Genting drives KLCI lower

  • Business
  • Wednesday, 20 Nov 2013

KUALA LUMPUR: The FBM KLCI gave up most of its gains on Wednesday’s close weighed by Genting, PetChem and KL Kepong as investors took profit after most key heavyweights rose on Tuesday.

At 5pm, the KLCI fell 8.47 points to 1,798.69. Turnover was 1.79 billion valued at RM2.311bil. There were 246 gainers, 562 decliners and 328 counters unchanged.

Reuters reported Asian shares mostly tracked Wall Street stocks lower on Wednesday but dovish comments from Federal Reserve Chairman Ben Bernanke helped to limit their losses, lifting commodity prices, and putting pressure on the dollar.

It said Chinese policymakers set the yuan's midpoint at the highest level since the 2005 revaluation, a day after China's central bank said it would gradually withdraw from regular intervention in the foreign exchange market.

At Bursa Malaysia, consumer stocks were mixed with BAT down RM1.38 to RM62.08, Nestle 60 sen to RM68.80 and Carlsberg 24 sen to RM11.80 but GAB rose 26 sen to RM16.36.

Crude palm oil rose RM31 but KL Kepong fell 74 sen to RM24, Genting Plantations 22 sen to RM10.98 but BLD Plantations rose 10 sen to RM9.

PetGas rose 28 sen to RM23.88 and KPJ 10 sen to RM6.28.

HLBank fell 26 sen to RM14.04 and UMW 28 sen to RM12.50.

Among the key regional markets,

Japan’s Nikkei 225 fell 0.33% to 15,076.08;

Hong Kong’s Hang Seng Index rose 0.18% to 23,700.86;

Shanghai’s Composite Index rose 0.62% to 2,206.61;

Taiwan’s Taiex fell 0.67% to 8,204.46;

South Korea’s Kospi fell 0.71% to 2,017.24;

Singapore’s Straits Times Index fell 0.26% to 3,183.93.

US light crude oil rose 16 cents to US$93.50 and Brent rose 23 cents to US$107.15.

Spot gold fell US$3.72 to US$1,272.


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