KUALA LUMPUR: Shares of MISC and Hong Leong Financial Group weighed on blue chips at midday on Thursday as the broader market weakened, in line with the cautious key regional bourses ahead of the US presidential elections on Nov 8.
At noon, the KLCI was down 4.47 points or 0.29% to 1,654.86. Turnover was 746.03 million shares valued at RM725.33mil. There were 202 gainers, 440 losers and 340 counters unchanged.
The ringgit firmed up against a weakening US dollar to 4.1823 from 4.1870 but fell against the pound sterling to 5.1562 from 5.1422 and slipped against the Singapore dollar to 3.0228 fron 3.0222. It also lost ground against the Euro to 4.6494 fromn 4.6459.
Reuters reported Asia shares joined the US dollar on the defensive on Thursday as the US presidential race saw the S&P 500 suffer its longest losing streak in five years as investors sailed to safer harbours.
Dealers said Asian markets were wary of reading too much into the reports, but there was some precautionary selling of dollars, it added. The dollar currency slipped 0.6% to 102.71 yen, while the euro edged up 0.2% to $1.1116.
At Bursa Malaysia, MISC was the top loser, down 32 sen to RM7.18 with 1.7 million shares done on concerns about its earnings outlook.
Among the consumer stocks, BAT fell 30 sen to RM48.30 but Dutch Lady
added 20 sen to RM59.40.
As for the banks and financial stocks, HLFG was the top loser, down 26 sen to RM15.36 while insurer LPI lost 10 sen to RM16.60. RHB Bank was down eight sen to RM4.67, Hong Leong Bank lost four sen to RM13.08, CIMB three sen lower at RM4.85 and Public Bank shed two sen to RM19.84. Maybank was flat at RM7.81,
Crude palm oil for third month delivery fell RM11 to RM2,747 per tonne. Heavyweight planation player Sime Darby rose seven sen to RM8.18 while FGV rose six sen to RM1.88 on some positive news flow after Monday's tumble.
IOI Corp shed one sen to RM4.39 while KL Kepong and PPB Group four sen each to RM23.86 and RM15.96.
Printer Sasbadi was among the gainers, up nine sen to RM1.45. George Kent gainbed six sen to RM2.70.
US light crude oil rose 40 cents to US$45.74 and Brent 53 cents higher at US$47.39. Enra rose 12 sen to RM2.05 with 5,000 shares done.Petronas Dagangan rose two sen to RM23.32, Petronas Chemicals was down four sen to RM6.96 while Petronas Gas was flat RM22.08. SapuraKencana lost three sen to RM1.55.
As for telcos, Telekom Malaysia and Axiata lost six sen each to RM6.50 and RM4.88, Maxis shed twoi sen to RM5.95 while Digi added three sen to RM5.02.
Gold for the spot month jumoed US$8.97 to US$1,305.78.
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