Blue chips barely higher, Asian markets cautious after weak Wall St

KUALA LUMPUR: Blue chips were barely higher in early Tuesday trade, in line with key Asian markets after the weaker overnight close on Wall Street after China’s economy showed signs of slowing down.

At 9.20am, the KLCI was up just 0.16 of a point or 0.01% to 1,676.32. Turnover was 212.76 million shares valued at RM80.56mil. There were 167 gainers, 134 losers and 192 counters unchanged.

Asian shares were on back foot as an unexpected drop in China's exports heightened worries about the global economy while the British pound braced for a showdown in parliament over the government's Brexit plan, Reuters reported.

MSCI's broadest index of Asia-Pacific shares outside Japan was almost flat in early trade while Japan's Nikkei fell 0.7% after a market holiday on Monday.

At Bursa, Uni Wall, which made its debut on the LEAP Market, was up two sen to 18 sen.

Allianz rose 32 sen to RM13.60 with 200 shares done while Amway gained 12 sen to RM5.72 and Petronas Gas 10 sen to RM18.10.

MFCB was up eight sen to RM3.51 and CBIP six sen to RM1.24. UMW advanced six sen also to RM5.66.

FGV added 2.5 sen to 84.5 sen with 4.97 million shares done. CIMB Equities Research is positive on FGV’s aggressive key performance indicators (KPIs) set to turn around its operations and performance.

Litrak fell 28 sen to RM4.22, Hai-O 14 sen to RM2.85 while Vitrox lost eight sen to RM6.01.

Tenaga and Petronas Chemical shed eight sen each to RM13.78 and RM8.27.

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