Bursa only market in positive zone in Asia

Malaysia

KUALA LUMPUR: Malaysia’s stock market was the only bourse in the positive zone at midday on Tuesday but the FBM KLCI was off its early high due to the profit taking by some funds and retailers.

At midday, the KLCI was up 9.99 points or 0.62% to 1,622.73 but off the initial surge of 1,655.47. 

Turnover was 1.028 billion shares valued at RM1.165bil. There were 391 gainers, 273 losers and 270 counters unchanged.

Chinese stocks gyrated wildly on Tuesday, with main indexes tumbling 5 percent at one point as weak manufacturing data laid bare the daunting challenge faced by Beijing as it races to revive a stumbling economy, Reuters reported.

Activity in China's manufacturing sector contracted at its fastest pace in three years in August, an official survey showed on Tuesday, reinforcing fears of a sharper slowdown in the world's second-largest economy. A separate private survey on manufacturing was equally downbeat.

At Bursa Malaysia, the ringgit also strengthened to the US dollar at 4.1477 from 4.1925 previously, while it was quoted at 6.3840 to the pound sterling compared with the 6.4667 previously. It also firmed up against the Singapore dollar to 2.9482 from 2.9675.

US light crude oil gave up some of the gains to shed US$1.50 to US$47.70 while Brent lost US$1.51 to US$52.64.

Petronas was the top gainer, up 48 sen to RM21.64, Petronas Gas rose 30 sen to RM21.62 but Petronas Chemicals shed on esen to RM6.06. SapuraKencana Petroleum added 12 sen to RM1.84.  Sumatec and KNM edged up 0.5 sen to 14 sen and 48.5 sen.

Among the banks, Public Bank gained 12 sen to RM18.18, RHB Cap added four sen to RM6.52, Maybank and CIMB added two sen each to RM8.78 and RM5.02 while AmBank shed one sen to RM4.69.

Genting Bhd added 20 sen to RM7.05 and Genting Malaysia eight sen to RM4.04.

MISC rose 19 sen to RM8.29, IHH Halthcare 15 sen to RM6 and Tenaga 10 sen to RM11.28.

Crude palm oil for third month delivery rose RM23 to US$2,014. Sime Darby gained five sen to RM7.50. KL Kepong two sen to RM20.84 but PPB Group shed 18 sen to RM15.16.