Trade war, corporate earnings pull down KLCI

The FBM KLCI, which comprises the 30 largest companies on Bursa Malaysia, closed 20.62 points lower yesterday to 1,591 points. There were 614 losers, 242 gainers and 327 counters unchanged.

PETALING JAYA: The local stock market was battered down on Tuesday as investors were further spooked by the intensifying trade spat between the United States and China, as well as the sluggish corporate earnings growth.

The world’s two major economies began imposing tariffs on each other’s goods on Sunday despite US president Donald Trump saying that trade talks would continue this month.