FBM KLCI slides on growing uncertainty

KUALA LUMPUR: The FBM KLCI retreated amid an uncertain trading environment as fears remained over the future of embattled China Evergrande.

At 12.30pm, the key index was down 6.74 points to 1,532.6, dragged lower by a slide in key heavyweights including Maybank and Tenaga Nasional.

Amid a mixed performance in the financial sector, Maybank was down five sen to RM8.10 while CIMB dropped five sen to RM4.82. Hong Leong Bank rose four sen to RM18.68 and Public Bank added one sen to RM4.07.

Other laggards on the blue-chip index included Press Metal shedding five sen to RM5.65, Axiata slipping three sen to RM4.08 and Sime Darby Plantation slipping seven sen to RM3.60.

In semiconductors, MPI lost 50 sen to RM45.14 while KESM rose 30 sen to RM12.86 and Vitrox climbed 18 sen to RM20.18.

Top actives were DNeX down two sen to 81 sen, KAB rising two sen to 41.5 sen and Sapura Energy unchanged at 11.5 sen.

While there were fears arising from China's property sector, investment appetite remained strong as large developed economies maintained supportive monetary policies to fuel the recovery trend.

Japan's Nikkei jumped 2.1% while South Korea's Kospi stepped back 0.1%.

China's main index was also down 0.1% while Hong Kong's Hang Seng stayed flat.

Australia's ASX200 was down 0.4%.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Bursa Malaysia , FBM KLCI , equities


Next In Business News

SC issues new guidelines, technical notes on investment advisory
Sapura Energy returns to black in 3Q, posts net profit of RM10.18mil
Mohammed Che Hussein to retire as Gamuda chairman
Mitrajaya wins RM265.87mil construction contract
Benjamin Teo, now substantial shareholder of Paramount
Ringgit ends slightly lower vs greenback ahead of FOMC meeting
Propel Global to acquire 51% stake in Best Wide Engineering for RM7.82mil
Bermaz Auto reports more than two-fold profit jump in 2Q
Sime Darby Motors appointed exclusive BYD EV distributor
FBM KLCI reverses gains, falls 0.95 points

Others Also Read