KLCI, Asia retreat as anxieties continue over US-China meet


KUALA LUMPUR: The FBM KLCI was slightly lower in morning trade as global markets braced themselves for a US-China meeting at this week's G20 Summit in Japan.

At 12.30pm, the local index was down 2.81 points to 1,673.32. 

Trading volume was 938.53 million shares valued at RM674.73mil. There were 376 decliners versus 258 gainers and 357 counters unchanged.

Elsewhere in the region, equities were on a slide as investors took the sidelines over the uncertain outcome of the trade negotiations.
 
A Washington spokesperson said yesterday that the G20 Summit meeting would be an opportunity for Trump to gauge where Beijing stands on the issue of the trade war and that the president would be "comfortable with any outcome".

The Shanghai Composite Index was down 1.8%, the CSI300 Index shed 2.1% and Hong Kong's Hang Seng Index fell 1.3%.

Japan's Nikkei Index was 0.5% in the red while South Korea's Kospi Index dropped 0.1%.

Most actively trade counters on Bursa Malaysia included Lambo up 0.5 sen to 6.5 sen, Armada unchanged at 21 sen and Sumatec unchanged at one sen.

KLCI-linked stocks on the decline were Nestle down 30 sen to RM148.30, Hong Leong Bank dropping 30 sne to RM19.12 and Genting falling 15 sen to 35 sen.

Gainers meanwhile were led by Tenaga up 24 sen to RM14.04.



Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Oil settles higher on Mideast supply concerns
MAA to sell entire stake in Turiya for RM53mil
Tesla’s plan for affordable cars takes page from Detroit rivals
Singapore’s growth trajectory remains intact and on track for faster growth in 2024
Japan frets over relentless yen slide as BoJ keeps ultra-low rates
Rising data centre ability
CMM seeks feedback on Sector Guides for ESG disclosures
Making scents of success
Blackstone, KKR mortgage REITs stung by office debt challenges
Sapura Energy takes a step to turn the tide

Others Also Read