KUALA LUMPUR: Digi and Maybank dragged the FBM KLCI into the red at the close of market on Friday, though Petronas-linked stocks helped shore up the blue chips in another downbeat day.
At 5pm, the KLCI was down 4.04 points or 0.23% to 1,717.23. Turnover was 1.84 billion shares valued at RM2.52bil. There were 322 gainers, 476 losers and 462 counters unchanged.
The ringgit fell against the US dollar and other key currencies. It was down 0.21% to the greenback at 4.1163; lost 0.17% to the pound sterling at 5.4857; lost 0.2% to the euro at 4.8820 and shed 0.03% to the Singapore dollar at 3.0558.
On the external front, Hong Kong stocks rebounded, recording a fourth week of gains, as mainland shares showed signs of stabilising after Thursday’s tumble, Reuters reported.
Chinese stocks ended a choppy day little changed on Friday after suffering their biggest selloff in months the previous session, reflecting a clash between bulls and bears over the implications of fresh government steps to reduce financial risks.
At Bursa, Digi fell 26 sen to RM4.41 – the lowest since June 2016 -- in a knee-jerk reaction to its removal from the Shariah list as the telco’s conventional debt-to-total assets exceeded the 33% threshold as at Dec 31, 2016. Digi's fall erased 3.43 points from the KLCI.
Maxis fell two sen to RM5.89, Telekom was flat at RM6 and Axiata edged up one sen to RM5.31.
Among the banks, Maybank fell six sen to RM9.15, Hong Leong Bank lost 16 sen to RM15.32, CIMB and Public Bank were flat at RM5.98 and RM20.32, RHB Bank added two sen to RTM4.91 and AmBank five sen highe rat RM4.26.
MISC fell 13 sen to RM7.06, Tenaga two sen lower at RM14.82, Genting Malaysia edged up one sen to RM5.11 and Genting Bhd
gained five sen to RM9.20.
US light crude oil jumped 56 cents to US$58.58 and Brent edged up seven cents to US$63.62. Petronas Gas rose 22 sen to RM16.76 and pushed the KLCI up 0.74 of a point, Petronas Chemicals gained five sen to RM7.35 and Petronas Dagangan 10 sen to RM23.60. Petron lost 20 sen to RM12.16.
Crude palm oil for third-month delivery climbed RM17 to RM2,626 per tonne. As for plantations, KL Kepong rebounded 24 sen to RM24.50 but PPB Group fell 16 sen to RM16.60 and IOI Corp seven sen lower at RM4.45.
Sime Darby which will halt trading from Monday under the corporate exercise until the relisting of the company, Sime Darby Property and Sime Darby Plantations, rose one sen to RM8.94.
Burn-in tester KESM fell the most on Friday, down 50 sen to RM19.90 – the lowest since Nov 16. Its share price has almost doubled year-to-date.
Glove makers fell with Kossan down 18 sen to RM7.95 and Hartalega 15 sen lower at RM9.35 on profit taking.
Lion Industries fell 18 sen to RM1.43 after posting a weaker set of results, but Masteel jumped 19 sen to RM1.51 and Choo Bee 15 sen to RM2.45.
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