KUALA LUMPUR: Shares fell early Monday as investor confidence took a hit on the weaker outlook for the global economy due to the US-China trade conflict but My EG Services rebounded.
At 9.06am, the FBM KLCI was down 5.06 points or 0.29% to 1,727.08. Turnover was 185.82 million shares valued at RM114.21mil. There were 117 gainers, 154 losers and 162 counters unchanged.
The outlook for global growth in 2019 has dimmed for the first time, according to Reuters polls of economists who said the US-China trade war and tightening financial conditions would trigger the next downturn.
Meanwhile, Asian share markets fell anew as investors braced for the peak of the U.S. earnings season while angst over Saudi Arabia, Italy and Brexit kept geopolitics front and centre, Reuters reported.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.25%. Japan's Nikkei slipped 1% and South Korea stocks lost 0.7%.
At Bursa, Takaful was the top loser, down 19 sen to RM3.55 and Nestle fell 10 sen to RM144.40, Vitrox shed seven sen to RM7.98, Cypark lost six sen to RM2.50.
Axiata fell seven sen to RM3.64, Sime Plantations and Maxis shed six sen each to RM5.22 and RM5.33 while Affin shed five sen to RM2.25.
BAT rose 48 sen to RM32.50 and F&N added 40 sen to RM35.60 while Carlsberg added 18 sen to RM17.54 and Heineken 14 sen to RM17.80.
My EG jumped 19 sen to RM1.32 with 51.72 million shares done. Last Friday, it was battered on worries about the fallout from the charges against former deputy prime minister Datuk Seri Ahmad Zahid Hamidi.
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