KUALA LUMPUR: Funds stepped up selling pressure on banks, IHH Healthcare and Genting Bhd
while the ringgit weakened against selected major currencies while the broader market was weak on concerns about domestic issues.
At midday, the KLCI was down 7.02 points or 0.42% to 1,662.59. Turnover was 918.32 million shares valued at RM574.44mil. Decliners beat advancers three to one, with 511 losers to 157 gainers while 317 counters were unchanged.
The ringgit weakened against the key currencies as it slipped to 4.0568 against the US dollar from 4.0297 and was weaker at 5.3677 to the pound sterling from 5.3020. It was at 2.9885 to the Singapore dollar from 2.9666 and slipped to 4.4745 against the euro from 4.4335.
Among the banks and finance stocks, HLFG fell the most, down 22 sen to RM15.44 on profit taking while Hong Leong Bank was down 14 sen to RM13.26. Maybank fell six sen to RM8.06 and erased nearly one point from the KLCI, Public Bank shed two sen to RM19.54 and CIMB was flat at RM4.24.
UMW was down 14 sen to RM5.62 and Genting was down 11 sen to RM8.92. IHH Healthcare fell 10 sen to RM6.50 and wqiped out 1.35 points from the KLCI.
Crude palm oil for third-month delivery rose RM9 to RM2,356 per tonne. As for plantations, Genting Plantations fell the most, down 20 sen to RM10.50, PPB Group was down 18 sen to RM16.08 – its second day of losses after its associate Wilmar warned about losses in the second quarter ended June 30. Sime Darby saw five sen erased from its share price.
US light crude oil rose 15 cents to US$45.90 and Brent gained 18 cents to US$47.35. Petronas Gas fell six sen to RM2.22, Petronas Chemicals two sen to RM6.61 and Petronas Dagangan was flat at RM23.50.
Dancomech ended the morning at 80 sen, a premium of five sen to its offer price of 75 sen in active trade.
Among the consumer stocks, BAT added 56 sen to RM55.06, F&N rose 18 sen to RM26.26 while Dutch Lady was up 10 sen to RM61.80. Nestle fell 30 sen to RM79.60.
Panasonic Malaysia regained its bounce, up 20 sen to RM34.50 while CCB edge dup nine sen to RM3.25.
SAM Engineering rebounded , up 21 sen to RM7.83 while PIE and MPI rose nine sen each to RM2.28 and RM7.89.
Among the key regional markets,
Japan’s Nikkei 225 rose 0.66% to 16,792.15;
Hong Kong’s Hang Seng Index rose 0.71% to 22,037.43;
CSI 300 gained 0.89% to 3,266.30;
Shanghai’s Composite Index added 0.69% to 3,048.75;
Shenzhen Composite rose 0.68% to 2,049.60;
Hang Seng China Enterprise added 0.64% to 9,080.52;
Taiwan’s Taiex rose 0.55% to 9,057.67,
South Korea’s Kospi fell 0.16% to 2,012.16 and
Singapore’s Straits Times Index shed 0.16% to 2,940.93.
Spot gold fell US$1.23 to US$1,314.82.
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