as investors underwent another of the mercurial mood swings that have plagued markets recently, and one could prove just as fleeting given simmering fears of a trade war.
Late on Tuesday, the Trump administration announced 25% tariffs on US$50bil of annual imports from China, covering around 1,300 industrial technology, transport and medical products.
China's commerce ministry immediately warned it was preparing countermeasures of equal intensity, Reuters reported.
At Bursa, Nestle added RM1.30 to RM151.30, Tenaga 20 sen to RM15.84 abd Genting five sen higher at RM8.82.
Hartalega added 13 sen to RM6.38 and Top Glove six sen higher at RM10.06.
As for tech stocks, MPI gained eight sen to RM8.42 and Inari six sen higher to RM2.61. KESM fell four sen to RM17.50 and Unisem three sen to RM2.36.
Padini fell six sen to RM4.43, Pintaras lost 5.5 sen to RM3.15, K Power added five sen to 60 sen while Comfor lost four sen to 88 sen.
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