Bursa dips as trade war, US shutdown weigh on sentiment
Malaysian stocks opened with modest gains on Wednesday before declining as traders weighed stalled American trade negotiations and the continuing federal shutdown. The benchmark index fell 0.30 points to 1,616.53 at 9:10 am after initially rising 0.73 points. Market analysts said upcoming regional summits and budget developments could support prices despite mixed signals from Wall Street.
Banking stocks showed varied performance as Maybank added one sen while Public Bank and CIMB slipped. Nestle climbed 1.10 ringgit to 110.60 ringgit among the top gainers. Decliners outnumbered advancing stocks 185 to 146 as investors processed corporate earnings reports and economic data.
