KLCI flat in lacklustre trade


  • Markets
  • Monday, 09 Jun 2014

KUALA LUMPUR: Malaysia's key FBM KLCI ended flat in lacklustre trade at midday on Monday on mild selling pressure on Petronas linked stocks, banks and Astro.

 

At 12.30pm, the FBM KLCI was down 0.27 of a point to 1,862.43. Turnover was 536.22 million shares valued at RM420.83mil. There were 257 gainers, 336 losers and 304 counters unchanged.

 

The KLCI and South Korea's Kospi were the only key markets in the red, underperforming the key regional bourses.

 

Foreign fund flow into Malaysian equities had shrunk in the week ended June 6. MIDF Equities Research said in line with the trend elsewhere in Asia, the flow of foreign portfolio fund into Malaysia declined significantly last week.

 

"Foreign investors bought only RM20mil worth of stocks listed on Bursa last week, the lowest when the investors were in a purchasing mode this year. Still, it was the seventh consecutive week of foreign buying in the open market (i.e excluding off-market deals).

 

At Bursa Malaysia, Petronas Dagangan fell 30 sen to RM23.84 and Petronas Gas six sen to RM24.20 while Petronas Chemicals shed one sen to RM6.77. They erased a combined 0.6 of a point from the KLCI.

 

Among the oil and gas SapuraKencana Petroleum fell three sen to RM4.01 and it was the main drag on the KLCI when it erased 0.41 of a point.

 

Astro lost six sen to RM3.41 while Maxis was three sen lower at RM6.69.

 

As for the banks, RHB Cap lost five sen to RM8.39,while Public Bank shed two sen to RM20.76 and CIMB one sen to RM7.20.
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