Bursa slips ahead of US-North Korea summit, US Fed meeting


: Bursa slipped as the region opened to a mixed-bag of results with some Asian markets tentatively moving higher ahead of the start of a US-North Korean summit in .

Investors are hoping for an amicable resolution during a historic meeting between US President Donald Trump and North Korean leader Kim Jong Un  to end a nuclear standoff in the Korean peninsula.

Meanwhile, attention is also turned towards the US Fed meeting that begins later today, which is widely expected to end with the announcement of a second interest rate hike.

At 9.15am, the FBM KLCI was four points lower at 1,771.8. There were 281 million shares done with a value of RM169mil.

Gainers outpaced decliners 156 to 136 with 172 counters unchanged.

F&N led gains on the bourse today, rising 98 sen to RM37.76. Hengyuan also rose seven sen to RM7.10 while Yinson grew nine sen to RM4.69.

Among the heavyweights, Petronas Gas rose 22 sen to RM17.96 and Hong Leong Financial Group gained 14 sen to RM18.98.

MAHB is in the spotlight today following reports that its May airport traffic numbers met with analyst expectations. The counter put on eight sen to RM8.88.

Declining in early trade, Petronas Dagangan slipped 19 sen to RM25.12. Tenaga fell 16 sen to RM14.40, Digi dropped six sen o RM4.49 and Hartalega slid six sen to RM6.34.

Most actively traded stocks on Bursa Malaysia included Sapura Energy gaining 4.5 sen to 68 sen, MyEG, which was unchanged at 94 sen and Velesto, which gained half a sen to 29 sen.

Oil priced were little moved in the early session as traders held on to their positions ahead of a meeting between OPEC and its non-member allies on June 22. WTI crude was down four cents to US$66.06 a barrel while crude slipped 10 cents to US$76.40 a barrel.

Source: The Star

Comments are Closed