Bursa lower at midday as trade war fears continue
The Shanghai Composite Index extended its losses by a further 0.9%, dragging down Asian equities one day ahead of the July 6 deadline on the trade tariffs.
At 12.30pm, the FBM KLCI was 0.62 points lower at 1,687.83 after having spent the mid-morning session in postive territory. Turnover was muted to the tune of 1.27 billion shares with a value of RM668.89mil. There were 345 decliners versus 326 advancers and 350 counters unchanged.
Also on the slide were Tenaga Nasional, losing four sen to RM14.36, Axiata dropping three sen to RM4.18, and CIMB slipping one sen to RM5.45.
Maxis gained three sen to RM5.39, IHH Healthcare added two sen to RM6.03 and Petronas Gas rose six sen to RM17.46.
On the broader market, Carlsberg put on 48 sen to RM19.76, BAT added 36 sen to RM34.36 and Supermax rose 16 sen to RM4.58.
Oil prices dropped on Thursday as the market reacted to US President Donald Trump’s tweet requesting that prices be brought lower.
WTI crude fell 27 cents to US$73.87 a barrel and Brent crude dropped 56 cents to US$77.68 a barrel.
Source: The Star