KUALA LUMPUR: Geopolitical tensions and weaker corporate results in the quarter ended Dec 31, 2018 weighed on the FBM KLCI on Thursday while low-cost carrier AirAsia Group fell after its quarterly loss.
At 5pm, the FBM KLCI was down 5.72 points or 0.33% to 1,707.73. Turnover was 2.57 billion shares valued at RM2.96bil. The broader market was weaker with 702 losers to 241 gainers and 324 counters unchanged.
The Hong Kong stock market fell on waning hopes for a speedy de-escalation to the China-US tariffs tussle, and after the US and North Korean leaders cut short their widely-watched summit. India-Pakistan tensions continued to linger, Reuters reported. At the close of trade, the Hang Seng index was down 0.4% and the Hang Seng China Enterprises index fell 0.8%.
At Bursa, Digi fell 11 sen to RM4.55 and erased nearly 1.5 points from the KLCI, Maxis unchanged at RM5.37 while Axiata regained seven sen to RM4.16 and added 1.11 points to the index.
Petronas Chemicals' rally hit a speed bump as investors took some money off the table. It fell seven sen to RM9.22 and erased nearly one point. Petronas Gas lost 16 sen to RM18.08 but Petronas Dagangan added 10 sen to RM26.70 while Dialog shed one sen to RM3.23.
Glove makers also did not fare well with Top Glove down 14 sen to RM4.54 and Hartalega
12 sen lower at RM5.
MISC fell eight sen to RM6.90, Tenaga six sen lower at RM13.42 while GentingM was up three sen to RM3.50 and Genting Bhd advanced five sen to RM7.37. Sime Darby lost two sen to RM2.17 but IHH gained seven sen to RM5.73.
AirAsia fell 27 sen to RM2.77 with 74.6 million shares done. This was the lowest since Dec 26 after it posted quarterly losses.
Pos Malaysia fell 19 sen to RM1.92 – the lowest since Feb 4 – after posting losses.
Among the banks, AmBank lost 11 sen to RM4.47, Public Bank six sen to RM25, Maybank shed five sen to RM9.53 and Hong Leong Bank two sen to RM21.28 but RHB Bank edged up seven sen to RM5.66.
As for plantations, FGV lost six sen to RM1.12 after it posted net losses of RM1.08bil in the financial year ended Dec 31, 2018 as it was impacted by impairments and provisions of RM1bil
Sime Plantation edged up one sen to RM5.10, IOI Corp unchanged at RM4.49, KL Kepong fell six sen to RM24.74 and PPB Group 14 sen lower to RM18.36.
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