Malaysian Stock Market Lower Ahead Of 2018 GDP Announcement

KUALA LUMPUR, Feb 13 (Bernama) -- Share prices on the Malaysian stock market (Bursa Malaysia) closed lower Wednesday, in cautious trading, ahead of the release of the country’s 2018 and fourth quarter gross domestic product (GDP) data by Bank Negara Malaysia tomorrow, dealers said. At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,685.3, down 2.11 points from Tuesday’s close of 1,687.41. The index opened 0.32 of-a-point firmer at 1,687.73 and hovered between 1,683.61 and 1,688.46 throughout the day. A dealer said Malaysia’s economy was expected to grow faster in the fourth quarter helped by exports and private consumption but the lingering uncertainty over the ongoing trade war between the United States amd China continued to weigh on market sentiment. “Malaysia being the world's second largest palm oil exporter is expected to be adversely affected by global trade headwinds,” he added. Among heavyweights, Maybank shed one sen to RM9.55 while TNB and CIMB lost four sen each to RM13.06 and RM5.78, respectively. Petronas Chemicals perked seven sen to RM8.48 while Public Bank was flat at RM24.96. Of actives, Barakah climbed half-a-sen to 14 sen, Dagang edged-up five sen to 32.5 sen and Prestariang gained three sen to 45 sen. Bumi Armada and Tatt Giap were flat at 22.5 sen and 10 sen, respectively. Market breadth was negative with 468 losers and 340 gainers while 393 counters remained unchanged, 652 untraded and 23 others were suspended. Total volume declined to 2.63 billion units valued at RM1.87 billion from Tuesday’s 2.69 billion units worth RM1.95 billion. -- BERNAMA