Bursa selloff at opening in line with global markets

Broadly negative sentiments resulted in a jittery Bursa taking a hit as heavyweights open in a downward spiral. — Reuters pic
Broadly negative sentiments resulted in a jittery Bursa taking a hit as heavyweights open in a downward spiral. — Reuters pic

, Oct 25 — Shares on Bursa opened lower today due to losses in heavyweights and in line with the weaker overnight performance of .

At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 12.95 points lower at 1,677.09 from yesterday’s close of 1,690.04.

The index opened 10.68 points weaker at 1,679.36.

A dealer said the decline on Asian markets, including Bursa Malaysia, was due to a selloff in .



“On Wall Street, the S&P 500 fell for a sixth successive session to end 3.1 per cent lower at 2,656, the Nasdaq Composite index ended 4.1 per cent lower and the Dow Jones Industrial Average declined 2.4 per cent.

“The market is jittery, caused by weak US housing data, mixed corporate earnings results, trade war fears and worries of slowing global economy,” he added.

Closer to home, ’s Straits Times Index (STI) fell 1.25 per cent to 2,994.71, the Jakarta Composite Index was 1.53 per cent weaker at 5,709.42 and Hong Kong’s Hang Seng Index fell 0.38 per cent to 25,249.78.

On the broader market on Bursa Malaysia, losers led gainers 468 to 32 with 130 unchanged, 1,283 counters untraded and 31 others suspended.

Volume stood at 193.48 million units valued at RM108.28 million.

Among heavyweights, Maybank fell five sen to RM9.33, declined 16 sen to RM24.72, Petronas Chemicals fell 11 sen to RM9.23, while Tenaga was eight sen better at RM13.98.

For actives, Hibiscus Petroleum shed four sen to RM1.08, Prestariang gained one sen to 53 sen and Sapura Energy eased one sen to 33.5 sen.

The FBM Emas Shariah Index decreased 126.96 points to 11,488.21, the FBM Ace Index fell 144.04 points to 4,780.54 and the FBM 70 was down 246.06 points at 13,254.08.



The FBM Emas Index declined 125.29 points to 11,555.47 and the FBMT 100 Index lost 116.49 points to 11,408.7.

Sectorwise, the Plantation Index shed 34.91 points to 7,345.72, the Industrial Products and Services Index was 2.05 points weaker at 167.69 and the Financial Services Index was 116.3 points lower at 17,100.13. — Bernama

Source: The Malay Mail Online





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