Blue chips down, weighed by KLK, BCHB

KUALA LUMPUR: Blue chips fell in the morning session Wednesday, weighed by KL Kepong, BCHB and Genting’s losses while Golden Plus gave up some of the recent gains following Bursa Securities’ caution to investors.

IOI Corp was the most active traded stock with 6.95 million shares done; it fell 10 sen to RM7.10.

There were some concerns among investors about the departure of Datuk Yeo How, the group executive director for finance and corporate affairs but fund managers said IOI Corp had a strong management team to run the group.

At 12.30pm, the KL Composite Index fell 8.37 points to 1,265.87, the FBM Emas lost 59.79 points to 8,483.26 and the FBM Second Board declined 46.21 points to 5,755.55.

Turnover was 166.7 million shares valued at RM404.8mil. There were 152 gainers, 372 losers while 218 counters were unchanged.

Asian markets were mixed, with Japan’s Nikkei 225 down 0.95% to 13,761.21 and Hong Kong’s Hang Seng Index easing 0.33% to 24,203.1 but Shanghai’s A Share Index gained 0.32% to 3,553.14 and Singapore’s Straits Times Index just up 0.01% to 3,115.77.

Light crude oil was US$128.94 (RM417.76) per barrel while crude palm oil futures fell RM45 to RM3,685. The ringgit was quoted at RM3.24 to the US dollar.

At Bursa, stocks came under some selling pressure, led by Parkson, which fell 30 sen to RM6.25. Shell lost 30 sen to RM11.20, Petronas Gas and Petronas Dagangan 20 sen each to RM10 and RM8.30.

Tradewinds fell 20 sen to RM5 while BCHB lost 15 sen to RM9.35. KL Kepong gave up 20 sen to RM17.50 while Genting fell 10 sen. Golden Plus lost 12 sen to RM2.12 in active trade.

Nestle was the top gainer, up 25 sen to RM30 while Tanjong, BToto and KNM added 10 sen each to RM16.10, RM5.19 and RM6.45 respectively.

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