KUALA LUMPUR: Late selling of IHH Healthcare and Tenaga Nasional pushed the FBM KLCI into the red on Friday as investors took profit ahead of the weekend and US labour data but Kulim jumped following the takeover plan by Johor Corp.
At 5pm, the KLCI was down 2.84 points or 0.17% to 1,685.70. Turnover was 2.02 billion shares valued at RM2.02bil. The broader market was firmer with 500 gainers, 388 losers and 341 counters unchanged.
Hong Kong shares ended down on Friday in sympathy with other Asian shares, as investors braced for U.S. employment data that is expected to bolster the case for a Federal Reserve interest rate increase as early as next month, Reuters reported.
The ringgit weakened against the US dollar at 4.3112 from 4.2985 while it firmed up against the pound sterling at 6.5427 from 6.6158 and Singapore dollar 3.0621 from 3.0601.
At Bursa Malaysia, IHH Healthcare fell eight sen to RM6.50 and erased 1.12 points from the KLCI. Tenaga shed 10 sen to RM13.10 in volatile trade as traders took profit after the previous day’s price spike over news about its lower bid for 1MDB’s power assets.
Crude palm oil for third-month delivery fell RM18 to RM2,330 per tonne as demand from Indian fell. PPB Group fell 10 sen to RM15.52, Sime Dary two sen to RM8.33, IOI Corp one sen to RM4.33 but KL Kepong rose four sen to RM23.
Cement producer Tasek fell the most, down 30 sen to RM14.46 in thin trade. Other decliners were chip maker MPI, down 15 sen to RM7.04 while Top Glove lost 10 sen to RM15.52.
Time dotCom fell 20 sen to RM6.85 in thin trade.
As for consumer stocks, Apollo gave up most of the previous day’s gains, down 25 sen to RM5 but Nestle jumped 72 sen to RM73.72 and BAT recovered from the two-day selldown to add 58 sen to RM60.20. Poultry-based Huat Lai extended its gains by 23 sen to RM5.08.
Kulim jumped 57 sen to RM3.87 and its warrants 29.5 sen to RM1, the biggest gains in recent years after major shareholder Johor Corp made a takeover offer at RM4.10 a share.
Damansara Realty, which was queried by Bursa Securities over the sudden spike in its share price, ended 29.5 sen up at 89.5 sen.
US light crude oil rose 23 cents to US$45.43 and Brent gained 29 cents to US$48.27. Petronas Dagangan rose 60 sen to RM23.16 and pushed the KLCI up 1.02 points, Petronas Gas 10 sen to RM23.10 and Petronas Chemicals two sen to RM6.57.
Among the key regional markets,
Japan’s Nikkei 225 rose 0.78% to 19,265.60;
Hong Kong’s Hang Seng Index fell 0.8% to 22,867.33;
Shanghai’s Composite Index rose 1.91% to 3,590.03;
Taiwan’s Taiex fell 1.77% to 8,693.57;
South Korea’s Kospi fell 0.41% to 2,041.07 and
Singapore’s Straits Times Index fell 0.44% to 3,010.47.
Spot gold rose US$5.02 to US$1,108.94
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