No respite for Bursa Malaysia as losses extend into sixth day

Genting slumped 15 sen to RM6.80 and erased 1.01 points while GentingM was down three sen to RM3.25 following the recent corporate news which were viewed as negative by investors.

KUALA LUMPUR: Bursa Malaysia extended its losses for the sixth trading day on Tuesday with no respite as US-China trade tension continues to dampen sentiment.

At 5pm, the FBM KLCI was down 10.68 points or 0.64% to 1,652.63 – dragged down by losses in CIMB, Maxis and Public Bank. 

Turnover was lower at 1.43 billion shares valued at RM1.51bil. Decliners beat advancers more than two to one or 549 losers to 253 gainers and 331 counters unchanged.

Meanwhile, stocks were mixed, with European shares rallying while US futures slipped with Asian shares as investors weighed the prospects for success in US-China trade talks, Bloomberg reported.

Hong Kong's Hang Seng Index closed up 0.07% and China's Shanghai Composite Index gained 0.37% but Japan's Nikkei 225 fell 0.34%, South Korea's Kospi eased 0.04% while Singapore's STI closed down 0.43%.

At Bursa, CIMB fell 14 sen to RM5.51 and erased 2.37 points from the KLCI, Public Bank fell and Hong Leong Bank lost 20 sen each to RM24.50 and RM20.10 while RHB Bank fell eight sen to RM5.25 and Maybank three sen to RM9.34.

Among the telcos, Maxis lost 14 sen to RM5.22 and erased 1.94 points, Digi shed six sen to RM4.33, Axiata four sen to RM3.76 but Telekom edged up one sen to RM2.59.

US light crude oil shed seven cents to US$50.93 and Brent slipped six cents to US$59.91. Petronas Dagangan fell 34 sen to RM25.30, Petronas Gas two sen to RM19.08 and Petronas Chemical one sen to RM9.18 whoile Dialog was flat at RM3.17.

BAT fell 70 sen to RM36, Dutch Lady lost 50 sen to RM61.80, Heineken 38 sen to RM19.82 but Nestle rose RM1.10 to RM146 and Carlsberg gained 30 sen to RM19.56.

Crude palm oil for third month delivery fell RM34 to RM2,008 per tonne.

BLD Plantations lost 27 sen to RM6.73, Sime Plantation four sen to to RM4.44, IOI Corp shed two sen to RM4.25, PPB Group was flat at RM17 but KL Kepong rose six sen to RM23.96.

Selling pressure on Prestaring eased, down 1.5 sen to 29 sen, but it was still heavily traded with 39.7 million shares done.

My EG  lost four sen to RM1.01 in active trade.

IHH Healthcare rose nine sen to RM5.49 and added 1.4 points to the KLCI, Tenaga shed two sen to RM13.54 while GentingM was one sen lower at RM2.80 and Genting Bhd 12 sen lower at RM5.93.

The ringgit weakened against the US dollar and Singapore currency but rose against the pound sterling and euro.

It fell 0.31% against the greenback to 4.1845 and lost 0.11% to the Singapore unit tp 3.0474 but it rose 0.56% to the pound sterling at 5.2760 and eked out a 0.04% gain to the euro at 4.7600.