Genting slumped 15 sen to RM6.80 and erased 1.01 points while GentingM was down three sen to RM3.25 following the recent corporate news which were viewed as negative by investors.
KUALA LUMPUR: Key Asian markets and Bursa Malaysia extended their losses on Tuesday after the overnight tumble on Wall Street as hopes for a Chritsmas rally dissipitated due to economic worries, the US-China trade spat and expectations of higher interest rates in the US.
At 5pm, the FBM KLCI was down 6.31 points or 0.38% to 1,635.31. Turnover was 2.27 billion shares valued at RM1.91bil. Decliners beat advancers neary seven to two or 699 losers to 222 gainers and 293 counters were unchanged.
World stock markets tumbled as fears about a slowing global economy gripped investors, just as the U.S. Federal Reserve looks set this week to deliver its fourth interest-rate hike of the year, Reuters reported.
Hong Kong stocks slipped hit by a double whammy of policy disappointment in China and depressing share prices across the region. The Hang Seng Index fell 1.05%, Singapore's STI tumbled 2.21%, Japan's Nikkei 225 was down 1.82% and China's Shanghai Composite lost 0.82%.
At Bursa, Sime Plantation fell 21 sen to RM4.09 and erased 2.53 points from the KLCI, PPB Group lost eight sen to RM16.80, KL Kepong two sen lower at RM23.92 but IOI Corp added eight sen to RM4.26.
Crude oil tumbled on worrying stockpiles, with US crude down 3.17% or US$1.58 to US$48.30 and Brent sliding 3.19% or US$1.90 to US$57.71 and knocking oil and gas counters on Bursa.
Dialog fell 10 sen to RM2.95 and erased one point, Petronas Gas 26 sen to RM19.28, Petronas Chemical three sen to RM9.15 but Petronas Dagangan gained 22 sen to RM25.72.
Hibiscus Petroleum lost 14 sen to 86 sen while Bumi Armada
shed 0.5 sen to 15.5 sen in active trade.
Power giant Tenaga fell 22 sen to RM12.70 – the lowest sinceApril 2017. IHH Healthcare was down 16 sen to RM5.19 and erased 2.48 points, Genting Bhd shed one sen to RM6.03 but Genting Malaysia added three sen to RM2.83.
Telcos fared better, with Digi up 19 sen to RM4.38 and shoring up the KLCI by 2.6 points. Maxis gained four sen to RM5.28, Axiata three sen to RM3.80 and Telekom one sen to RM2.60.
As for banks, Maybank fell eight sen to RM9.22, Hong Leong Bank 10 sen to RM20.30 and CIMB eight sen lower at RM5.63 but Public Bank and RHB Bank rose four sen each to RM24.26 and RM5.20.
Chip-related KESM fell 28 sen to RM7.90 on the cloudy outlook for the semcionductor sector.
Top Glove came under sellling pressure, falling 28 sen to RM5.46 despite the better results. Supermax lost 25 sen to RM3.29.
VS Industry slumped 16.5 sen to 65.5 sen – a multi-year low – after hitting limit down the previous day. It was the most active with 164 million shares done.
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