KUALA LUMPUR: Blue chips fell early Tuesday, tracking the cautious overseas markets while crude oil prices fell, with the FBM KLCI down nearly seven points on selling of Genting Bhd
, Bursa and Axiata.
At 9.21am, the KLCI was down 6.85 points or 0.41% to 1,661.41. Turnover was 213.37 million shares valued at RM75.38mil. There were 115 gainers, 161 losers and 197 counters unchanged.
On Monday, foreign funds were net buyers at RM29.96mil while local institutions joined in the buying but at a smaller scale of RM18.51mil. Retail investors were net sellers at RM48.47mil.
Reuters reported caution gripped Asian markets on Tuesday, sending the safe-haven yen higher ahead of central bank meetings in the United States and Japan, while a fresh skid in oil dampened energy stocks on Wall Street.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2%. Japan's Nikkei shed 1%, with investors seemingly unimpressed by a Nikkei report the government planned a direct fiscal stimulus of around 6 trillion yen (US$56bil) over the next few years.
Oil prices fell to two-and-a-half month lows amid worries that a global glut of crude and refined products would weigh on markets for some time, Reuters reported.
Brent crude futures closed down 2.12% to settle at US$44.72 a barrel, while U.S. crude settled down 2.40% at US$43.13 a barrel.
At Bursa, KL Kepong fell 22 sen to RM23.00 with 100 shares done while PPB Group lost 12 sen to RM15.94.
Petronas Gas was down 12 sen to RM15.94, Genting also fell 12 sen to RM8.80 while Axiata gave up seven sen to RM5.71.
CCB fell 23 sen to RM3.25 with 77,800 shares done after posting weaker earnings.
Among the glove makers, Hartalega fell seven sen to RM4.42 but Top Glove gained four sen to RM4.38.
Kerjaya gained eight sen to RM2.52 and its warrants seven sen higher at RM1.55 on rising positive prospects.
Bina Puri jumped three sen to 44 sen in active trade after its 30:70 JV with Cahya Mata Sarawak won a RM1.36bil Pan Borneo Highway job in Sarawak.
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