Business News

Published: Friday March 29, 2013 MYT 12:00:00 AM
Updated: Wednesday April 24, 2013 MYT 2:11:46 PM

Profit taking sees KLCI snaps 4-day winning streak

KUALA LUMPUR: Malaysia's blue chips fell on Friday as investors locked in gains after four straight days of gains which saw the KLCI rise more than 47 points but the selling pressure was confined to several stocks.

At midday, the FBM KLCI was down 3.32 points or 0.2% to 1,670.72. Turnover was 298.52 million shares valued at RM419.52mil. There were 238 gainers, 305 losers and 276 counters unchanged.

Among the key regional markets which were opened, Japan's Nikkei 225 rose 0.55% to 12,403.86; Shanghai's Composite Index fell 0.14% to 2,233.23; Taiwan's Taiex added 0.61% to 7,915.39 and South Korea's Kospi gained0.86% to 2,010.76.

At Bursa Malaysia, Petronas Dagangan fell 56 sen to RM22.88 while Petronas Chemicals and Petronas Gas shed six sen each to RM6.39 and RM18.94. Cumulatively, they erased 1.39 points off the KLCI.

UMW lost 18 sen to RM13.22, Genting Bhd five sen to RM9.99 and Genting Malaysia four sen to RM3.63.

Among the banks and finance-related stocks, RHB Cap fell 10 sen to RM8.53 and HLFG four sen to RM14.90 but Public Bank rose four sen to RM16.28 and HL Bank added twp sen to RM14.46. BIBM fell 12 sen to RM3.31.

MAS was the second most active counter with 16.59 million shares done, adding three sen to 77.5 sen.

Among the consumer stocks, Apollo rose to the highest since 1997 on its stronger earnings. It surged 27 sen to RM3.82. F&N rose 16 sen to RM18.58. Crude palm oil for third-month futures fell RM16 to RM2,396. KL Kepong rose six sen to RM20.80 and PPB Group four sen to RM12.66 but TAHPS lost 16 sen to RM5.04.

The ringgit was firmer against the US dollar at 3.0870 compared with 3.0965 the previous day.

US light crude oil added 65 cents to US$97.23 and Brent 33 cents higher at US$110.02.

Spot gold fell 32 cents to US$1,596.65.

Tags / Keywords: News, Business, Malaysia's blue chips, profit taking, KLCI, Business

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