KUALA LUMPUR: Malaysia's blue chips closed lower, tracking the losses in most key Asian markets on Friday, as buying slowed down despite the firmer crude oil prices.
The FBM KLCI gave up part of the previous day's gains, dragged down by losses in Genting Bhd
, HLFG and Axiata while the ringgit lost ground.
The KLCI ended down 3.51 points or 0.2% to 1,717.96. Turnover was 1.64 billion shares valued at RM1.65bil. There were 378 gainers, 396 losers and 388 counters unchanged.
The ringgit closed lower against the main currenices, siding to 3.9005 to the US dollar from 3.8853 and at 5.5971 to the pound sterling from 5.5603. It was weaker against the Singapore dollar at 2.8899 from 2.8853 while against the euro, it slipped to 4.3968 from 4.3875.
Oil prices rose on Friday towards US$45 a barrel, heading for a third straight week of gains as market sentiment turned more upbeat despite persistent oversupply, Reuters reported. US light crude was up 18 cents to US$43.36 and Brent up six cents to US$44.59.
Crude palm oil (CPO) for third month delivery extended its decline throught the day, down RM46 to RM2,689 as reports said the decline was due to stalling of the soybean rally.
KL Kepong fell eight sen to RM23.92, Sime Darby four sen to RM7.93, IOI Corp one sen to RM4.45, PPB Group was flat at RM16.36.
Genting Bhd fell 17 sen to RM9.43 and erased 1.09 points, Genting Malaysia lost four sen to RM4.52, MISC four sen to RM8.86 while Tenaga was flat at RM14.50.
Among the finance stocks, HLFG fell the most, down 32 sen to RM15.18 and erased 0.63 of a point. RHB Cap lost eight sen to RM6.20, AmBank three sen to RM4.61, CIMB one sen to RM4.91 but Maybank and Public Bank advanced four sen each to RM9.05 and RM19.14 and Hong Leong Bank six sen to RM13.68.
Bursa Malaysia lost 15 sen to RM8.73 on some profit taking but in relatively steady volume while infrastrcuture compay IJM was down 11 sen to RM3.49.
Among the semicon companies, MPI added 20 sen to RM7.32 after the North America-based manufacturers of semiconductor equipment posted US$1.38bil in global orders in March 2016, the best in six months, which reflected the recovery in the sector.
Among the consumer stocks, Carlsberg fell 12 sen to RM13.68. However, BAT rose 52 sen to RM54.50, F&N 22 sen to RM21.22 and Dutch Lady 20 sen to RM53.66.
KAF rose 18 sen to RM2.68 after the takeover offer became unconditional. Aeon Credit's firmer results saw the share price climb 22 sen to RM13.
IW City jumped eight sen to 90.5 sen in active trade after the related company, Iskandar Waterfront Holdings Sdn Bhd, attracted the attention of tycoom Tan Sri Quek Leng Chan.
Among the key Asian markets,
Japan’s Nikkei 225 rose 1.2% to 17,572.49;
Hong Kong’s Hang Seng Index lost 0.72% to 21,467.04;
CSI 300 gained 0.45% to 3,174.90;
Shanghai’s Composite Index added 0.22% to 2,959.24;
Shenzhen Composite gained 1.03% to 9,120.91;
Hang Seng China Enterprise fell 1.38% to 9,120.91;'
Taiwan’s Taiex lost 0.38% to 8,538.75;
South Korea’s Kospi lost 0.33% to 2,015.49 and
Singapore’s Straits Times Index ended down 0.69% to 2,940.43.
Spot gold fell US$1.77 to US$1,246.28.
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