KLSE News: KLCI DOWN 0.95%, DROPS BELOW 1800 LEVEL

KLCI,MARKETS ,BURSA MALAYSIA,

KUALA LUMPUR: The FBM KLCI INDEX down below 1,800 points as foreign selling pressure on top valued blue chips companies still going on, continuing its losing streak for the 5th straight day.

At 17:00 , the 30-stock index closed 17.26 points, or 0.95% lower at 1,796.72. The index opened 7.42 points higher at 1,805.34 this morning.

The total number of decliners were more as compared to advances by the wide margin, with 703 losers to 270 gainers and 362 counters unchanged. Volume stood at to 2.9 billion units, valued at RM2.91bil.

KLCI-component stocks were overwhelmingly in the negative, with 22 of the stocks fell. The KLCI is 5.2% below its 52-week high of 1,896.03 reached on April 20.

Brokers said the performance of local market was in line with its regional peers. They added that the outlook for shares remained volatile as trade war fear continue on investors

Meanwhile, Bank Negara Malaysia has maintained the overnight policy rate at 3.25%. The central bank said the current level of the OPR is consistent with the intended policy stance. The ringgit fall 0.2% to 4.1475 against the US dollar.

On Bursa Malaysia, Stocks down Nestle fell 90 sen to RM146.50, British American Tobacco shed 62 sen to RM32.58 and Petronas Dagangan closed 32 sen to RM26.68.

Among the top counters, CIMB down 23 sen to RM5.87, Axiata fell 17 sen to RM4.48, Maybank declined 12 sen to RM9.87, Genting fell 17 sen to RM8.22 and Petronas Chemicals closed six sen lower at RM9.43.

Elsewhere in the region, Hong Kong stocks post the biggest downfall in 11 weeks on growth amid worries about China’s economy and the trade war. The Hang Seng index fell 2.6% to 27,243.85, while the China Enterprises Index lost 2.3% to 10,645.70 points.
Japan’s Nikkei 225 down 0.51% to 22,581, and China’s CSI300 index fell 2% to 3,298.14.

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