DiGi, MPI and Parkson lead market lower

KUALA LUMPUR: DiGi, MPI and Parkson led the market lower in the morning session Monday as investors stayed on the sidelines awaiting fresh leads after the deluge of earnings reports for the quarter ended March 31.

Golden Plus shares could see trading activity after Bursa Malaysia Securities rejected its request for more time to submit its first quarter results ended March 31. Trading will start in the afternoon session after its voluntary suspension in the morning session.

At 12.30pm, the KLCI fell 8.32 points to 1,267.78 while the FBM Emas gave up 55.47 points to 8,464.15 and the FBM Second Board declined 15.66 points to 5,770.57.

Turnover was 176.4 million shares valued at RM381.9mil. There were 137 gainers, 386 losers while 215 counters were unchanged.

Asian markets were higher at midday, with Hong Kong’s Hang Seng Index up 1.27% or 310.4 points to 24,843.52, Straits Times Index up 0.38% to 3,204.86, Japan’s Nikkei 225 0.19% to 14,365.47 and Shanghai’s A Share Index 0.57% advanced 0.57% to 3,623.38.

Light crude oil was trading at US$127.44 (RM410.86) per barrel while crude palm oil futures rose RM47 to RM3,545 per tonne. The ringgit was quoted at RM3.224 to the US dollar.

At Bursa Malaysia, last Friday’s rebound almost fizzled out with DiGi falling RM1.50 to RM25, MPI 55 sen to RM7.30 while Parkson fell 25 sen to RM5.85 and IJM gave up 20 sen to RM5.55.

Media Prima lost 16 sen to RM2.18 despite news that Harris Associates LP of Chicago had raised its shareholding to 46.57 million shares after buying 4.79 million shares from May 23 to 28.

Gamuda, which came under heavy selling pressure on concerns about its Vietnam property projects, rose eight sen to RM2.53. However, Berjaya Land, which also has projects in the country, lost 22 sen to RM4.88.

Among the big capitalised stocks, Telekom rose eight sen to RM3.18 and Genting five sen higher to RM6.20. However, Sime Darby fell 10 sen to RM9.40, Maybank and Tenaga five sen each to RM7.45 and RM7.

BAT was the top gainer, rising 50 sen to RM44 while Dutch Lady gained 30 sen to RM12.70. Kulim and its warrants rose 25 sen each to RM9.35 and RM6.75. HELP gained 12 sen to RM1.44.

Several plantation stocks were on the top 20 gainers list, with Kurnia Sertia adding 14 sen to RM2.66, Negri Sembilan Oil Palms and Far East rising 10 sen each to RM RM4.78 and RM7.20 respectively.

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