KUALA LUMPUR: Bursa Malaysia ended lower on Thursday as sliding U.S. bond yields fed fears about a slowdown in the US weighed on investor sentiment.
At 5pm, the benchmark index closed 1.40 points, or 0.09% lower at 1,641.33. The index opened 0.17 of a point higher at 1,642.9 this morning, hit a three month low at midday.
There were 338 gainers, 448 losers and 380 counters traded unchanged on the Bursa Malaysia. Turnover stood at 1.937 billion shares valued at RM1.663bil.
Dealers said investors weigh the likelihood of a sharper global economic slowdown amid the persistent inversion of the U.S. Treasury yield curve. U.S. Treasury bond yields fell again on Wednesday, heightening fears of a possible recession in the US economy.
At Bursa Malaysia, Carlsberg was the top loser, falling 16 sen to RM26.54. Apex Healthcare
declined 15 sen to RM8.87 and Lotte Chemical Titan shed 13 sen to RM4.05.
Nestle gained RM1.40 to RM146.40, British American Tobacco added 48 sen to RM35.48 while Heineken Malaysia closed 22 sen higher to RM23.44.
Laggards in the KLCI component stocks were led by Maxis, Sime Darby Plantations and Public Bank. Maxis shed nine sen to RM5.36, pushing the index down by 1.222 points. Sime Darby fell seven sen to RM5.02, nudging the index down by 0.837 and Public Bank declined 12 sen to RM23.28, dragging the KLCI down by 0.809 points.
Elsewhere in the region, Japan’s Nikkei was down 1.61% at 21,033.76. China’s CSI300 index fell 0.4% to 3,728.40 while Hong Kong’s Hang Seng gained 0.16% to 28,775.21. South Korea’s Kospi eased 0.82% to 2,128.10.
European shares edged higher on Thursday as signs of progress in U.S.-China trade talks offset nerves over global growth and Britain’s chaotic path towards leaving the European Union, Reuters reported.
Germany’s DAX 30 rose 0.5%, France’s CAC 40 gained 0.41% while UK’s FTSE 100 eased 0.71% in early trade.
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