US-China tensions weigh on Bursa as KLCI faces selling pressure

TheStar Fri, May 29, 2020 09:35am - 3 years View Original


KUALA LUMPUR: Blue chips fell in early Friday trade as US-China tensions saw investors backing off and the FBM KLCI faced selling pressure.

At 9.23am, the KLCI was down 6.86 points or 0.47% to 1,450.64. Turnover was one billion shares valued at RM609.45mil. There were 253 gainers, 308 losers and 264 counters unchanged.

Bloomberg reported the S&P 500 futures fell 0.7% as of 10:05 a.m. in Tokyo. The S&P 500 fell 0.2% Thursday. Japan’s Topix index fell 0.6%, South Korea’s Kospi declined 0.5% and Australia’s S&P/ASX 200 Index slid 1.2%.

Rakuten Trade said Wall Street saw bouts of late selling on fears of Trump’s move against social media companies plus the worsening US-China ties.

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