Thursday 25 Apr 2024
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KUALA LUMPUR (March 15): The FBM KLCI dipped 0.25% early today as resurgent  trade war fears rattled regional markets.

At 9.05am, the FBM KLCI fell 4.59 points to 1,852.47.

The losers included Nestle (M) Bhd, Ajinomoto (M) Bhd, Petronas Gas Bhd, Hengyuan Refining Company Bhd, Heineken Malaysia Bhd, Hartalega Holdings Bhd, Carlsberg Brewery Malaysia Bhd, JAKS Resources Bhd, Hong Leong Financial Group Bhd and Genting Bhd.

Stock markets sagged broadly on Thursday while government bonds attracted safe-haven demand amid mounting investor concerns that growing trade tensions would hurt the global economy, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.05 percent, it said.

JF Apex Securities Research in a market preview said US markets tumbled overnight as fears of a trade war escalated after President Trump plans US$60b tariffs on Chinese products.

It said that earlier, European stocks also declined following concerns of a US-China trade war.

“On the local bourse, the benchmark FBM KLCI dropped 6.97 points to 1857.06 points.

“Following the bearish performance in the US and Europe, the FBM KLCI is expected to extend its selldown towards the 1840-point level,” it said.

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