Regional markets jittery but KLCI bucks trend
Dealers said the local bourse have been treading water over the past couple of days. They added most investors appear uncertain as China and the US were set to hit one another with punitive tariffs that risked triggering a full-scale trade war.
At 5pm, the 30-stock index closed at 1,690.65, up 2.20 points, or 0.13%. The index opened 1.77 points higher at 1,690.22 this morning.
Turnover was 2.17 billion shares valued at RM1.44bil. Decliners beat advancers with 452 losers to 405 gainers while 356 counters were unchanged.
KLCI-component stocks were overwhelmingly in the positive, with 19 gainers, eight decliners and three counters unchanged.
Leading the mover on the index was CIMB Group, climbing seven sen to RM5.53, pushing the index up by 1.17 points.
Maybank closed five sen higher at RM9.03, adding 0.977 points to the index while MISC rose nine sen to RM5.99 nudging the index up by 0.717 points. Nestle added 30 sen to RM147.80.
Axiata was one of the biggest losers among the component stocks, shedding 10 sen to RM4.11. Public Bank fell eight sen to RM22.90, Telekom Malaysia declined four sen to RM3.50 while Sime Darby dropped two sen to RM2.38.
Elsewhere in the region, Japan’s Nikkei ended 0.78% percent lower at 21,546.99, the lowest closing since April 4. Hong Kong’s Hang Seng Index ended down 0.21% to 28,182.09, China’s blue chip CSI300 Index closed down 0.63% to 3,342.44 while the Shanghai Composite Index fell 0.9% to 2,733.88.
Meanwhile, oil fell on Thursday after U.S. President Donald Trump demanded OPEC cut crude prices.
Brent crude futures were at US$77.81 per barrel, down 43 cents. U.S. West Texas Intermediate (WTI) crude futures were down seven cents at US$74.07.
Source: The Star