KUALA LUMPUR: Bursa Malaysia closed sharply lower, in line with most of the regional stock markets due to renewed concern over the US-China trade tension with losses mostly seen in the consumer product and plantation counters, dealers said.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 20.62 points to close at its intra-day low of 1,591.52 after trading between it and the highest point of 1,616.34.
The market barometer opened 0.64 point higher at 1,612.14
A dealer said Asian stock markets were mostly lower on Tuesday after investors remained on the sidelines as the US-Chinese trade tension resurfaced over a report that negotiators cannot agree on a schedule for talks this month.
He said investors were currently waiting for a more clearer market direction after a news agency recently reported that trade envoys were struggling to agree on a schedule.
On Sunday, the US has started charging 15% tax on about US$112 billion of Chinese imports, with the second world largest economy responded by charging taxes of between 10 and 5.0% on a list of American goods.
Among heavyweights, Maybank rose one sen to RM8.70, TNB slipped 20 sen to RM13.76, Public Bank declined 24 sen to RM20.80, Petronas Chemicals lost 13 sen to RM6.80 and IHH Healthcare shed three sen to RM5.76.
As for actives, NETX, Bumi Armada and Vsolar eased half-a-sen each to one sen, 25 sen and 13.5 sen, respectively, while Ekovest fell one sen to 82 sen.
The FBM Emas Index dipped 147.88 points to 11,200.62, the FBMT100 Index was 148.80 points lower at 11,041.83 and the FBM Emas Shariah Index declined 190 points to 11,722.05.
The FBM Ace eased 45.63 points to 4,442.57 and the FBM 70 lost 208.64 points to 13,736.07.
Sector-wise, the Financial Services Index reduced 120.11 points to 15,429.91, the Plantation Index contracted 129.21 points to 6,760.27, and the Industrial Products and Services Index was 1.78 points weaker at 146.90.
Market breadth was negative as losers thumped gainers 614 to 242, with 327 counters unchanged, 762 untraded and 21 others suspended.
Turnover was higher at 2.26 billion units worth RM1.59 billion from Friday’s 2.22 billion units worth RM2 billion.
Main Market volume slipped to 1.31 billion shares valued at RM1.42 billion from Friday’s 1.48 billion shares valued at RM1.85 billion.
Warrants turnover decreased to 476.08 million units worth RM126.87 million from last week’s 482.86 million units worth RM102.75 million.
Volume on the ACE Market jumped to 475.05 million shares valued at RM45.98 million from 248.34 million shares valued at RM47.17 million previously.
Consumer products and services accounted for 175.07 million shares traded on the Main Market, industrial products and services (162.69 million), construction (94.99 million), technology (81.74 million), SPAC (nil), financial services (36.71 million), property (108.61 million), plantations (12.47 million), REITs (7.99 million), closed/fund (3,800), energy (446.50 million), healthcare (24.57 million), telecommunications and media (113.75 million), transportation and logistics (22.85 million), and utilities (19.97 million).
The physical price of gold as at 9.30am stood at RM200.32 per gramme, up 45 sen from RM199.87 at 5.00pm last friday. — Bernama
