KUALA LUMPUR: The overnight tumble on Wall Street pushed Asian stocks including Bursa Malaysia sharply lower early Wednesday with Public Bank, Petronas Dagangan and Petronas Gas among the top losers.
At 9.11am, the KLCI was down 14.45 points or 0.84% to 1,696.26. Turnover was 198.81 million shares valued at RM121.73mil. There were 54 gainers, 399 losers and 133 counters unchanged.
Asian stocks fell, weighed by a renewed bout of selling on Wall Street, and crude oil struggled after a sharp slide as economic growth concerns gripped global markets, Reuters reported.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.55%. Australian stocks lost 1% and Japan's Nikkei fell 1.3%.
US oil prices stabilised after slumping more than 6% the previous day, with some support coming from a report of an unexpected drop in US commercial crude inventories.
US West Texas Intermediate (WTI) crude futures, were at US$53.57 per barrel at 0028 GMT, up 14 cents from their last settlement.
At Bursa, Petronas Dagangan and Petronas Gas fell 16 sen each to RM27 and RM18.64 but Petronas Chemical advanced six sen to RM9.37.
Public Bank fell 18 sen to RM24.82. United Plantations fell 72 sen to RM26, BAT 70 sen to RM37.58, Allianz 56 sen to RM11.72.
KESM lost 16 sen to RM10.50 and SAM Engineering 15 sen to RM8.25.
Dagang Nexchange
fell two sen to 35 sen in active trade while MyEG lost three sen to RM1.12.
Top Vision rose five sen to 23 sen when it made its debut on the LEAP Market.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
