Bursa, Asian markets slide on weak US factory data
Published on 02 Oct 2019. | Source: thestar.com.my
KUALA LUMPUR:Bursa Malaysia and Asian markets ended in the red on Wednesday, in line with global markets on fears of a global slowdown following weakenesses in US manufacturing output.
At 5pm, the FBM KLCI fell to a fresh four-year low of 1,574.90, down 14.54 points or 0.91%. of the 30 stocks in the KLCI, two counters ended unchanged while Genting was the only gainer with a mere one sen, refelcting the bearish market sentiment.
Turnover was 1.85 billion shares valued at RM1.44bil. The broader market was weaker with decliners beating advancers two to one or 516 losers to 265 gainers and 416 counters were uchanged.
Reuters reported Southeast Asian stock markets fell, tracking broader global markets as weak US manufacturing data stoked fears of a global economic slowdown and reignite concern over the impact of the US-China trade war.
Singapore's STI and Jakarta Composite Index both fell by 1.35% while Thailand's SET lost 0.64%. Japan's Nikkei 225 lost 0.49%, Hong Kong's Hang Seng Index 0.19% and South Korea's Kospi tumbled 1.95%.
Public Bank continued to come under some selling pressure, falling 30 sen to RM19.70 and erased 2.05 points, Hong Leong Bank lost 26 sen to RM16.14, Maybank shed six sen to RM8.53, AmBank eight sen lower at RM4.06, RHB Bank seven sen to RM5.64 while CIMB eased three sen to RM5.02.
Crude palm oil for third month delivery fell RM29 to RM2,138 per tonne. KL Kepong retreated 26 sen to RM22.92, IOI Corp 14 sen to RM4.29, Sime Plantation eight sen to RM4.75 while PPB Group shed four sen to RM18.10.
As for telcos, Maxis and Digi lost eight sen each to RM5.47 and RM4.70 while Axiata was down three sen to RM4.29.
US light crude oil rose 19 cents to US$53.81 but Brent shed seven sen to US$58.82. Petronas Chemicals lost five sen to RM7.46, Petronas Dagangan eight sen to RM23.56 and Petronas Gas four sen to RM16.46. Dialog was unchanged at RM3.40.
Consumers ended mostly lower with F&N down 78 sen to RM34 and the top loser, Dutch Lady 50 sen to RM59.50, BAT 30 sen to RM18.60, Nestle 20 sen to RM145.20 and Carlsberg 18 sen lower at RM26.10.
Vitrox was the top gainer, up 25 sen to RM8 with over one million shares done while Unisem added 18 sen to RM2.11 and Dufu 11 sen to RM2.87.
The ringgit weakened against the US dollar, down 0.04% to 4.1945 but it rose 0.50% against the pound sterling to 5.1285. It slipped 0.07% to the euro at 4.5732 and shed 0.02% to the Sigaooire unit at 3.0263.
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