Bursa Malaysia opened lower after a volatile session on Wall Street. The FTSE Bursa Malaysia KLCI fell 5.42 points to 1,670.41 from close of 1,675.83.
The index opened 3.25 points weaker at 1,672.58.
Market breadth was negative, as decliners beat gainers 174 to 54, while 129 counters were unchanged. Turnover stood at 111.62 million shares worth RM39.54 million.
Among heavyweights, Maybank and Public Bank fell to RM9.34 and RM24.58 respectively, CIMB was flat at RM5.65
Sector-wise, the Finance Index inched down 12.84 points to 17,205.04, the Plantation Index eased 42.24 points to 6,813.03 and the Industrial Products and Services Index slipped 0.24 of a point to 165.50.
KLSE Stock Loser
Stock in News
Damansara Realty Bhd shares up as much as 19.5 sen in morning trade to 42.5 sen, with 13.38 million shares traded. Damansara Realty has three major business segments: property and land development, integrated facilities management as well as project management and consultancy services.
UMW Holdings Bhd has announced another three subsidiaries for winding up under the unlisted oil and gas segment.
United Malacca Berhad: UMCCA has proposed to dispose of plantation lands measuring 1,021 Ha for a total cash consideration of RM175m. The sales consideration translates into a price/planted Ha of c.RM171, 533.
Wall Street plunged lower after slowing U.S. factory activity; apple’s slower future sales forecast fears of a global economic slowdown.
Apple’s revenue shortfall guidance hits other technology stocks also. Which pulled all three major U.S. stock indexes down more than 2 percent, with the Nasdaq posting a 3 percent loss. S&P Technology companies saw its biggest one-day percentage drop since August 2011.
Major automakers reported weak U.S. new car sales in December, with Ford Motor Co and General Motors Co reporting sales falling by 8.8 percent and 2.7 percent,
The Dow Jones Industrial Average fell 660.02 points, or 2.83 percent, to 22,686.22, the S&P 500 lost 62.14 points, or 2.48 percent, to 2,447.89 and the Nasdaq Composite dropped 202.43 points, or 3.04 percent, to 6,463.50.
Forex Signals: The ringgit was higher against the US dollar as the US dollar falls after weak US economic data.
The ringgit traded at 4.1380/1500 versus the US dollar from 4.1410/1460 at previous closing.
Gold Price: Gold trade with positive near $1300 mark after weak US manufacturing data Gold trade at $1297.
Gold Trading Range $1288-$1302