Bursa Malaysia ends lower on losses in key heavyweights

An investor monitors share market prices in Kuala Lumpur October 11, 2018. — Picture by Ahmad Zamzahuri
An investor monitors share market prices in October 11, 2018. — Picture by Ahmad Zamzahuri

KUALA LUMPUR, Feb 22 — Bursa ended lower today on losses in key heavyweights as investors turned slightly more cautious amidst ongoing trade discussions between and the United States.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 9.26 points to end at 1,721.42 against Thursday’s close of 1,730.68.

After opening 0.17 point lower at 1,730.51 today, the FBM KLCI moved between 1,716.17 and 1,732.27 throughout the day.

A dealer said cautious sentiment clouded the market as investors had their fear levels heightened nearing the March 1 deadline for a positive conclusion to the trade talks.

“Investors’ focus on the talks has sharpened as the deadline is just around the corner, when US tariffs on US$200 billion of imports would jump to 25 per cent from 10 per cent currently, unless the world’s two largest reach an agreement,” he added.

Among local heavyweights, Maybank rose one sen to RM9.54, while and Petronas Chemicals eased two sen each to RM24.98 and RM9.03 and Tenaga lost six sen to RM13.44.

Of actives, Sapura Energy was one sen easier at 31.5 sen, Iskandar Waterfront was four sen better at 63 sen and AirAsia X declined three sen to 26 sen.

Market breadth was negative with 611 losers to 290 gainers, while 371 counters remained unchanged, 595 untraded and 20 others suspended.

Total volume declined to 2.66 billion units valued at RM2.33 billion from 3.71 billion units valued at RM3 billion transacted yesterday. — Bernama

Source: The Malay Mail Online

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