Kuala Lumpur: Wide based Pull back on Bursa Malaysia stock prices, opened lower on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 3.55 points to 1,786.56. The trading volume was 84.1 million lots worth RM 32.8 million. Decliners far outnumbered gainers, 581 to 175, and 314 counters were unchanged.
The Malaysian August trade data compounded the negative view which showed the exports contracting 0.3% from a year earlier, sharply below analyst forecasts.
The Telcos leed the decline the day. The other KLSE loser stock is Axiata weighed the market, sliding 10 sen to RM4.40 while Maxis dropped give sen to RM5.70 and Digi lost three sen to RM4.72. IHH Healthcare slid eight sen to RM5.11, Tenaga Nasional dropped six sen to RM15.44 and Petronas Gas fell 12 sen to RM18.86.
In KLSE gainer stocks, only two counters on the KLCI rose in the morning session – Petronas Chemicals rose one sen to RM9.41 and KLCC Property REIT added one sen to RM7.51.
Asia opened weeker with Japan’s Nikkei, South Korea’s Kospi. Hong Kong’s Hang Seng was down 0.4% each at 12.30 pm Malaysian time and Nasdaq index opens down today with share price 7,879.51, the previous close was 8,025.08. China’s markets remained closed for its week-long national holidays.
WTI crude rose 46 cents to US$74.79 a barrel while Brent crude gained 36 cents to US$84.94 a barrel. Oil prices bounce back on Friday, partially trace some losses from the previous session after major oil producers Saudi Arabia and Russia said they would raise output to make up for some of the expected supply disruptions from Iran.
The RINGGIT held dense against the US dollar at 4.1462. It rose 0.1% against the Singapore dollar at 3.0007 and slipped 0.35% against the Pound sterling at 5.3945.