IOI Corp, Maybank wipe out nearly 4 pts from KLCI

KUALA LUMPUR: Blue chips closed lower on Friday, with IOI Corp, Maybank and Genting Bhd among the main drags on the KLCI but Public Bank bounced back after the recent selldown by funds.

At 5pm, the KLCI was down 5.13 points or 0.31% to 1,628.80. Turnover was 1.33 billion shares valued at RM1.69bil. There were 397 gainers to 364 losers and 322 counters unchanged.

IOI Corp erased 2.22 points from the KLCI while Maybank wiped 1.64 points and Genting Bhd another 1.03 points.

Reuters reported Southeast Asian stock markets fell on Friday as investors continued dumping emerging market assets amid grim growth outlook ahead of US non-farm payrolls data due later in the day.

At Bursa Malaysia, plantations were among the top losers, led by Far East which fell 40 sen to RM7.20. The main impact was from heavyweight IOI Corp which lost 20 sen to RM4.20 on worries about its exposure to foreign exchange losses.

However, KL Kepong rose 22 sen to RM22.50, TAHPS added 20 sen to RM7 and United Plantations 16 sen to RM26.10 while PPB Group added four sen to RM15.40.

Crude palm oil for third month delivery shed RM25 to RM2,389 per tonne, snapping its recent rally.

Consumer stocks were mixed, BAT fell 28 sen to RM6.52 but Nestle rose 78 sen to RM72.88.

Lay Hong closed 15 sen higher at RM5.40 despite an unusual market activity query from Bursa Securities over the run-up in the poultry-based company.

US light crude oil rose 59 cents to US$45.33 and Brent added 26 cents to US$47.95. Petronas Daganagan added 14 sen to RM22.14, Petronas Chemicals and SK Petro were flat at RM6.06 and RM1.86 while Petronas Gas lost 10 sen to RM22.04.

Genting Bhd fell 16 sen to RM7.28 and Genting Malausian nine sen to RM4.11 while Tenaga shed two sen to RM12.06.

Among the banks, Maybank fell 10 sen to RM8.45, Hong Leong Bank six seen to RM13.20 and AmBank two sen to RM4.58 but Puboic Bank gained 14 sen to RM17.80.

The ringgit weakened against the US dollar and pound sterling but was firmer against the Singapore dollar.

It was at 4.4150 to the US dollar and 6.6921 against the pound while it firmed uo to 3.0789 against the Singapore unit.

Among the key regional markets,

Japan’s Nikkei 225 edged up 0.02% to 17,725.13;

Hong Kong’s Hang Seng Index surged 3.17% to 21,506.09;

Taiwan’s Taiex added 0.11% to 8,305.03;

South Korea’s Kospi fell 0.49% to 1,969.68 and

Singapore’s Straits Times Index fell 0.36% to 2,791.63.

The Stock Exchange Index of Thailand rose 0.2% to 1,347.79 but 

Jakarta’s Composite Index fell 1.11% to 4,207.80.

Spot gold fell US$6.23 to US$1,107.37.