Bursa slips as Trump-Xi meeting doubts spark sell-off
Malaysian stocks reversed earlier gains on Wednesday as investors locked in profits amid regional market weakness. The benchmark index fell 14.14 points to close at 1,602.69 after semiconductor concerns and political uncertainty dampened sentiment. Technology shares declined following a warning from Dutch chipmaker ASML that rippled through global markets, while doubts about the Trump-Xi meeting added pressure.
Banking stocks led losses as CIMB dropped 15 sen and Public Bank fell six sen. Nestle declined 1.20 ringgit while United Plantations gained 76 sen among top movers. Trading volume reached 3.41 billion shares worth 2.34 billion ringgit as 699 stocks declined against 355 gainers.
Analysts expect the index to remain between 1,600 and 1,630 points through the week as buyers may emerge at support levels. Financial services shares tumbled 185.25 points while plantation stocks advanced 5.75 points. The broader market showed weakness across most sectors as caution returned following recent advances.
