The FBM KLCI ended the week on a sluggish note , weighed down by the shaky close in Wall Street overnight. Market sentiment was negative as decliners were more than double the advancers, while 976 stocks remained unchanged(t.me/reseachbursa)
Equities continued to move down in afternoon trade after opening lower with technology shares under pressure after Taiwan Semiconductor Co Ltd , Apple’s main chip supplier tumbled 7% after it cut its full year revenue target.(t.me/BursasgxSignal)
Also the reports that the U.S. Treasury Department is looking into feasibility of an emergency law to restrict Chinese investments in sensitive technologies in the U.S. were accountable for the downside movement of Chinese stocks.Reports regarding the trade relations between the U.S. and China spread some attention in the afternoon as China’s ambassador to the United States said China will encounter if the U.S. insists on inducing a trade war.(t.me/klcistocks)