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

  • Business
  • Tuesday, 25 Jun 2019

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.

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