Blue chips slide nearly 1.5% on Wall St skid

KUALA LUMPUR: Blue chips fell in early Tuesday trade, with the FBM KLCI falling nearly 1.5%, in line with the jittery key Asian markets and the sharp overnight fall on Wall Street as US-China trade tensions escalate.

At 9.02am, the KLCI was down 23.65 points or 1.48% — the biggest decline in a year – to 1,577.44. Turnover was 120.78 million shares valued at RM47.56mil. Decliners hammered advancers 328 to 34 and 119 counters unchanged.

Reuters reported shares in Asia extended losses following sharp falls on Wall Street overnight as the trade war between China and the US escalated.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.4%, touching its lowest level since Feb. 15. Australian shares were down 1.2% while Japan’s Nikkei stock index slid 1.9%.

At Bursa, Petronas Gas fell 54 sen to RM16.34, KL Kepong 46 sen to RM23.98, Tenaga 36 senntp RM11.38, PPB 30 sen to RM18.32.

Genting Plantations was 28 sen lower at RM10.02, Hong Leong Bank 26 sen to RM19.10, Petronas Dagangan 24 sen to RM24.06 and MISC 19 sen to RM6.49.

F&N was the top loser, down 92 sen to RM32.46 and Nestle 60 sen to RM143.10 but BAT added 18 sen to RM33.94.

Source: TheStar