KLCI weighed down by Malaysia election cue, US-North Korea tension

-A +A

KUALA LUMPUR (Aug 10): The FBM KLCI closed 0.17 point lower at 1,777.77 points as the US-North Korea geopolitical tension and speculation on Malaysia's 14th General Election's (GE14) timing turned investors cautious.

The cautious sentiment was apparent across Bursa Malaysia where decliners significantly outpaced gainers at 585 to 248 respectively. The bourse saw a volume of 1.35 billion shares valued at RM1.5 billion.

“Investors could also be waiting for the release of upcoming financial results before making decisions,” Hong Leong Investment Bank Bhd retail research head Loui Low said.

He said the trade volume across Bursa Malaysia at 1.35 billion shares today was "quite thin" as Malaysia's GE14 theme took centre stage in local markets. The nation held its GE13 on May 5, 2013.

Today, cautious sentiment was reflected across Asia as stocks fell on the US-North Korea geopolitical tension. Japan's Nikkei 225 dropped 0.05%, South Korea's Kospi fell 0.38% while Hong Kong’s Hang Seng was down 1.13%.

Reuters reported that Asian stocks turned lower on Thursday as investors fretted about the simmering tensions between the US and North Korea, sending Seoul shares skidding to two-month lows even as the previous day's rush into safe-haven assets appeared to slow.