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.
Kuala Lumpur: Bursa Malaysia share prices opened lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 1.41 points to 1,809.23 at 9 am. The Investors on Bursa Malaysia diverted to profit-taking in this Monday morning session. The trading volume was 31.32 million lots worth RM12.08 million and there were 216 gainers versus 465 decliners and 300 counters unchanged.
The Bilateral trade talk programme between China and the US was canceled due to lack of positive leads to sustain the previous week’s rally.
Key markets Japan, China, and South Korea were closed on Monday due to Autumn festivals and holidays. Hong Kong’s Hang Seng index, which remained open, shed 1.25%.
The Counters on the 30-stock index were mostly lower, led by Tenaga Nasional shedding 12 sen to RM15.56 and among other leading decliners, Sime Darby Plantation dropped nine sen to RM5.27, MAxis fell seven sen to RM5.81 and Digi shed five sen to RM4.79.
The IOI gaining from 2 sen to RM4.50 in rose stocks. Petronas Gas adding 12 sen to RM19.12 and Telekom Malaysia adding one sen to RM3.22.
Dutch Lady Milk Industry BHD added RM1.30 to RM65.40, VItrox rose eight sen to RM7.78 and BAT gained eight sen to RM33.24 at the border market and United Plantation rose 38 sen to RM27.50 on the deal of its accession of plantation land from Pinehill Pacific, which jumped 12 sen to 56 sen.
The ringgit was little changed against the US dollar at 4.1337. It rose 0.9% against the pound sterling at 5.4067 and 0.1% against the Singapore dollar at 3.0256.
The oil market jumped as Opec and Russia decided against lower oil prices ahead of US sanctions on Iran. WTI crude rose 81 cents to US$71.59 a barrel while Brent crude gained US$1.01 to US$79.81 a barrel.
The faintly higher move is going to be seen in Malaysia share prices on this Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 3.02 points, or 0.17 percent to 1784.34. Volume was 285 million lots worth RM116.9 million. Gainers outnumbered losers 240 to 126.