Blue chips pare losses midday

KUALA LUMPUR: Blue chips pared their losses by midday on Tuesday, lifted by gains in BCHB and MISC, but the broader market was lower on profit taking after two days of strong gains. Asian markets were mixed.

At 12.30pm, the KL Composite Index was down 3.26 points to 917.4. Turnover was 403.24 million shares valued at RM480mil. There were 139 gainers, 303 losers and 160 counters unchanged.

Among Asian markets, Hong Kong’s Hang Seng Index fell 1.13% or 176 points to 15,387.27 and Singapore’s Straits Times Index shed 1.03% to 1,905. However, the Nikkei 225 rose 0.34% to 9,074.14 and Shanghai’s A Share Index added 1.82% to 2,010.72.

Crude palm oil futures rose RM37 to RM1,874 while oil was trading at US$48.75. The ringgit was quoted at RM3.499 to the US dollar.

WCT, whose share price plunged 29.5% or 54 sen to RM1.29 in early trade, was suspended at 9.12am. Trading will resume at 2.30pm.

Tanjong lost 20 sen to RM14, Warisan 19 sen to RM14, SMPC 17 sen to eight sen and Sinora 14 sen to 41 sen. Genting lost 14 sen to RM3.82 and Naim 11 sen to RM1.44.

Bursa and Public Bank gave up 10 sen each to RM5.70 and RM8.70 respectively while Sime Daerby also lost 10 sen to RM5.60.

However, BCHB added 25 sen to RM6.60, MISC and EON Cap 10 sen each to RM8.75 and RM3.40. Ranhill added 7.5 sen to 86 sen and AIRB, which is being taken over by Ranhill, jumped 15 sen to 90 sen.

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