KL shares remain in the red at mid-afternoon

Bursa Malaysia. (Bernama pic)

KUALA LUMPUR: Shares on Bursa Malaysia remained in the red at mid-afternoon as lingering concerns over the US-China trade dispute hampered buying demand on regional peers.

At 3.03pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 15.48 points weaker at 1,672.79 from yesterday’s close of 1,688.27. It opened 4.92 points lower at 1,683.35.

On the broader market, losers trumped gainers 588 to 193, with 275 counters unchanged, 813 untraded and 23 others suspended.

Volume stood at 1.33 billion units valued at RM1.02 billion.

A dealer said regional stocks came under renewed pressure following Wall Street’s steep sell-off previously, with the Singapore’s Straits Times Index down 1.55% to 3,107.13, the Jakarta Composite Index sliding 0.53% at 6,100.52 and Hong Kong’s Hang Seng Index falling 2.96% to 26,026.65.

Meanwhile, among heavyweights on Bursa Malaysia, Maybank was flat at RM9.42, Public Bank fell 10 sen to RM24.78, Tenaga lost 40 sen to RM13.52 and Petronas Chemicals rose five sen to RM9.26.

The FBM Emas Shariah Index declined 142.09 points to 11,543.79, the FBM 70 slipped 155.44 points to 13,410.6 and the FBM Ace Index was 59.45 points weaker at 4,684.37.

The FBM Emas Index depreciated 112.57 points to 11,541.14 and the FBMT 100 Index declined 111.88 points to 11,417.06.

Sector-wise, the Plantation Index was down 90.48 points to 6,814.84, the Industrial Products and Services Index was 0.74 of-a-point lower at 169.13, and the Financial Services Index decreased 98.97 points to 17,358.84.