Bears on the prowl on Bursa Malaysia
KUALA LUMPUR: Bursa Malaysia was the only market which ended Monday in the red compared with the key Asian markets, dragged down by losses in IHH Healthcare and Genting Malaysia while the broader market was mixed.
At 5pm, the FBM KLCI was down 2.67 points or 0.15% to 1,783.66. Turnover fell to 1.99 billion units valued at RM1.61bil. There were 368 gainers, 416 losers and 445 counters unchanged.
The ringgit edged up 0.02% to the US dollar to 4.1885 and climbed 0.12% against the Singapore dollar to 3.1114. However, it slipped 0.05% to the euro to 5.0019.
The ringgit fell against the strengthening pound sterling to 5.6828 – down 0.22% – the lowest since June 2016 on expectations of a Bank of England rate rise ahead of a speech by the central bank's governor Mark Carney.
Among the equities markets, China stocks rose on Monday, bolstered by stronger-than-expected loan data that added to views economic growth is holding up well and by the loosening of restrictions on stock index futures trading, Reuters reported.
Hong Kong stocks jumped to the highest in 27 months on Monday, as Asian shares hit decade highs, while stronger-than-expected Chinese loan data aided sentiment.
At Bursa, IHH fell 11 sen to RM5.89 and erased 1.54 points from the KLCI, Genting Malaysia fell 12 sen to RM5.70 and wiped out 1.21 points but Tenaga added two sen to RM14.58 and Genting edged up one sen to RM9.86.
Among the banks, CIMB fell six sen to RM6.69 and erased 0.92 of a point, Hong Leong Bank fell eight sen to RM15.90, RHB Bank and AmBank two sen each to RM5.08 and RM4.51 while Public Bank gained four sen to RM20.58. Maybank was the top mover among the KLCI stocks, up 10 sen to RM9.80 and adding 1.8 points.
US crude oil prices rose above US$50 per barrel on Monday and were near last week's multi-month highs as the number of US rigs drilling for new production fell and refineries continued to restart after getting knocked out by Hurricane Harvey, Reuters reported.
US light crude oil crossed the US$50 level, adding 30 cents to US$50.19 and Brent was 22 cents higher at US$55.84.
Petronas Chemicals added two sen to RM7.35, Petronas Dagangan four sen higher at RM24.26 but Petronas Gas fell 24 sen to RM18.34. Refiners extendiedn their winning streak, with Petron 40 sen higher at RM10.30 and Hengyuan 18 sen to RM8.08.
As for telcos, Axiata fell four sen to RM5.05, Maxis two sen lower at RM5.74, Telekom one sen down to RM6.40 and Digi was flat at RM4.87. Time dotCom fell 29 sen to RM9.31.
Crude palm oil for third month delivery fell RM19 to RM2,816 per tonne.PPB Group lost six sen to RM16.70, Sime one sen to RM9.19, KL Kepong was flat at RM24.60 while IOI Corp edged up two sen to RM4.68.United Plantations added 40 sen to RM27.40 and Chin Tek ganed 20 sen to RM8.
Burn-in tester KESM fell 32 sen to RM15.06 on profit taking.
Among the consumer stocks, Carlsberg fell 26 sen to RM14.90, Dutch Lady
and Heineken 18 sen each to RM58.82 and RM18.90 but BAT added 18 sen to RM44.28 and Ajinomoto gained 30 sen to RM20.30.
Boustead jumped 14 sen to RM2.70 with 1.93 million shares done.
Steel stocks were among the gainers, with Choo Bee up 12 sen to RM2.44 and Tong Herr 10 sen to RM3.64.
Among the key regional markets,
Japan’s Nikkei 225 was closed for a holiday
Hong Kong’s Hang Seng Index jumped 1.27% to 28,159.77;
CSI 300 gaine d0.31% to 3,843.14;
Shanghai’s Composite Index gained 0.28% to 3,362.86;
Hang Seng China Enterprise climbed 1.16% to 11,195.98;
Taiwan’s Taiex gained 0.48% to 10,631.57;
South Korea’s Kospi ralied 1.35% to 2,418.21 and
Singapore’s Straits Times Index advanced 1.02% to 3,242.14.
Spot gold fell US$5.61 to US$1,314.57.
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