KUALA LUMPUR: Key Asian markets saw investors taking some money off the table on Wednesday ahead of the US Federal Reserve's monetary policy announcement.
The retracement in the equities markets saw investors shifting into safe havens like gold.
At 5pm, the KLCI was down 5.11 points or 0.3% to 1,717.36. Turnover was 3.30 billion shares valued at RM2.23bil. There were 395 gainers, 480 losers and 386 counters unchanged.
Hong Kong shares eased on Wednesday, with investors focussed on what the Federal Reserve will say about tightening monetary policy during the rest of the year with markets already pricing in an immediate rise in US interest rates, Reuters reported.
At Bursa, Maybank fell 10 sen to RM8.75 and erased 1.73 points from the KLCI, CIMB lost six sen to RM5.36 and wiping out 0.9 of a point, AmBank fell four sen to RM4.81, RHB Bank was flat at RM5.18, Public Bank rose two sen to RM19.86, and Hong Leong Bank six sen higher at RM13.58.
Insurer Allianz ended down 20 sen to RM11.40 in thin trade while Aeon Credit
gave up 18 sen to RM15.70.
As for telcos, Maxis lost six sen to RM6.37, Telekom was down four sen to RM6.31, Digi shed one sen to RM5.12 and Axiata unchanged at RM4.67.
Among the consumer stocks, BAT fell 40 sen to RM46.60, F&N 12 sen lower at RM23.96, Dutch Lady and Carlsberg 10 sen lower at RM57.20 and RM14.38.
Global oil inventories rose for the first time in six months in January, despite OPEC's production cuts, but if the group maintains its output limits, the market may tilt into deficit in the first half of 2017, the International Energy Agency said on Wednesday, Reuters reported.
US light crude oil rose 82 cents to US$48.54 and Brent was up 72 cents to US$51.64. Petronas Dagangan was the top loser, down 42 sen to RM23.50, Petronas Chemicals and Petronas Gas lost two sen each to RM7.28 and RM19.76.
Plantation stocks fared better as crude palm oil for third-month delivery rose RM46 to RM2,798 per tonne.
Far East rose 30 sen to RM8.70 and United Plantations 20 sen higher at RM28 in thin trade. IOI Crop lost three sen to RM4.66, Sime Darby and KL Kepong were unchanged at RM9.13 and RM24.50 while PPB Group edged up four sen to RM16.74.
Property company Malton jumped 11 sen to RM1.31 in active trade.
Tenaga lost six sen to RM13.68, Genting Malaysia was flat at RM5.35 while Genting Bhd added two sen to RM9.62 and IHH gained seven sen to RM5.94.
Among the key regional markets,
Japan’s Nikkei 225 fell 0.16% to 19,577.38;
Hong Kong’s Hang Seng Index lost 0.15% to 23,792.85;
CSI 300 rose 0.2% to 3,463.85;
Shanghai’s Composite Index inched up 0.08% to 3,241.76;
Hang Seng China Enterprise fell 0.41% to 10,272.83;
Taiwan’s Taiex fell 0.04% to 9,740.31;
South Korea’s Kospi shed 0.04% to 2,133; and
Singapore’s Straits Times Index lost 0.19% to 3,137.43.
Spot gold rose US$4.16 to US$1,203.28.
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