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Bursa shares continue downtrend to close lower

New Straits Times logo New Straits Times 6 days ago Bernama
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KUALA LUMPUR: Share prices on Bursa Malaysia continued their downtrend to close lower, tracking Asian exchanges, a dealer said.

He said among the reasons cited for the bearish sentiment was the arrest of the global chief financial officer of Chinese technology giant Huawei in relation to alleged violations of United States sanctions.

The arrest could drive a wedge between China and the United States just days after President Donald Trump and President Xi Jinping agreed to a temporary truce in their trade war to give the two sides more time for negotiations.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood 4.93 points easier at 1,683.34 after opening 4.92 points weaker at 1,683.35.

The index moved within a narrow trange of between 1,683.35 and 1,686.49 throughout the day.

On the broader market, losers trounced gainers 588 to 259, while 328 counters were unchanged, 694 untraded and 23 others were suspended.

Volume widened to 1.96 billion units, worth RM1.86 billion, against Thursday’s 1.75 billion units valued at RM1.52 billion.

© New Straits Times Press (M) Bhd

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