KLCI falls for fifth day, down nearly 18pts

KUALA LUMPUR: Blue chips extended their losing streak for the fifth day on Thursday, tracking the decline in key regional markets especially Japan when the central bank held off expanding its  monetary surplus. Foreign funds continued to be net sellers for the third day.

Despite the decline in the equities market, the ringgit held firm as the new Bank Negara Malaysia Governor Datuk Muhammad Ibrahim was expected to ensure the continuity of Tan Sri Dr Zeti Akhtar Aziz who retires on April 30 after her 16-year tenure.

At 5pm, the FBM KLCI was down 17.58 points or 1.04% to 1,674.76 and pushed the index deeper into the red with year-to-date losses of 1.05%, dragged down by losses in Axiata, BAT and Tenaga Nasional.

Turnover was 1.78 billion shares valued at RM2.31bil. Decliners beat advancers 570 to 274 while 332 counters were unchanged.

Stock market data showed foreign funds were net sellers at -RM130mil while local institutions and retail investors were net buyers at RM65mil each.

Key Asian markets were mostly lower, with Japan's Nikkei 225 the worst hit as it tumbled 3.6% after the Bank of Japan disappointed investors decided against expanding its monetary stimulus. 

The ringgit strengthened to 3.8970 to the US dollar from 3.9150 and it was at 5.6904 to the pound sterling from 5.7128. It slipped against the Singapore dollar to 2.9012 from 2.9011 but firmed up against the euro to 4.4258 from 4.4323.

At Bursa Malaysia, BAT was the top loser, down as much as RM4.40 to RM47.70 while Dutch Lady lost 34 sen but F&N gained 40 sen to RM23. Heneiken (formerly GAB) rose 20 sen to RM15.18.

Axiata fell 24 sen to RM5.56 and erased 3.62 points from the KLCI, Maxis was down 13 sen to RM5.62 and Digi seven sen to RM4.38 while Telekom shed one sen to RM6.68.

Tenaga lost 20 sen to RM14.20 after posting a weaker set of results and wiping out 1.93 points.

As for banks, CIMB fell 10 sen to RM4.74, Public Bank six sen to RM18.70, Maybank five sen to RM8.90 but AmBank and RHB Cap gained three sen to RM4.54 and Hong Leong Bank six sen to RM13.54.

US light crude oil edged up one cent to US$45.34 and Brent added six cents to US$47.24.

Among the oil and gas stocks, SK Petro fell the most, down 13 sen to RM1.64 after Seadrill disposed of its 490 million shares at RM1.58. Petornas Chemicals wasflat at RM6.70. Petronas Dagangan added four sen to RM23.84 and Petronas Gas six sen to RM22.

Crude palm oil for third month delivery fell RM34 to RM2,599. IOI Corp edged up one sen to RM4.42, KL Kepong eight sen higher at RM24 and PPB Group 12 sen to RM16.24 but Sime shed two sen to RM7.81.

Among the key regional markets,

Japan’s Nikkei 225 skidded 3.61% to 16,666.05;

Hong Kong’s Hang Seng Index rose 0.12% to 21,388.03;

CSI 300 lost 0.17% to 3,160.58;

Shanghai’s Composite Index was down 0.27% to 2,945.59;

Shenzhen Composite shed 0.12% to 1,874.31;

Hang Seng China Enterprise rose 0.26% to 9.,060.93;

Taiwan’s Taiex fell 1.04% to 8,473.87;

South Korea’s Kospi ended down 0.72% to 2,000.93 and

Singapore’s Straits Times Index shed 0.43% to 2,862.30.

Spot gold rose US$11.82 to US$1,257.65.