KUALA LUMPUR: MISC and telco stocks led blue chips lower at midday on Wednesday as the FBM KLCI fell more than eight points and pushed the 30-stock index into the red year-to-date.
At 12.30pm, the FBM KLCI was down 8.19 points or 0.48% to 1,684.31 and was down 0.55% year-to-date. Turnover was 1.02 billion shares valued at RM758.84mil. There were 264 gainers, 399 losers and 330 stocks unchanged.
Asian stocks were subdued on Wednesday, as investors stayed cautious ahead of US and Japanese central bank policy decisions, while crude oil prices hovered near 2016 highs, Reuters reported.
US light crude oil rose 43 cents to US$44.47 and Brent gained 47 cents to US$46.21. However, the gains in oil prices failed to lift the cautious mood on Bursa.
The ringgit weakened against the US dollar, pound stering and Singapore dollar. It was at 3.9342 to the greenback from 3.9290 the previous day, it slipped against the pound to 5.7366 from 5.7251 while against the Singapore dollar, it was lower at 2.9120 from 2.9063.
At Bursa, MISC fell 14 sen to RM8.59 and erased 1.04 points from the KLCI. Genting was down 15 sen to RM8.92.
Among the relcos, Digi fell 13 sen to RM4.40, Axiata 12 sen to RM5.60, Maxis nine sen to RM5.76 but Telekom Malaysia edged up one sen to RM6.70.
Crude palm oil for third month delivery fell RM7 to RM2,668 per tonne. Batu Kawan fell 20 sen to RM17.60, Sime Darby shed four sen to RM7.69 but KL Kepong and PPB Group added two sen each to RM23.92 and RM16.20 while IOI Corp rose five sen to RM4.42.
As for banks, Hong Leong Bank fell 16 sen to RM13.44, AFG 14 sen to RM4.05, RHB Capital 11 sen to RM6.03, Public Bank shed eight sen to RM18.76, AmBank six sen to RM4.50 but CIMB gained six sen to RM4.79.
Spring Gallery came under selling pressure, skidding 15 sen to RM1.08 in active trade after the query from Bursa Securities over the recent surge in its share price. Its loan stocks fell two sen to eight sen,
AirAsia rose five sen to RM1.96, AAX 0.5 sen to 34.5 sen and the warrants also 0.5 sen to 19.5 sen.
Dutch Lady
rose 78 sen to RM53.70, Ajinomoto 55 sen to RM10.20 but BAT slumped RM1.62 to RM52.88.
Top Glove rose nine sen to RM5.12 as the export based company benefits from a weaker ringgit.
Among the key regional markets,
Japan’s Nikkei 225 fell 0.4% to 17,284.25;
Hong Kong’s Hang Seng Index lost 0.24% to 21,356.43;
Shanghai’s Composite Index edge dup 0.3% to 2,965.61;
Taiwan’s Taiex lost 0.13% to 8,570.35;
South Korea’s Kospi lost 0.23% to 2,014.97 and
Singapore’s Straits Times Index fell 0.36% to 2,884.34.
Spot gold fell six cents to US$1,243.34.
Limited time offer:
Just RM5 per month.
