KUALA LUMPUR: Bursa Malaysia was the only Asian market that ended in the red on Monday on profit taking on Tenaga Nasional and banks while the ringgit slipped in late afternoon trade against the key Asian currencies.
The KLCI closed down 2.41 points or 0.13% to 1,788.90. Turnover was 1.93 billion shares valued at RM1.89bil. Decliners beat advancers three to one with 660 losers to 223 gainers while 368 counters were unchanged.
The ringgit weakened against the US dollar, down 0.05% to 4.2758 and lost 0.29% versus the pound sterling to 5.4772. It dipped 0.05% to 3.0914 and gave up 0.21% to the euro to 4.7890.
After 18 relentless weeks of buying, foreign investors succumbed to negative global sentiment and lifted their foot off the pedal on Bursa Malaysia, according to MIDF Research.
The research house said the outflow was contained as the selling by international fund managers amounted to only RM99.6mil in four days of trading.
Japanese stocks hit two-week highs on Monday, as the dollar's steady performance against the yen fuelled buying of futures, while Nomura Real Estate dived after saying Japan Post was no longer considering buying a stake in the property company, Reuters reported.
Meanwhile, China stocks rose on Monday, with the blue-chip CSI300 index snapping a three-day losing streak, on signs that tight liquidity is easing and as fewer new listings are expected to come onto the market.
US light crude oil rose 10 cents to US$44.84 and Brent 13 cents higher at US$47.50.
Refiners Petron Malaysia
lost 29 sen to RM7.70 and Hengyuan 25 sen lower at RM5.40. Petronas Dagangan and Petronas Gas lost two sen each to RM24.28 and RM18.88 while Petronas Chemical shed one sen to RM7.20.
Tenaga fell six sen to RM14.38 and erased 0.56 of a point but MISC added nine sen to RM7.49 while Genting Malaysia eked out a one sen gain to RM5.66 and Genting Bhd
three sen higher at RM9.75.
Crude palm oil for third-month delivery rose RM12 to RM2,496 per tonne.
However, KL Kepong fell the most, down 40 sen to RM24.90, PPB Group lost 30 sen to RM16.90 and IOI Corp eight sen lower at RM4.50 while Sime Darby shed two sen to RM9.60.
FGV rose eight sen to RM1.84 in active trade as the government stepped in to resolve the tussle.
As for telcos, Axiata rose eight sen to RM5.07 and added 1.18 points to the KLCI. Digi rose five sen to RM5, Telekom fell three sen to RM6.62 while Maxis was suspended at RM5.88 for an announcement.
Among the banks, AmBank fell three sen to RM5.07, CIMB and Public Bank six sen lower to RM6.67 and RM20.34, Hong Leong Bank gave up 14 sen to RM15.48, Maybank was flat at RM9.63 but RHB Bank rose two sen to RM5.07.
Among the key regional markets,
Japan’s Nikkei 225 rose 0.62% to 20,067.75;
Hong Kong’s Hang Seng Index jumped 1.16% to 25,924.55;
CSI 300 gained 0.99% to 3,553.67;
Shanghai’s Composite Index added 0.68% to 3,144.37;
Hang Seng China Enterprise surged 1.31% to 10,520.80;
Taiwan’s Taiex added 0.92% to 10,250.60;
South Korea’s Kospi added 0.38% to 2,370.90 and
Singapore’s Straits Times Index added 0.49% to 3,247.18.
Spot gold fell US$2.27 to US$1,251.46.