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Malaysian shares end week lower as China data dampens sentiment

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Malaysian shares ended lower this week as China’s disappointing trade data hurt risk appetite, even as buying in select blue chips prevented steeper losses on the benchmark index.

The nation’s benchmark FTSE Bursa Malaysia KLCI fell 0.4% to 1,658.97 points Friday, its lowest since Sept. 30. The index shed 0.4% for the week after trading in a narrow 1,658 to 1,672 range, as investors awaited further cues from the July-September corporate results season.

Telecommunication stocks, IHH Healthcare and CIMB Group Holdings led losses on the KLCI this week, while advance Genting Malaysia, Tenaga Nasional and Petronas Chemicals Group limited the losses

The ringgit ended 0.3% higher at 4.198 against the dollar Friday, but fell 1% for the week weighed down by increasing expectations of a Federal Reserve rate increase this year.

Paul

The author Paul