Bursa, Asian stocks slide on rising political turmoil in US

  • Markets
  • Friday, 27 Sep 2019

KUALA LUMPUR: The FBM KLCI came under selling pressure amid growing political turmoil in the US as a whistleblower complaints against US President Donald Trump added to uncertainties in the world's largest economy.

At 12.30pm, the local index was 7.13 points lower at 1,585.87, en route to closing at a multi-year low.

Trading volume was 995.44 million shares valued at RM575.19mil. There were 412 decliners versus 215 gainers and 386 counters unchanged.

Bank stocks were broadly lower, led by Maybank down five sen to RM8.65, Public Bank down six sen to RM20.04, CIMB slipping three sen to RM5.03 and Ambank shedding two sen to RM4.14. RHB was unchanged at RM5.59.

Measnwhile Petronas Gas was down 10 sen to RM16.48 and Petronas Chemicals slipped one sen top RM7.51. Petronas Dagangan rose 12 sen to RM23.48.

Tenaga Nasional offered some relief to the KLCI, rising 16 sen to RM13.58 as one of the day's biggest gainers.

On the wider market, Scientex was in the spotlight after posting positive earnings results, climbing 12 sen to RM9.01.

Top active stocks in the morning session were MNC down one sen to 9.5 sen, SUMATEC up 0.5 sen to 2.5 sen and SAPURA ENERGY up 0.5 sen to 29 sen.

Oil prices fell as Saudi Arabia restored production capacity at its damaged facilities following the missile attack in the previous week.

US crude dropped 33 cents to US$56.08 a barrel and Brent crude fell 58 cents to US62.16 a barrel.

In currencies, the ringgit held steady against the US dollar at 4.1945 and was flat against the pound sterling at 5.1715. It rose 0.1% against the Singapore dollar at 3.0341.
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