KLCI in the red again, BAT and Axiata weigh - Business News | The Star Online


KLCI in the red again, BAT and Axiata weigh

KUALA LUMPUR: The local market opened higher but looked set for another day of losses as it shrugged off the optimism of other regional markets that rose on expectations of global growth.

China's trade data showed accelerated growth in both exports and imports in September, with improts beating expectations, adding to evidence of the recent resilience in China's economy, Reuters reported.

Back home, the KLCI dipped 2.08 points to 1,751.92 points, led by a 26 sen fall in British American Tobacco to RM42.62 and an eight sen decline in Axiata to RM5.25. Turnover was 1.77 billion shares with a value of RM808.68mil. Decliners beat advancers 315 to 299 with 473 counters unchanged.

Genting was another heavyweight to experience a decline, shaving eight sen to RM9.52. 

Meanwhile, Maybank dropped two sen to RM9.51 and Public Bank slipped four sen to RM20.52. CIMB rose three sen to RM6.32 and Ambank added two sen to RM4.44 while Hong Leong Bank was unchanged at RM15.88 and RHB Bank was unchanged at RM5.15.

Among plantations plays, KL Kepong declined, falling six sen to RM24.70 while Sime Darby went two sen lower to RM9.02. PPB rose four sen to RM16.82 while IOI was unchanged at RM4.51.

Petronas Gas saw upward movement, rising 12 sen to RM18.50, while Petronas Chemicals added one sen to RM7.34 and Petronas Dagangan was unchanged at RM24.28.

On the wider market, rubber glove manufacturer Hartalega dipped 10 sen to RM7.38 even as other same-sector counters Top Glove rose three sen to RM5.96 and Supermax gained one sen to RM1.80. 

Leading decliners included Rapid, shaving 15 sen off its share price to RM5.45, and Pintaras Jaya, falling 13 sen to RM3.93.

Among gainers, Vitrox leapt 23 sen to RM5.09 while Padini added 14 sen to RM4.69. Pentamaster climbed 12 sen to RM18.60

Oil prices rose as both US crude production and investories declined, lending expectations of tighter global suppply.

WTI Crude rose 34 cents to US$50.93 a barrel while Brent Crude rose 33 cents to US$56.58 a barrel.

In currencies, the US dollar inched lower as US Treasury yields stayed near recent lows, awaiting US inflation data for a potential boost following this week's fall from 10-week highs, Reuters reported.

The ringgit traded 0.12% stronger against the greenback at 4.2185, 0.32% weaker against the pound sterling at 5.6005 and 0.03% stronger against the Singapore dollar at 3.1152.