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KUALA LUMPUR (May 4): The FBM KLCI started the month on a poorer note and fell 2.09% early in the trade as weak April domestic manufacturing data coupled with US President Donald’s tariff openings Trump against China dragged world markets.
Malaysia’s manufacturing sector came under heavy pressure during April as measures put in place to address the spread of the 2019 coronavirus disease (COVID-19) caused companies to suspend production or operate well below full capacity.
The title of the IHS Markit Malaysia Manufacturing Purchasing Managers ‘Managers’ PMI index fell to 31.3 in April from 48.4 in March.
At 9.03 a.m., the FBM KLCI lost 2.09% or 29.41 points at 1,378.37.
The main losers were Petronas Dagangan, Kuala Lumpur Kepong Bhd, Petronas Gas Bhd, PPB Group Bhd, Hong Leong Bank Bhd, Public Bank Bhd, Sime Darby Plantations Bhd, MISC Bhd, Malayan Banking Bhd, Hap Seng Consolidated Bhd.
Reuters He said the dollar rose, oil fell and the stock markets were on the verge of falling on Monday due to mounting tensions between the United States and China over the coronavirus, and growing concern over the chasm between asset prices and the Gloomy economic reality, they turned investors cautious.
In light trade, with China and Japan on vacation, US equity futures. USA US crude fell 1.6%. USA It fell more than $ 1 a barrel, or 6%, and Australia’s ASX 200 benchmark futures pointed to a negative open, he said.
JF Apex Securities Research said US markets fell on Friday after President Trump threatened to impose new tariffs on China for the coronavirus.
He said that, meanwhile, major European exchanges were closed for the Labor Day holiday, but the UK’s shares declined due to the latest conflict between the United States and China over the coronavirus.
“In the local market, the FBM KLCI increased 27.48 points to 1407.78 points.
“Following the recent positive momentum, the FBM KLCI could take a breather and float below the resistance level of 1415 points,” he said.
