KUALA LUMPUR: The initial exuberance on Bursa Malaysia faded on Wednesday as investors turned cautious amid the mixed key Asian markets despite the record close on Wall Street but the ringgit advanced against several key currencies.
Weighing on the FBM KLCI were Genting Malaysia, CIMB and Axiata while non-KLCI stocks Globetronics and Willowglen closed lower.
At 5pm, the KLCI was down 3.79 points or 0.21% to 1,786.07. Turnover was 2.7 billion shares valued at RM1.85bil. In terms of trading volume, this was a decline from the 3.66 billion shares done on Tuesday.
The broader market was cautious with 362 gainers to 462 losers and 428 counters unchanged.
Hong Kong stocks dipped on Wednesday, as Asian equities slipped from 10-year highs despite Wall Street hitting record highs overnight, Reuters reported.
The Hang Seng index fell 0.3%, to 27,894.08, while the China Enterprises Index lost 0.5%, to 11,187.07.
The ringgit rose 0.39% to the US dollar at 4.1915 and advanced 0.34% to the pound sterling at 5.5627. It also climbed 0.34% to 3.1152 and eked out a 0.2% gain against the euro to 5.0202.
Genting Malaysia fell 15 sen to RM5.75 and erased 1.51 points from the KLCI, IHH Healthcare lost three sen to RM5.97, Genting Bhd
shed two sen to RM9.93 and Tenaga was flat at RM14.58.
Among the banks, CIMB fell eight sen to RM6.72 and erased 1.23 points from the KLCI, Public Bank shed four sen toRM20.58, Maybank and Hong Leong Bank were flat at RM9.70 and RM15.90, RHB Bank edged up one sen to RM5.07 and AmBank gained five sen to RM4.35.
Axiata lost three sen to RM5.19, Maxis two sen to RM5.80. Digi was flat at RM4.91 but Telekom rose eight sen to RM6.41.
Willowglen lost 12 sen to RM1.27 as investors were disappointed with the proposed takeover at 80 sen a share from New Advent Sdn Bhd, a company owned by the family of Willowglen group managing director Wong Ah Chiew at 80 sen each. The shares had surged in recent weeks ahead.
Globetronics lost 23 sen to RM6.34 after it was downgraded to a sell as the launch of the Apple smartphone did not feature the bundling of premium wireless earphones in any of the three new smartphone variants.
Crude palm oil for third month delivery rose RM27 to RM2,856 per tonne on anticipation of stronger demand.
IOI Corp rose nine sen to RM4.64 and added nearly one point to the KLCI. The increase was underpinned also by a proposed dividend. Sime gained one sen to RM9.14, KL Kepong added two sen to RM24.82 while PPB Group was unchanged at RM16.84.
US light crude oil rebounded 42 cents to US$48.65 and Brent added 38 cents to US$54.64. the International Energy Agency said the global oil surplus was starting to shrink due to robust global demand and an output drop from OPEC and other producers, Reuters reported.
Refiner Hengyuan fell 21 sen to RM7.88 and Petron was down seven sen to RM9.90. Petronas Gas fell eight sen to RM18.66, Petronas Chemical and Petronas Dagangan were flat at RM7.45 and RM24.22.
Triplc surged 40 sen to RM2.05 after Puncak Niaga Holdings received the Securities Commission's approval for the purchase of the former for RM210mil cash consideration.
Among the consumer stocks, Nestle was the top loser, down 48 sen to RM85, Dutch Lady lost 30 sen to RM59 but Ajinomoto rose 46 sen to RM19.88 and BAT 30 sen higher at RM44.30.
As for chip makers and tech related stocks, MPI rose 36 sen to RM13.96 and KESM 32 sen higher at RM15.22.
Among the key regional markets,
Japan’s Nikkei 225 rose 0.45% to 19,865.82;
Hong Kong’s Hang Seng Index fell 0.28% to 27,894.08;
CSI 300 gained 0.12% to 3,824.61;
Shanghai’s Composite Index increased 0.14% to 3,384.15;
Hang Seng China Enterprise fell 0.49% to 11,187.07;
Taiwan’s Taiex lost 0.73% to 10,532.88;
South Korea’s Kospi was down 022% to 2,360.18 and
Singapore’s Straits Times Index lost 0.16% to 3,230.36.
Spot gold rose 51 cents to US$1,332.32.