KUALA LUMPUR: Bursa Malaysia was the only stock market in Asia which was in positive territory at midday on Tuesday, lifted by gains in Maybank and Public Bank but Tenaga gave up part of the recent gains.
At 12.30pm, the FBM KLCI was up 1.12 point or 0.07% 1,710.98. Turnover was 1.45 billion shares valued at RM1.13bil. There were 374 gainers, 362 losers and 284 counters unchanged.
Despite the mild gains, the ringgit lost ground against the major currencies. It fell to 4.1912 against the US dollar and was at 6.4201 versus the pound sterling and slipped to 2.9883 against the Singapore dollar.
China and Hong Kong stocks retreated Tuesday morning on profit-taking following strong rebounds over the past sessions, with investors unimpressed by China's September trade data suggesting the economy remains under downward pressure, Reuters reported.
At Bursa Malaysia, Maybank rose eight sen to RM8.59 and pushed the KLCI up 1.29 points. Public Bank and Hong Leong Bank advanced 12 sen each to RM18.60 and RM13.90 while CIMB eked out one sen to RM4.95.
AirAsia rose three sen to RM1.45 in very active trade.
MAHB added 20 sen to RM5.58. AllianceDBS Research has maintained its “hold” call on Malaysia Airports Holdings Bhd
(MAHB) but cut its target price to RM5.40 after reducing its passenger traffic forecasts for Malaysia in FY16-FY17 forecast by 3%.
Litrak rose 22 sen to RM5.32 as it was the biggest beneficiary from the toll hike which comes into effect on Thursday.
Tenaga, which had helped power the KLCI in recent days, slipped 16 sen to RM12.72 on profit taking.
Crude palm oil for third-month delivery rose RM14 to RM2,271 per tonne.
UMCCA fell 17 sen to RM5.93 and Batu Kawan and PPB Group eight sen each to RM17.70 and RM15.62 while KL Kepong lost six sen to RM22.62 and IOI Corp shed five sen to RM4.35. Sime Darby shed three sen to RM8.73.
Consumer stocks were mixed, BAT jumped RM1.28 to RM62.78 and Nestle 50 sen to RM73.60 but GAB fell 14 sen to RM14.06.
Teck Guan rose 16 sen to RM1.52, extending its rally from Monday. It told Bursa Malaysia Securities it was unaware about the price surge.
US light crude oil rose 31 cents to US$47.41 and Brent gained 39 cents to US$50.25. Petronas Dagangan added 12 sen to RM23.58; Petronas Chemicals two sen to RM6.55 and Petronas Gas was flat at RM22.80. SK Petro fell five sen to RM2.11.
At 5pm, the FBM KLCI was down points or % to. Turnover was million shares valued at. There were gainers, losers and stocks unchanged.
Among the key regional markets,
Japan’s Nikkei 225 fell 0.98% to 18,258.89;
Hong Kong’s Hang Seng Index fell 0.49% to 22,619.83;
CSI 300 fell 0.38% to 3,434.62;
Shanghai’s Composite Index fell 0.3% to 3,277.66;
Shenzen Composite fell 0.91% to 10,442.67;
Hang Seng China Enterprise fell 0.91%to 10,442.67;
Taiwan’s Taiex fell 0.39% to 8,540.14;
South Korea’s Kospi fell 0.39% also to 2,013.69 and
Singapore’s Straits Times Index fell 0.75% to 3,009.45.
Spot gold fell US$9.20 to US$1,154.65.
Limited time offer:
Just RM5 per month.
