KUALA LUMPUR: Blue chips extended their losses early Tuesday, weighed down by losses in Maxis while the broader market was firmer with buying seen at lower levels.
At 9.28am, the KLCI was down 2.69 points or 0.15% to 1,786.21. Turnover was 180.26 million shares valued at RM122.44mil. There were 239 gainers, 133 losers and 216 counters unchanged.
Stock market data showed foreign funds were net sellers on Bursa on Monday at RM42.45mil while local institutions were net buyers at RM25.90mil and local retailers net buyers also at RM16.55mil.
Meanwhile, Japan's Nikkei rose more than 1% to hit a near two-year high on Tuesday following a rebound in US hi-tech shares as investors bet on solid growth in the economy and corporate profits globally.
MSCI's broadest index of Asia-Pacific shares outside Japan was little changed in early trade, Reuters reported.
Meanwhile, oil prices inched up from seven-month lows in Asian trading on Tuesday, but gains were limited as investors focused on persistent signs of rising supply that are undermining attempts by OPEC and other producers to support prices.
Brent futures were up 13 cents at US$47.04 at 0034 GMT. US West Texas Intermediate crude futures were up 13 cents also at US$44.33 a barrel.
At Bursa, Maxis fell 22 sen to RM5.66 after it resumed trading following its proposed equity-raising as it would dilute its earnings per share.
Maxis is issuing 300 million new shares (representing 4% of total existing shares) via a private placement with Bloomberg reporting a price range of RM5.52 to RM5.75. Maxis call warrants tumbled 11.5 sen to 4.5 sen and Maxis-CZ lost nine sen to six sen and Maxis-CY 8.5 sen lower at three sen.
BAT fell the most, down 34 sen to Rm45.22, Petronas Dagangan 20 sen to RM24.08 and MISC 10 sen lower at RM7.39. AmBank lost five sen to RM5.02.
However, MBSB rose three sen to RM1.35 as it sought Bank Negara Malaysia’s approval for its merger with Asian Finance Bank.
FGV was flat at RM1.84 after the recent rally following the shake-up at the top level.
MAHB gained 16 sen to RM8.81, JF Tech 12 sen to RM1.78, JHM nine sen to RM2.56 while Sunway was up seven sen to RM3.96 and Unisem six sen higher at RM3.51.
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