For the month, the FBM KLCI is down 3.18% and year-to-date, it is down 8.02%.
KUALA LUMPUR: Bursa Malaysia's early rally on Tuesday, fuelled by gains in Petronas lined stocks, fizzled out on lack of strong follow through buying, mirroring the Asean markets which trailed behind the key Asian markets.
At 12.30pm, the FBM KLCI was down 3.98 points to 1,708.6. Turnover was 1.71 billion shares valued at RM1.04bil. The broader market was weaker with losers beating gainers 508 to 293 while 358 counters unchanged.
Overall market trading was seen as volatile with profit taking seen on recent gainers inlcuding Aeon Credit
while companies with sustained and fresh corporate news attracted attention including DRB-Hicom.
The ringgit fell against the US dollar to 4.4590 from 4.4587 but firmed up against the pound sterling to 5.5465 from 5.5537, rose to 3.1385 to the Singapore dollar from 3.1447 and edged up against the Euro to 4.7179 from 4.7358.
Among the financial stocks, Aeon Credit fell 42 sen to RM15.30 and insurer Allianz lost 12 sen to RM11.46. HLFG added 14 sen to RM15.14.
As for banks, Maybank fell two sen to RM8.40, RHB Bank shed one sen to RM5.13. Public Bank was flat at RM20.04, CIMB edged up one sen to RM5.10 and Hong Leong Bank four sen higher at RM13.50 ahead of its results later on Tuesday.
US light crude oil was up 29 cents to US$53.69 and Brent was flat at US$56.18. Petronas linked stocks gave up most of their earlier gains to reverse into the red.
Petronas Chemicals fell 13 sen to RM7.35 and erased 1.7 points from the KLCI, Petronas Gas was flat at RM20.64 and Petronas Dagangan gained two sen to RM24.26.
Crude palm oil for third-month delivery for RM5 to RM2,836. Small capitalised Innoprise lost 16 sen to RM1.19, IOI Corp 10 sen lower at RM4.53 and wiped out 1.05 points from the KLCI, KL Kepong lost six sen to RM24.42, Sime Darby three sen lower at RM9.17 and PPB Group was flat at RM16.40.
As for consumer stocks, BAT fell RM1.28 to RM49.80, Dutch Lady lost 14 sen to RM54.56 but Carlsberg added 26 sen to RM14.72 ahead of its results, F&N and Heineken rose 12 sen each to RM22.80 and RM16.86.
Genting Bhd fell eight sen to RM8.92 and Genting Malaysia was down seven sen to RM5.31 as they were seen as overbought.
Padini was a start performer on rising volume as its share price rose 16 sen to RM2.74.
AmInvestment Research upgraded its recommendation to Buy from Hold on Padini “as we raise our fair value to RM3.18/share (vs. RM2.87 previously).
“Our fair value is based on an unchanged PE 13x pegged to CY17 EPS, in line with its five-year mean,” it said.
Among the key regional markets,
Japan’s Nikkei 225 rose 0.74% to 19,394;
Hong Kong’s Hang Seng Index added 0.15% to 24,181.31;
CSI 300 added 0.25% to 3,48.14;
Shanghai’s Composite Index added 0.26% to 3,248.40;
Hang Seng China Enterprise added 0.66% to 10,513.98;
Taiwan’s Taiex shed 0.25% to 9,728.71;
South Korea’s Kospi jumped 1.13% to 2,107.85 and
Singapore’s Straits Times Index fell 0.15% to 3,091.95.
Spot gold fell US$5.51 to US$1,232.96.
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