Profit taking of PetChem, IOI drive KLCI lower

  • Business
  • Wednesday, 11 Dec 2013

KUALA LUMPUR: Profit taking of PetChem and IOI Corp dragged the FBM KLCI marginally lower at midday on Wednesday, mirroring the weaker broader market and Asian equities.

At 12.30pm, the KLCI was down 0.48 of a point to 1,843.37. Turnover was 540.24 million valued at RM809.79mil. There were 280 gainers, 338 decliners and 307 counters unchanged.

Reuters reported Asian share markets were idling through another indecisive session on Wednesday as investors booked profits on a range of once-crowded positions, sending the dollar and Wall Street lower, while lifting the euro, bonds and gold.

It said news that US budget negotiators had reached a two-year deal to avoid another government shutdown should be a relief to markets globally, but perhaps not enough to brighten the year-end blues.

At Bursa Malaysia, PetChem fell 15 sen to RM6.85 and UMW 10 sen to RM12.20.

Crude palm oil rose RM2 to RM2,641 but plantation stocks fell with Genting Plantations down 32 sen to RM11, IOI Corp 13 sen to RM5.80 and KL Kepong 10 sen to RM24.26.

BAT rose 70 sen to RM64.20, Naim 14 sen to RM3.79 and DRBHcom 13 sen to RM2.86.

The ringgit strengthened against the dollar at 3.2078 from 3.2080 the previous close.

Among the key regional markets,

Japan’s Nikkei 225 fell 1.23% to 15,419.83;

Hong Kong’s Hang Seng Index fell 1.24% to 23,448.71;

Shanghai’s Composite Index fell 1.14% to 2,211.88;

Taiwan’s Taiex fell 0.26% to 8,421.28;

South Korea’s Kospi fell 0.62% to 1,981.10;

Singapore’s Straits Times Index fell 0.32% to 3,071.88.

US light crude oil fell six cents to US$98.45 and Brent four cents to US$109.34.

Spot gold fell US$5.54 to US$1,256.65.



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FBM KLCI , Bursa Malaysia , IOI Corp , PetChem


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