KUALA LUMPUR: The FBM KLCI has extended its losses at midday on Thursday as Tenaga continued to drag the index nearly 13 points down, coupled with concerns on Greece and the uncertain oil price.
At 12.30pm, the KLCI fell 12.77 points to 1,786.18. Turnover was 910.7 million shares valued at RM1.27bil. There were 249 gainers, 381 decliners and 295 counters unchanged.
According to Bloomberg, Iraq, Kuwait and Iran joined Saudi Arabia in cutting their March crude prices for Asia, signaling the battle for a share of OPEC’s largest market is intensifying.
The cuts come after Saudi Arabia, the largest crude exporter, reduced pricing to Asia last week to the lowest in at least 14 years, it said.
Meanwhile, on the local front, JF Apex Research said in a note that the index's rebound rally since December came to a halt after failing to break the resistance of 1830 points.
"We expect the index to continue hover around 1,800 points with a negative bias due to concern on Greece and oil price," it added.
At Bursa Malaysia, Tenaga fell 70 sen to RM13.70.
PetDag fell 88 sen to RM17.22 and PetGas 20 sen to RM21.58.
UME fell 14 sen to RM10.96 and HLFG 10 sen to RM16.78.
BAT fell RM1.32 to RM68.24 and Dutch Lady
22 sen to RM47.
Gainers were Po Huat, up 12 sen to RM2.07 and Takaful 36 sen to RM11.82.
Nikkei 225 rose 1.84% to 17,976.69
Hong Kong Hang Seng Index rose 0.59% to 24,458.35
Shanghai Stock Exchange Composite Index fell 0.15% to 3,153.02
Taiwan Stock Exchange Weighted Index rose 0.03% to 9,465.35
Korea Stock Exchange KOSPI Index fell 0.4% to 1,937.89 -
Straits Times Index STI fell 0.78% to 3,417.82
Crude Oil (WTI) rose 59 cents to US$49.43
Crude Oil (Brent) rose 38 cents to US$55.04
Gold Spot rose US$2.29 to US$1,221.12
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