KUALA LUMPUR: Maxis, Axiata and Genting Bhd
were the main drags on the FBM KLCI at midday on Tuesday while crude oil prices extended their losses on doubts that OPEC would be able to cut back on output at Wednesday's meeting.
At 12.30pm, the KLCI was down 1.41 points or 0.09% to 1,627.37. Turnover was 669.94 million shares valued at RM602.09mil. There were 189 gainers, 424 losers and 308 counters unchanged.
The ringgit firmed up against the main currencies, up to 4.4640 against the US dollar from 4.4638 the previous day; it gained agaisnt the pound stelring to 5.5332 from 5.5775 and climbed against the Singapore dollar to 3.1305 from 3.1329. It rose to 4.7295 against the Euro from 4.7590.
Japanese shares dropped, set to snap a 12-day rally, as concerns over events later in the week that may disrupt markets weighed on investor sentiment, reports said.
Chinese stocks traded in Hong Kong held near a seven-week high as railway companies and banks extended their gains. Insurers and brokerages led declines after rallying last week.
At Bursa Malaysia, among the telcos Maxis fell seven sen to RM5.93 and erased 0.86 of a point from the KLCI, Telekom lost eight sen to RM6.19, Axiata lost four sen to RM4.17 and Digi two sen to RM4.95.
Genting Bhd was down 10 sen to RM7.99 and Genting Malaysia two sen to RM4.81, Tenaga shed two sen to RM14.12 while MISC was unchanged at RM7.20. MAHB rose eight sen to RM6.33.
Among the consumer stocks, Ajinomoto and BAT fell 18 sen each to RM13.14 and RM44.02 while Carlsberg lost 12 sen to RM13.88. Heineken added 10 sen to RM15.86.
Maybank rose nine sen to RM7.84 and boosted the KLCI by 1.51 points, Public Bank gained four sen to RM19.58, Hong Leong Bank four sen to RM13.30 but CIMB shed two sen to RM4.64.
Oil prices dipped on Tuesday on doubts that OPEC will be able to hammer out a meaningful output cut during a meeting on Wednesday aimed at reining in a global supply overhang and propping up prices. US light crude oil fell 34 cents to US$46.74 and Brent was down 35 cents to US$47.89.
Petronas Dagangan added six sen to RM23.52, Petronas Chemicals gained two sen to RM6.81 but Petronas Gas shed two sen to RM21.38 while SapuraKencana shed one sen to RM1.43.
Crude palm oil for third-month deliveryfell RM38 to RM3,039 per tonne after the recent rally. IOI Corp and PPB Group were flat at RM4.36 and RM15.98, KL Kepong was down eight sen to RM23.90 but Sume edged up one sen to RM8.17. FGV gaind three sen to RM1.47.
PansonicMalaysia fell 48 sen to RM34.82 while Perstima lost 23 sen to RM6.71, KESM fell 14 sen to RM9.74 and Melewar was down 11.5 sen to 41 sen.
Among the key regional markets,
Japan’s Nikkei 225 fell 0.36% to 18,290.80;
Hong Kong’s Hang Seng Index shed 0.05% 22,819.54;
CSI 300 rose 0.98% to 3,569.61;
Shanghai’s Composite Index added 0.45% to 3,291.66;
Hang Seng China Enterprise fell 0.16% to 9,859.36;
Taiwan’s Taiex gained 0.28% to 9,247.64;
South Korea’s Kospi shed 0.08% to 1,976.61 and
Singapore’s Straits Times Index eased 0.13% to 2,871.05.
Spot gold fell US$3.53 to US$1,190.47.
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