Petronas Gas, Genting stocks close lower, tech stocks advance

KUALA LUMPUR: Selling pressure on Petronas Gas, Genting Bhd and Genting Malaysia pushed the FBM KLCI further into the red on Thursday – the fourth straight day of losses – ahead of the extended weekend.

However, technology related and chip makers managed to buck the mixed market and the technology index is up 67.9% year-to-date.

At 5pm, the KLCI was down 2.54 points or 0.14% to 1,771.04. Turnover was 3.25 billion shares valued at RM2.41bil. There were 378 gainers, 434 losers and 438 counters unchanged.

Emerging stocks and currencies fell on Thursday after the US Federal Reserve confirmed it would reverse its stimulus programme from next month and stick to rate hike plans, Reuters reported.

Philippine shares rose to a record high while other Southeast Asian stock markets slipped, in line with broader Asia. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3%, it reported. 

The ringgit fell against the US dollar, down 0.25% on the day to 4.1980. However, year-to-date, it is up 9.55%.

The local unit rose against the pound sterling, up 0.36% to 5.6631, edging up 0.21% versus the Singapore dollar to 3.1076 and advanced 0.57% against the euro to 5.005.

US light crude oil fell 22 cents to US$50.47 and Brent lost 18 cents to US$56.11.

Petronas Gas was the top loser, down 34 sen to RM18.02 and erased 1.14 points from the KLCI.  Petronas Dagangan fell two sen to RM24.22 but Petronas Chemicals eased one sen to RM7.30.

Hibiscus fell 3.5 sen to 61.5 sen and it was the most active with 476.6 million shares done, UMW-OG, Sumatec and Alam Maritim shed 0.5 sen each to 34.5 sen 34.5 sen, six sen and 21 sen respectively. KNM was flat at 28.5 sen.

Among the chip stocks, burn-in tester KESM was the top gainer, up 52 sen to RM16.50, Pentamaster added 33 sen to RM4.87, MPI advanced 26 sen to RM13.66, Vitrox 18 sen up to RM4.59 while JF Tech added 14 sen to RM2.05.

Genting Bhd fell 11 sen to RM9.75 and Genting Malaysia nine sen down to RM5.60 and erasing 1.6 points from the KLCI.

As for the heavyweights, Tenaga fell six sen to RM14.44, IHH Healthcare three sen to RM5.80.

RHB Bank was the top performer among the banks, up 13 sen to RM5.28 and adding nearly 0.9 of a point to the KLCI, CIMB rose four sen to RM6.35, Maybank was flat at RFM9.85, Public Bank lost two sen to RM20.58,  AmBank six sen to RM4.50 and Hong Leong Bank eight sen to RM15.90.

Crude palm oil for third month delivery fell RM28 to RM2,742 per tonne.

IOI Corp lost three sen to RM4.60, Sime Darby was flat at RM9.13, PPB Group added six sen to RM16.86 and KL Kepong advanced 12 sen to RM24.54.

MAHB lost 16 sen to RM8.64, Gas Malaysia lost 12 sen to RM2.86 and Westports 11 sen lower at RM3.77.