KUALA LUMPUR (March 7): FBM KLCI component stocks Press Metal Aluminium Holdings Bhd, YTL Corp Bhd and Sime Darby Plantation Bhd led the decline of local benchmark index this morning, following fears of a trade war after the resignation of an economist at the White House.
As of 10:45am, the FBM KLCI declined by 9.09 points or 0.49% to 1,839.28.
Shares of Press Metal fell 11 sen or 2.12% to RM5.07, after 3.35 millions shares traded so far.
Press Metal appeared to be rebounding yesterday after two days of declines, hitting its intraday high of RM5.31. It was reported yesterday that the company said it would largely be unaffected by the impending US steel import tariffs.
Press Metal closed its counters as one of Bursa Malaysia's top gainers yesterday.
This morning, YTL shares dipped 1 sen or 0.71% at RM1.40, after 725,300 shares exchanged hands, whereas Sime Darby Plantation went down 9 sen or 1.63% to RM5.42, after 384,300 shares were traded.