Bursa closes lower amid mounting trade war concerns

KUALA LUMPUR: Bursa Malaysia closed lower today on continued selling pressure since mid-morning, notably in finance-linked heavyweights against the backdrop of mounting concerns over a trade war between the United States (US) and major economies.
At the close, the key FTSE Bursa Malaysia KLCI (FBM KLCI) was 16.06 points or 0.94% easier at 1,678.10 from last Friday's 1,694.15.
The index opened 12.87 points firmer at 1,707.02 and moved between 1,678.10 and 1,707.02 throughout the day.
Market breadth was negative with losers outpacing gainers 520 to 298, while 406 counters were unchanged, 702 untraded and 32 others were suspended.
Volume, however, was slightly higher at 2.04 billion shares, worth RM1.96 billion, from 2.00 billion shares valued at RM2.22 billion, transacted last Friday.
Most Asian shares also dipped on news that the US was planning to curb Chinese investments into US technology sectors, citing security risks.
On Bursa Malaysia, banking counters including Maybank fell 11 sen to RM9.08, Public Bank shed 20 sen to RM22.72, CIMB declined 41 sen to RM5.40, RHB erased 12 sen to RM5.53 and HLFG lost six sen to RM18.12.
Other heavyweights, Tenaga bagged six sen to RM13.86, Petronas Chemicals added four sen to RM8.44 and IHH eased one sen to RM5.99.
Of actives, Sapura Energy recovered one sen to 65.5 sen, Iris was flat at 15.5 sen and MYEG gave up 1.5 sen to 98.5 sen.
Top losers, BAT dipped RM1.02 to RM34.10, Magni fell 65 sen to RM4.45 and Heineken contracted 38 sen to RM21.40.
The FBM Emas Index decreased 93.70 points to 11,879.76, the FBMT100 Index retreated 92.81 points to 11,665.83 and the FBM70 was 45.39 points weaker at 14,516.41.
The FBM Ace Index shrank 105.94 points to 5,161.52 and the FBM Emas Shariah Index fell 20.48 points at 12,021.40.
Sector-wise, the Finance Index erased 280.01 points to 16,574.95 and the Industrial Index eased 1.28 points to 3,117.69 but the Plantation Index gained 43.19 points to 7,552.95.
Main Market volume declined to 1.18 billion shares, worth RM1.79 billion, from 1.24 billion shares, valued at RM2.05 billion on last Friday.
Warrants volume rose to 601.59 million units, valued at RM158.60 million, against 527.68 million units worth RM133.23 million, previously.
Volume on the ACE Market improved to 251.96 million shares, worth RM50.94 million, versus Friday's 239.03 million valued at RM43.01 million.
Consumer products accounted for 71.98 million shares traded on the Main Market, industrial products (145.85 million), construction (106.46 million), trade and services (593.87 million), technology (61.37 million), infrastructure (18.58 million), SPAC (1.50 million), finance (68.89 million), hotels (256,500), properties (75.36 million), plantations (35.01 million), mining (21,000), REITs (2.42 million) and closed/fund (21,000). — Bernama