KLCI tumbles, other Asia markets fall after US losses

KUALA LUMPUR: Share prices on Bursa Malaysia tumbled on Wednesday, tracking regional markets as political uncertainties in the US as the market reopened after the Christmas holiday.

At 5pm, the 30-stock index slipped below the flat line, shedding 11.22 points, or 0.67% to 1,672.60 after moving between 1,674.85 and 1,660.80 throughout the day. 

Market breadth was overwhelmingly negative 567 to 208 while 318 counters were unchanged. Turnover stood at 1.41 billion shares valued at RM966.8mil.

In today’s session, 20 of the KLCI-component stocks were traded lower while eight counters advanced while two counters remained unchanged.

Dealers said the overall sentiment appeared weak and selling pressure may continue taking cues from overseas markets. They added that the performance of our local bourse was mainly bogged down by heavy selling interest in heavy weights counters such as Tenaga Nasional, Maxis and Genting. 

Leading decliners on the index were Tenaga, dropping 46 sen to RM13.54, pushing the index down by 4.654 points. Maxis shed 11 sen to RM5.24, dragging the index down by 1.53 points and Genting fell 21 sen RM6.02, nudging the index down by 1.449 points.

On Bursa Malaysia, United Plantations fell 80 sen to RM25, Nestle declined 50 sen to RM145.50 while Petronas Gas shed 40 sen to RM18.78.

Dutch Lady and Heineken Malaysia topped the gainers’ list, adding RM2.10 and 48 sen respectively to RM62 and RM20.36.

Elsewhere in the region, China stocks slipped amid economic worries and the US political uncertainty. 

The blue-chip CSI300 index fell 0.5%, to 3,002.03, while the Shanghai Composite Index lost 0.3% to 2,498.29 points.

Japan’s Nikkei 225 closed 0.89% higher at 19,327.06. South Korea’s Kospi index fell 1.31% to 2,028.01. 

Reuters reported that Singapore stocks led the decline in Southeast Asia, shedding 1.3% to an eight-week closing low, even after the city-state reported robust manufacturing data for November.