KLCI ends week lower, Petronas counters weigh

KUALA LUMPUR: The FBM KLCI ended Friday in the red despite a last minute push, as Petronas-linked stocks weighed the counter in line with the weaker Asian and European market.

At 5pm, the KLCI was down 2.13 points to 1,804.48. Turnover was 1.92 billion valued at RM1.903bil. The broader market, however, was firmer with 404 gainers, 354 decliners while 330 counters were unchanged.

Reuters reported frenzied buying in Twitter shares grabbed Wall Street's attention on Thursday, as the social media stock surged well above expectations, while major indexes fell, with the S&P 500 suffering its worst daily decline since August.

It said the broader market was hurt by weak earnings from Whole Foods and Qualcomm. The tech-heavy Nasdaq index recorded its biggest daily decline in a month.

At Bursa Malaysia, PetGas fell 40 sen to RM23.88 and PetChem 27 sen to RM6.83.

Consumer stocks fell with Dutch Lady down 40 sen to RM46.60 and BAT 74 sen to RM63.10.

Crude palm oil fell RM29 to RM2,515. PPB Group was down 22 sen to RM14.06.

Gainers were Karex, up 25 sen to RM2.75, SKPetro 19 sen to RM4.31 and Barakah 12 sen to RM1.10.

The ringgit strengthened against the dollar at 3.1808 from 3.1827 the previous close.

Among the key regional markets,

Japan’s Nikkei 225 fell 1% to 14,086.8;

Hong Kong’s Hang Seng Index fell 0.60% to 22,744.39;

Shanghai’s Composite Index fell 1.09% to 2,106.13;

Taiwan’s Taiex fell 0.65% to 8,229.59;

South Korea’s Kospi felll 0.96% to 1,984.87;

Singapore’s Straits Times Index fell 0.82% to 3,175.86.

US light crude oil rose four cents to US$94.25 but Brent fell five cents to US$103.41.

Spot gold rose US$2.18 to US$1,309.81.


Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Next In Business News

VS Industry on track to beat projections for FY21
Trading ideas: BCorp, Axiata, TRC, UWC, VS Industry
EXPLAINER-Why is India losing sleep over record high palm oil and other vegetable oil prices
Palm price gains more than 6% on bargain-hunting, soyoil strength
US IPOs hit annual record in less than six months
Wall Street ends down as data spooks investors awaiting Fed report
Oil up nearly 2% to multi-year highs on demand expectations
BCorp goes on consumer path
Emirates gets government aid after pandemic leads to huge loss
Solid comeback by banks

Stories You'll Enjoy