KLCI clings on to 1,600 level, Petronas Chemical weighs

TheStar Thu, May 23, 2019 06:01pm - 4 years View Original


KUALA LUMPUR: Blue chips closed lower on Thursday amid a weakening broader market, tracking the key Asian and European bourses as worries about the costs of the rising US-China trade war weighed on investor sentiment.

At 5pm, the KLCI closed down 1.87 points or 0.12% to 1,601.87. Turnover was 2.38 billion shares valued at RM2.11bil. Decliners beat advancers nearly four to one, with 718 losers to 188 gainers and 314 counters unchanged.

US equity futures and European stocks tracked a slide in Asian shares  as trade tensions between the world’s two largest economies showed little sign of easing. Treasuries climbed with the dollar, Bloomberg reported.

Petronas Chemical fell 19 sen to RM8.63 and erased 2.65 points from the KLCI while Petronas Gas lost 22 sen to RM16.30 but Petronas Dagangan climbed 12 sen to RM24.70. Dialog added two sen to RM3.38.

Dayang was battered, falling 24 sen to 89 sen – the lowest since Feb 22 after announcing its results.

Barakah fell two sen to  five sen, Sapura Energy and Bumi Armada one sen each to 30 sen and 18 sen.

Chip maker MPI was the top loser, sliding 37 sen to RM8.73 on concerns about the fallout from the US curbs on Huawei and weakening chip demand due to the trade war.

Pos Malaysia skidded 22 sen to a multi-year low of RM1.36 after posting losses in the financial year ended March 31, 2019. 
 
   
US equity futures and European stocks tracked a slide in Asian shares  as trade tensions between the world’s two largest economies showed little sign of easing. Treasuries climbed with the dollar, Bloomberg reported.

Petronas Chemical fell 19 sen to RM8.63 and erased 2.65 points from the KLCI while Petronas Gas lost 22 sen to RM16.30 but Petronas Dagangan climbed 12 sen to RM24.70. Dialog added two sen to RM3.38.

Dayang was battered, falling 24 sen to 89 sen – the lowest since Feb 22 after announcing its results.

Barakah fell two sen to  five sen, Sapura Energy and Bumi Armada one sen each to 30 sen and 18 sen.

Chip maker MPI was the top loser, sliding 37 sen to RM8.73 on concerns about the fallout from the US curbs on Huawei and weakening chip demand due to the trade war.

Pos Malaysia skidded 22 sen to a multi-year low of RM1.36 after posting losses in the financial year ended March 31, 2019. 
 

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