FBM KLCI falls on thin trading
KUALA LUMPUR: The domestic stock benchmark gave way to selling pressure in early trade as trade anxieties and lacklustre earnings results weighed on market sentiment.
At 12.30pm, the FBM KLCI was down 7.07 points to 1,527.23, weighed down by financial services counters.
Maybank lost four sen to RM9.88, Public Bank dropped five sen to RM4.36 and CIMB shed five sen to RM6.91.
Meanwhile, Maxis fell nine sne to RM3.63 while Sunway slid five sen to RM4.65.
The declining issues on the market outpaced advancing by a ratio of 1.72-to-1, indicating braod-based selling.
Volume was muted with 1.52 billion shares changing hands for RM755.12mil.
The thin trading volume was in line with a US holiday that Wall Street markets closed overnight.
Anxieties are high following US President Donald Trump's threat to slap a 50% tariff on EU imports, although he has since pushed back the deadline of the imposition to July 9.
In Japan, the Nikkei dropped 0.18% to 23,241. China's composite index slid 0.33% to 3,335 and Hong Kong's Hang Seng fell 0.18% to 23,241.
Singapore's Straits Times rose 0.13% to 3,880. Trading ideas: Public Bank, U Mobile, Kerjaya, Samaiden, Titijaya, PeterLabs, Shin Yang, NexG, Globaltec, Maybank, AMMB, PetGas, Hume Cement
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