Pedestrians stand before a stock market indicator board in Tokyo, Japan, 12 February 2016. Japanese stocks plummeted for the third consecutive day following a massive global sell-off amid falling crude oil prices, as export-linked issues were battered by a stronger yen. The Nikkei 225 Stock Average lost 760.78 points, or 4.84 per cent, to end at 14,952.61, under the 15,000 mark for the first time since October 2014. For the week, the Nikkei fell 11.1 per cent. EPA
KUALA LUMPUR: The FBM KLCI closed in the red on Friday, dragged down by losses in Genting group, Maxis and Petronas Chemicals as sentiment took a dent from the fall in key Asian markets.
However, the rebound in crude oil prices and crude palm oil (CPO) prices helped offset the weakening ringgit again.
At 5pm, the KLCI was down 0.21 point or 0.01% to 1,643.74. Turnover was 1.33 billion shares valued at RM1.57bil. Decliners beat advancers about two to one or 517 losers to 271 gainers and 312 counters were unchanged.
The ringgit weakened against the US dollar, pound sterling and Singapore dollar. It was at 4.1640 to the greenback from the previous close of 4.1453 and it was at 6.0492 to the pound from 5.9856. It eased to 2.9833 against the Singapore unit from 2.9819.
Oil prices jumped after comments by the energy minister of OPEC-member United Arab Emirates sparked hopes of a coordinated production cut, yet analysts said such a move remained unlikely and that oversupply would persist.
US light crude oil jumped US$1.23 to US$27.44 and Brent gained US$1.42 to US$31.48.
Petronas Chemicals fell six sen to RM6.90, Petronas Gas four sen to RM22.24 while Petronas Dagangan was flat at RM25 but SK Petro added two sen to RM1.80.
Genting Malaysia fell 12 sen to RM4.27 and erased 1.02 points from the KLCI while Genting Bhd
was down eight sen to RM7.79.
Maxis fell the most among the telcos, down eight sen to RM6.06 and wiping out 1.02 points, TM was flat at RM6.59, Digi and Axiata edged up one sen each to RM4.85 and RM5.60.
Crude palm oil for third-month delivery rose RM38 to RM2,643 per tonne as stockpiles shrink due to the impact of the El Nino.
Among the plantations, IOI Corp and KL Kepong rose six sen each to RM4.67 and RM23.18 while Sime was unchanged at RM7.74. United Plantations and BLD Plantations fell 20 sen each to RM25 and RM8.90 and PPB Group shed four sen to RM15.66.
LNG and petroleum carrier MISC staged a mild rebound, adding 12 sen to RM8.70 but analysts were still cautious about the outlook for the shipping sector.
Chip makers were among the top losers throughout the day on the weaker outlook for the semiconductor sector. Globetronics fell 21 sen to RM5.43 and MPI 20 sen to RM7.60 and KESM four sen to RM4.36.
Shell Refining fell 30 sen to RM3.05. The Employees Provident Fund disposed of two million shares last week.
Consumer stocks were among the top gainers, with Dutch Lady up RM1.50 to RM51.96 and F&N added 50 sen to RM19.60.
Among the banks, CIMB rose six sen to RM4.20, HLFG 10 sen to RM13.88 while Hong Leong Bank, Public Bank and RHB Capital were unchanged at RM13.04, RM18.50 and RM5.25 while AmBank shed twoi sen to RM4.31 and Maybank three sen to RM8.51.
Among the key regional markets,
Japan’s Nikkei 225 tumbled 4.84% to 14,952.61;
Hong Kong’s Hang Seng Index lost 1.22% to 18,319.58;
Hang Seng China Enterprise lost 1.99% to 7,505.37;
South Korea’s Kospi fell 1.41% to 1,835.28 and
Singapore’s Straits Times Index rose 0.07% to 2,539.95.
Spot gold lost US$8.92 to US$1,237.78.
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