KUALA LUMPUR: Blue chips extended their losses early Thursday, putting the first day of September on a cautious note, with PPB Group, MAHB and RHB Bank weighing on the FBM KLCI.
At 9.34am, the FBM KLCI was down 5.38 points or 0.32% to 1,672.68. Turnover was 329.89 million shares valued at RM248.53mil. The broader market was weaker with 284 losers to 158 gainers and 216 counters unchanged.
Asian shares dipped on Thursday after lower crude oil prices dented Wall Street, as markets waited to see if US jobs data could put the Federal Reserve on track to hike interest rates, Reuters reported.
Brent crude futures added 0.2% to US$47 per barrel, after falling 2.8% overnight. However, it was still up 11% for August. US crude added 0.3% to US$44.83 after shedding 3.6% on Wednesday. It still gained more than 7% for the month.
Reuters also reported activity in China's services industry expanded again in August, but at a slightly slower pace than in the previous month, an official survey showed on Thursday.
The official non-manufacturing Purchasing Managers' Index (PMI) stood at 53.5 in August, compared to the previous month's reading of 53.9 and above the 50-point mark that separates growth from contraction on a monthly basis.
At Bursa Malaysia, among the blue chips, PPB Group fell 16 sen to RM15.92, MAHB lost 12 sen to RM6.18 and RHB Bank was down 10 sen to RM4.90.
Poultry company Huat Lai fell 16 sen to RM4.21 while Perak Corp lost 11 sen to RM2.32 and DKSH 10 sen lower at RM5.52.
FGV rose in active trade, extending its gains from August on improving earnings. FGV rose seven sen to RM2.34, FGV-C15 was up 2.5 sen to 31 sen and FGV-C16 added two sen to 21.5 sen.
Consumer stocks were among the top gainers, with Nestle up 80 sen to RM79.64, F&N rose 28 sen to RM24.68 and Dutch Lady
gained 10 sen to RM59.30.
Property stocks which gained in early trade were YNH, up 16 sen to RM1.77, PJ Development 11 sen to RM1.50 and its warrants, WC, added eight sen to 50 sen.
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