KUALA LUMPUR: Late selling of Genting Bhd and Maybank pushed the FBM KLCI into the red on Tuesday amid the mixed broader market while crude oil prices inched up.
At 5pm, the KLCI was down 3.54 points or 0.21% to 1,678.06. It is down 0.85% year-to-date and slipping further away from the key 1,700 touched earlier in the month.
Turnover was two billion shares valued at RM2.26bil. There were 409 gainers, 419 losers and 371 counters unchanged.
On the external front, Hong Kong shares bounced on Tuesday amid doubts the Federal Reserve would raise interest rates as soon as September.
The ringgit weakened against the US dollar to 4.0490 from 4.0452 and slipped against the Euro to 4.5274 from 4.5266. However, it was firmer aganst the pound sterling at 5.2966 from 5.2984 and rose against the Euro to 4.5274 from 4.5266.
At Bursa, Genting lost 20 sen to RM7.80 and erased 1.28 points from the KLCI. A news report said at least one investment bank might was understood to have pitched to the group on a potential block trade of its stake in Star Entertainment Group in the past week.
Quoting sources, AFR reported that Genting holds a 6.6% stake in Star Entertainment, which was previously known as Echo Entertainmen. It has been approved to purchase up to 23 per cent.
Consumers stocks were mixed, with BAT the top loser of the day, sliding 54 sen to RM49.22 and Carlsberg lost 30 sen to RM14.70. However, Dutch Lady rose 64 sen to RM59.20 and Nestle gained 34 sen to RM78.84.
As for banks, Maybank's eight sen fall to RM7.82 erased 1.36 points from the KLCI while Hong Leong Bank lost four sen to RM13.08 and AmBank three sen to RM4.39 while CIMB was flat at RM4.809. Public Bank gained two sen to RM19.80 and RHB Bank added seven sen to RM5.
US light crude oil rose 39 cents to US$47.37 and Brent added 36 cents to US$49.62. Petronas Dagangan added 24 sen to RM23.40 and Petronas Gas eight sen higher at RM22.29 while Petronas Chemicals edged up one sen to RM6.69. SK Petro fell six sen to RM1.58.
UMW lost 28 sen to RM5.57, Tenaga fell four sen to RM14.74, Genting Malaysia shed one sen to RM4.44 and MISC was flat at RM7.56. Astro rose seven sen to RM2.95 and added 0.62 of a point to the KLCI.
Furniture maker Latitude Tree lost 30 sen to RM4.80 while poultry company Lay Hong was down 25 sen to RM9.50.
Crude palm oil for third month delivery rose RM8 to RM2,525. FGV's turnaround in its financial results saw its share price charge up 17 sen to RM2.27 while its call warrants C15 added 5.5 sen to 28.5 sen.
PPB Group added 10 sen to RM16.08, KL Kepong six sen to RM23.58, Sime Darby two sen to RM7.89, IOI Corp one sen higher at RM4.42.
As for telcos, Maxis fell five sen to RM6.28, Telekom four sen lower at RM6.84, Axiata lost one sen to RM5.49 but Digi added one sen to RM5.02.