KUALA LUMPUR: Selling pressure on key blue chips such as Genting Bhd
, Public Bank and Tenaga Nasional pushed the FBM KLCI below the crucial 1,700 level in mate Tuesday trade.
At 3.30pm, the KLCI was down 20.09 points or 1.17% to 1,694.42. Turnover was 2.06 billion shares valued at RM1.39bil.
The broader markets weakened further with decliners beating advancers 751 to 134 while 267 counters unchanged as investors turned more cautious as the ringgit weakened against most major currencies.
Japanese stocks fell on Tuesday as the yen retreated from a three-week low against the U.S. dollar, pruning the profit outlook for major exporters. The Nikkei share average slipped 0.5% to end the day at 17,353.28, Reuters reported.
European shares advanced on Tuesday after some encouraging company results, with pulp and paper maker UPM climbing after better-than-expected quarterly profits while BP also rose, Reuters reported.
At Bursa Malaysia, Globetronics fell the most, down 43 sen to RM4.01 with 24.57 million shares done after posting a weaker set of earnings in the first quarter ended March 31, 2016.
Genting Bhd fell 35 sen to RM9.05, Public Bank 28 sen to RM18.84, Petronas Dagangan 26 sen to RM23.82, Sime Darby and Tenaga 22 sen each to RM7.73 and RM14.28.
Nestle lost 30 sen to RM74.70 in thin trade while BAT was down 24 sen to RM54.48 and F&N 22 sen to RM22.06. GAB added 26 sen to RM14.96 and Dutch Lady added 10 sen to RM53.
Tanah Makmur was up 19 sen to RM1.66 on the takeover at RM1.80 a share.
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