Ringgit hits fresh 2009 low; Tenaga, PetChem weigh down KLCI


  • Markets,Oil & Gas,Plantations
  • Thursday, 29 Jan 2015

KUALA LUMPUR: Malaysia’s FBM KLCI closed down nearly 0.8% on Thursday, mirroring the weak investor sentiment in key Asian markets while the ringgit continued to lose ground against the US dollar.

At 5pm, the KLCI was down 13.7 points or 0.76% to 1,782.18 – mainly due to losses in Tenaga Nasional, Petronas Chemicals, Sime Darby and MISC.

Turnover on Bursa Malaysia was 1.88 billion shares valued at RM2.23bil. Losers beat gainers 581 to 262 while 301 counters were unchanged.

Investor sentiment was dented by the weak ringgit against the US dollar and the fall in crude palm oil (CPO) prices in line with the slump in crude oil.

The ringgit was quoted at 3.6285, a new low since 2009, from the previous day’s close of 3.6185.

Tenaga fell 24 sen to RM14.56 and wiped out 2.33 points from the KLCI. The decline was due to profit taking after the recent rally in the share price and also after Khazanah Nasional disposed of 112 million shares in an off-market deal at RM14.50 each totalling RM1.624bil.

Among the banks, AmBank fell 27 sen to RM6.30 in line with the weak market and also on confirmation Ashok Ramamurthy was stepping down as group managing director in due course to rejoin his family in New Zealand where he would resume his career at ANZ.

HLFG fell the most, down 66 sen to RM16.50, Hong Leong Bank fell 20 sen to RM14, Public Bank and CIMB six sen each to RM18.08 and RM5.50 while Maybank eased three sen to RM8.66.

US crude oil rose four cents to US$44.49 but since June last year, it was down more than 50% when it was then trading at US$100. Brent added 24 cents to US$48.71.

Petronas Chemicals fell 19 sen to RM5.13 RM5.13 and wiped out 2.62 points while Petronas Gas shed two sen to RM22.20. However, Petronas Dagangan added 12 sen to RM17.72.

CPO for third month delivery lost RM48 to RM2,162, tracking the fall in crude oil prices. IJM Plantations lost 20 sen to RM3.48, Sime Darby 15 sen to RM9.40, IOI Corp six sen to RM4.74 but KL Kepong inched up two sen to RM23.02.

LPI Capital jumped RM2.16 to RM20.66 following its strong FY14 earnings, dividends and also proposed one-for-two bonus issue.

Integrax added 14 sen to RM2.90 on investor expectations of dividends. 

Among the key regional markets,

Japan’s Nikkei 225 fell 1.06% to 17,606.22;

Hong Kong’s Hang Seng Index fell 1.07% to 24,595.85;

Shanghai’s Composite Index fell 1.31% to 3,262.30;

Taiwan’s Taiex lost 0.88% to 9,426.90;

South Korea’s Kospi fell 0.54% to 1,951.02 and

Singapore’s Straits Times Index unchanged at 3,419.05.

Spot gold fell US$7.62 to US$1,276.88.

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