KUALA LUMPUR: Bursa Malaysia slipped early Tuesday, in line with the cautious regional markets after the weaker overnight close on Wall Street, with heavyweight Genting Bhd
, Yinson and Unisem among the biggest losers.
At 9.50am, the KLCI was down 0.26 of a point or 0.01% to 1,745.23. Turnover was 878.77 million shares valued at RM349.22mil. There were 329 gainers, 258 losers and 301 counters unchanged.
Hong Leong Investment Bank Research said the US market may trade in a cautious mode ahead of few key events this week.
“We expect the Dow to continue its sideways consolidation phase between the 20,500 and 20,777 levels,” it said.
However, on the local front, FBM KLCI could see a good trading momentum following a selective buying momentum on Monday, the research house said.
“Also, trading focus may persist on the broader market, specifically the technology lower liners within the ACE market after buying interest was noted among semiconductor related stocks,” said HLIB Research.
Reuters reported Asian share markets were down in skittish early trade on Tuesday as investors held their breath ahead of a potentially tense meeting between US President Donald Trump and his Chinese counterpart Xi Jinping later this week.
The dollar inched lower as investors sold stocks in Europe and on Wall Street overnight to seek shelter in safe havens as political uncertainty overshadowed positive U.S. economic data and solid growth in global manufacturing.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2% in early trade. Japan's Nikkei was down 0.4% as investors sought out the safe-haven yen. China, Hong Kong, Taiwan and India are closed for holidays.
Eco World International, which made its debut on the Main Market on Monday, eked out a one sen gain to RM1.29.
However, investors were seen chasing up the warrants, as they rose 13 sen to 43.5 sen with 84.48 million units done. The warrants are up 43 sen from Monday.
Yinson fell 11 sen to RM3.12, Unisem eight sen lower at RM3.10 while Latitude Tree lost seven sen to RM5.32.
Among the consumer stocks, Nestle fell 20 sen to RM79.20 and BAT 11 sen lower at RM46.
Among the KLCI stocks, KL Kepong fell 16 sen to RM24.54 with 100 shares done, Genting Bhd was down six sen to RM9.54.
Genting Plantations lost six sen to RM11.60, Pharmaniaga and CMSB five sen lower at RM4.85 and RM4.25.
GHL Systems surged 34 sen to RM1.48 with 14.9 million shares done after receiving the takeover offer last week. JHM jumped 24 sen to RM3.18 while MESB and Elsoft added 10 sen each t0 75 sen and RM2.15.
Petronas Dagangan added 30 sen to RM24.20, Bursa 18 sen to RM9.75, Aeon Credit and Tong Her 12 sen each to RM16.14 and RM3.44.
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