KUALA LUMPUR: Malaysia’s blue chips ended nearly one point down on Monday amid a lacklustre market in line with the regional markets as investors stayed on the sidelines due to the concerns about a possible US debt default.
At 5pm, the FBM KLCI was down 0.99 of a point or 0.06% to 1,784.76. Turnover was 1.32 billion shares valued at RM1.04bil. There were 309 gainers, 419 losers and 303 counters unchanged.
Among the major decliners were BAT, plantation stocks including PPB Group and Batu Kawan and SapuraKencana Petroleum.
Reuters said market sentiment was dampened by slow-moving talks to avoid a debt default in the US and weak Chinese export data kept a lid on European shares and oil on Monday. The yen rose as some investors moved into safer assets.
The report said Senate negotiations to resolve the U.S. fiscal crisis made progress on Sunday and, while there no guarantees of an end to the government shutdown, many in the market remain hopeful a deal to raise the borrowing ceiling will emerge.
At Bursa Malaysia, the ringgit weakened against the US dollar ro 3.1805 from RM3.1788 the previous day.
BAT fell the most, down 54 sen to RM62.84 with 24,200 shares done. It erased 0.27 of a point from the KLCI.
Crude palm oil for third-month delivery fell RM7 to RM2,373. Batu Kawan fell 28 sen to RM18.50, PPB 14 sen to RM14.26, KL Kepong eight sen to RM22.80 but IOI Corp edged up three sen to RM5.38. FGV was flat at RM4.24.
Among the banks, RHB Cap lost six sen to RM7.57 but Public Bank rose four sen to RM18.24 and AMMB added two sen to RM7.48.
Petronas Dagangan was down 20 sen to RM29.20 and Petronas Chemicals two sen to RM7.04. SapuraKencana shed three sen to RM3.82.
Glove maker Top Glove fell 20 sen to RM5.95. GDex fell15 sen to RM3.03 on profit taking while its warrants lost 13 sen to RM2.42.
Among the gainers were UMW, rising 20 sen to RM12.26 and lifted the KLCI 0.47 of a point while Tenaga’s five sen gain to RM9.10 pushed the index up 0.55 of a point.
Among the key regional markets,
Shanghai’s Composite Index rose 0.43% to 2,237.77;
Taiwan’s Taiex fell 0.9% to 8,273.96;
South Korea’s Kospi fell 0.23% to 2,020.27 and
Singapore’s Straits Times Index fell 0.45% to 3,165.25.
US light crude oil rose 37 cents to US$102.39 but Brent fell 11 cents to US$111.17.
Spot gold rose US$3.19 to US$1,275.39.