Bursa Malaysia opens in red, tracking weaker Wall Street performance

KUALA LUMPUR, May 19 ―Bursa Malaysia opened the morning session in the red today, tracking the decline on overnight Wall Street performance, said an analyst.

The Dow Jones Industrial Average lost 1,164 points whilst the tech-heavy Nasdaq Composite declined by 566 points despite the United States 10-year yield eased slightly to below the 2.9 per cent level.“Nonetheless, reflecting the bloodbath on US equities overnight, we believe regional markets would see major headwinds today,” he told Bernama.

“Meanwhile, the Malaysian Government Securities 10-year yield has risen to a multi-year high of above 4.5 per cent, indicating some selling activities. Among heavyweights, Maybank was flat at RM8.99, while Public Bank fell five sen to RM4.56, IHH Healthcare eased three sen to RM6.43.Of the actives, Sapura Energy erased half-a-sen to seven sen, Serba Dinamik deducted two sen to 14 sen, Dagang Nexchange decreased three sen to RM1.02, while Techna-X inched up half-a-sen to 5.5 sen and Country Heights added 1.5 sen to 85 sen.

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