KUALA LUMPUR: Stock trading was muted on Wednesday as traders awaited the central bank’s policy decision later this afternoon while tensions remained heightened over the US’s latest tariff moves.
“Following MITI’s announcement of continued engagement with the US on tariff
issues, we believe the market may trade on a mixed note pending further clarity,” said Malacca Securities in its morning note.
Bursa Malaysia made a sluggish start with the benchmark index sliding 0.86 points to 1,529, tracking the indecisive price movement on Wall Street overnight.
US stock prices were slightly lower and the major indices closed mixed as trader awaited from clarity over US President Donald Trump’s tariffs plan.
Meanwhile on Bursa Malaysia, Nestle fell 64 sen to RM78.12, Tenaga Nasional slid four sen to RM13.82 and PETRONAS Chemicals dropped four sen to RM3.35.
The most actively traded stock was healthcare provider PMCK, which made its debut on the ACE Market today.
The share opened just 0.5 sen higher at 22.5 sen. Yesterday, Hong Leong Investment Bank said in a report it believed the share was fairly valued at its initial public offering price of 22 sen.
Other actively traded stocks included NexG up 0.5 sen to 44 sen and Pharmaniaga
gaining one sen to 15.5 sen.