Kuala Lumpur: MALAYSIA share prices opened lower on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 2.57 points to 1,797.60.
The trading volume was 96.63 million lots worth RM38.75 million and there were 311 advancers versus 337 decliners and 371 counters unchanged.
The biggest fall was seen in Axiata in the morning session, losing 16 sen to RM4.61 and Genting Malaysia shed four sen o RM5.02 while TNB dropped four sen to RM15.48. There was no change was seen in Banks although CIMB slid two sen to RM6.01. The stock had fallen as much as four sen earlier in the trading session.
Petronas Dangangan is the top performer on the index by rising 20 sen to RM26.56 and Petron Malaysia BHD also performs well by adding 18 sen to RM8.38.
Pinehill Pacific, the share price had jumped nearly four-fold over the previous two sessions on news of the sale of its Perak assets for RM414mil finally gave up some gains. At midday, it had slipped 8.5 sen to 45.5 sen.
Tuesday’s morning session given the negative sentiment surrounding the escalation of the US-China tariffs war and prospects for global growth.
The regional markets were mixed, with declines led by Chinese markets on their first day of trading after a holiday-extended weekend. Despite the bearish mood, the local market held relatively steady as stocks on the exchange were quite evenly split between gainers and losers.
Oil prices were within reach of four-year highs hit in the previous session, as US appear sanctions against Iran and unwillingness by the Organization of the Petroleum Exporting Countries (OPEC) to raise output supported the market.
WTI crude grew 15 cents to US$72.23 a barrel while Brent crude added 23 cents to US$81.43 a barrel.
The ringgit slipped 0.15% against the greenback at 4.1350. It was marginally higher against the pound sterling at 5.4138 and Singapore at 3.0265.