KUALA LUMPUR: Profit taking continued from the previous week on foreign fund selling as the FBM KLCI fell more than four points early Monday.
At 9.13am, the FBM KLCI was down 4.12 points or 0.25% to 1,624.670. Turnover was 130.82 million shares valued at RM48.69mil. There were 120 gainers, 135 losers and 171 counters unchanged.
Last Friday, foreign funds were net sellers at –RM223.8mil while local funds were net buyers at RM222.4mil and local retailers were nibbling with net buying at just RM1.4mil.
Asian shares rose on Monday after a solid session on Wall Street, while the dollar held near recent highs against major rivals as investors bet that the US Federal Reserve was on track to raise rates sooner rather than later, Reuters reported.
Oil prices slipped in early Asian trade on Monday on a strong dollar amid signs that global oil supply is holding up even as unplanned outages rise to at least a five-year high.
US crude futures fell 16 cents to US$48.25 a barrel after settling down 41 cents in the previous session. Brent futures were down seven cents at US$48.65 a barrel after ending the previous session nine cents down.
At Bursa Malaysia, Focus Lumber was the top loser, down 25 sen to RM2.09 with 1.48 million shares done.
Among the blue chips, Genting Bhd
and MISC fell nine sen each to RM8.42 and RM7.36. As for banks, Public Bank was down eight sen to RM19.08 but RHB Cap added six sen to RM5.93.
Petronas Gas lost 22 sen to RM21.10 with 100 shares done while HLFG and Telekom lost eight sen each to RM14.84 and RM6.62 while Hong Leong Bank was down six sen to RM13.16.
However, F&N rose 30 sen to RM23.80 with 300 shares done.
While KL Kepong lost 14 sen to RM22.80 , PPB Group added 20 sen to RM16 and United Plantations 10 sen to RM27.
Hartalega added nine sent to RM4.36 as its exports benefit from a weaker ringgit.
Lii Hen rose 11 sen to RM2.62 after its 1QFY16 net profit almost doubled to RM21.02mil from a year ago, mainly dueto higher demand for its products and the strengthening of the US dollar against the Ringgit.
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