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Published: Monday November 26, 2012 MYT 1:47:00 PM

BAT, CIMB, DiGi drag KLCI into the red

KUALA LUMPUR: Malaysian blue chips were in the red at midday on Monday, dragged down by BAT, CIMB and DiGi as local investors decided to stay on the sidelines while the selling could be mostly by foreign funds.

At 12.30pm, the FBM KLCI fell 2.34 points or 0.14% to 1,611.98. Turnover was 503.59 million shares valued at RM434.01mil. There were 188 gainers, 319 losers and 286 counters unchanged.

Last Friday, the KLCI closed at 1,614, the lowest since Sept 24, which saw foreign funds emerging as net sellers of RM38.40mil of equities. Local funds were net buyers at RM16.20mil and retail investors, also net buyers at RM22.20mil.

Reuters reported Asian shares inched up on Monday on hopes that Greece can avoid a near-term bankruptcy, with the market focusing on a euro zone finance ministers meeting later in the day, but a regional Spanish vote favouring separatist parties capped gains.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2% to a two-week high.

Among the key regional markets, Japan's Nikkei 225 rose 0.7% to 9,432.25; Hong Kong's Hang Seng Index edged up 0.01% to 21,916.35; Taiwan's Taiex added 1.01% to 7,399.91 and Singapore's Straits Times Index 0.67% higher at 3,009.25.

Shanghai's Composite Index slipped 0.01% to 2,027.12 and South Korea's Kospi eased 0.01% to 1,911.13.

US light crude oil dropped 36 cents to US$87.92 and Brent 26 cents lower at US$111.12. Spot gold fell US$1.41 to US$1,751.59.

The ringgit was firmer against the US dollar at 3.0538 versus the previous close of 3.0603.

Crude palm oil for third-month futures rose RM11 to RM2,406. PPB Group fell six sen to Rm12.04 and Sime three sen to RM9.52 but KLK managed to climb four sen to RM20.68. Genting Plantations rose eight sen to RM8.48.

Among the index-linked stocks, BAT fell the most, down RM2.30 to RM55.66 and wiped out 1.02 points of the KLCI while CIMB fell five sen to RM7.64 and dragged the index down 0.87 of a point and DiGi shed four sen to RM4.60 and pushed the index down 0.72 of a point.

Petronas Gas fell 22 sen to RM18.68, Panasonic Malaysia 60 sen lower at RM20.70, Allianz-PA 29 sen to RM7.40 while Allianz shed 15 sen to RM7.54.

Dutch Lady was down 62 sen to RM44.68 but Calrbsger rose 18 sen to RM12.80.

Used oil recycler Hiap Huat Holdings was the most active on its trading debut with 154.32 million share done, adding nine sen to 29 sen.

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