IOI Corp, CIMB and Genting weigh on KLCI

IOI Corp lost 15 sen to RM4.75 with 5.38 million shares done, erasing 1.65 points from the KLCI. IOI Corp reported a set of earnings which were impacted by the volatile foreign currency in the second quarter ended Dec 31. 2015

UMCCA was the top loser, falling 17 sen to RM6.03, Sime Darby lost two sen to RM7.98, PPB Group was down four sen to RM15.96 but KL Kepong gained four sen to RM13.94 and SOP 20 sen higher at RM4.70.

Genting Bhd fell 19 sen to RM8 and erased 1.21 points after its subsidiary Genting Singapore reported a decline in earnings.  Genting Malaysia was flat at RM4.39.

As for oil and gas stocks, Petronas Chemicals shed three sen to RM7 while Petronas Dagangan and Petronas Gas were unchanged at RM25.40 and RM22.50. SK Petro shed two sen to RM1.96.

Among the banks, CIMB was down nine sen to RM4.31 and the losses wiped out 1.3 points from the KLCI, AmBank three sen lower at RM4.50, Hong Leong Bank two sen to RM13.06, Maybank shed one sen to RM8.63 but Public Bank edged up four sen to RM18.30.

MISC was up 15 sen to RM9.05 in active trade and pushed the KLCI up 1.14 points while power giant Tenaga gained four sen to RM13.26.

Stretch film manufacturer Scientex fell 14 sen to RM10.78 while CI Holdings and Cepco lost 12 sen to RM2.77 and RM1.89.

Among the consumer stocks, Nestle fell 66 sen to RM74.44 but F&N gained 20 sen to RM19.90.

Scomi jumped three sen to 18 sen with 33.48 million shares done as investor sentiment perked up as IJM Corp emerged as a major shareholder.

Anzo climbed 3.5 sen to 24.5 sen with 30.56 million shares done prompting a query from Bursa Securities over the unusual market activity. Anzo is formerly Harvest Courts.

My EG Services fell 10 sen to RM2.06 after the government decided to suspend the recruitment of all foreign workers to Malaysia, including those from Bangladesh. MyEG was to have handled the illegal immigrant rehiring programme.

Among the key regional markets,

Japan’s Nikkei 225 fell 1.42% to 15,967.17;

Hong Kong’s Hang Seng Index shed 0.4% to 19,285.50;

Shanghai’s Composite Index eased 0.1% to 2,860.02;

Taiwan’s Taiex gained 0.12% to 8,325.04;

South Korea’s Kospi rose 0.39% to 1,916.24; and

Singapore’s Straits Times Index shed 0.03% to 2,656.87.

Spot gold lost US$8.94 to US$1,221.93.