KUALA LUMPUR: Shares of Genting Bhd
and its plantation unit Genting Plantations were among the top losers at the midday break on Friday while the FBM KLCI continued to slide, tracking the declines overseas.
At 12.30pm, the KLCI was down 6.5 points or 0.41% to 1,596.25. Turnover was 1.04 billion shares valued at RM644.09mil, reflecting the low quality of trading.
The broader market was weaker with decliners beating advancers 355 to 252 while 285 counters were unchanged.
There was no respite for the ringgit which continued to weaken against the US dollar, pound sterling and Singapore unit. It was at 4.2640 to the US dollar from the previous close of 4.2485; quoted at 6.4943 to the pound sterling from 6.4809 and at 3.0064 to the Singapore dollar from 2.9999.
Genting Plantation’s warrants, GenP-WA fell the most, down 26 sen to RM1.90 while the shares were down 18 sen to RM9.70. Genting Bhd fell 13 sen to RM7.02.
Crude palm oil for third month delivery rose RM5 to RM2,037 at midday, off the recent low of RM1,867 on Aug 26.
Batu Kawan, another plantation company, saw its shares fall 16 sen to RM17.64. It is the largest shareholder in KL Kepong. KL Kepong rose six sen to RM21 while PPB Group edged up two sen to RM15.20.
Even favourites Karex and Top Glove came under continued profit taking. Both companies’ share price had managed to buck the market as their rubber products were exported and benefited from the weakening ringgit against the major currencies.
Karex, a condom maker, and glove maker, Top Glove, fell 14 sen each to RM3.17 and RM7.89.
Among the banks, AmBank extended its decline by another eight sen to RM4.32. CIMB lost nine sen to RM4.86, RHB Capital dive sen to RM6.11 and Maybank and Public Bank shed two sen each to RM8.45 and RM17.72.
US light crude oil fell 58 cents to US$46.17 and Brent 48 cents lower at US$50.20.
Petronas Dagangan and SapuraKencana were flat at RM21 and RM1.77 whiule Petronas Chemicals lost three sen to RM6 and Petronas Gas lost six sen to RM21.34.
However, consumer stocks Dutch Lady and BAT managed to buck the trend. Dlady rose 76 sen to RM46.88 and BAT 20 sen higher at RM61.30.
Favelle Favco rose 10 sen to RM2.40 while its major shareholder Muhibbah added nine sen to RM1.93.
Among the key regional markets,
Japan’s Nikkei 225 fell 2.3% to 17,764.55;
Hong Kong’s Hang Seng Index lost 0.6% to 20,809.50;
Taiwan’s Taiex fell 0.88% to 8,024.32;
South Korea’s Kospi fell 1.41% to 1,888.50;
Singapore’s Straits Times Index fell 1.47% to 2,863.82;
Spot gold fell 69 cents to US$1,24.77.
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