KUALA LUMPUR: Profit taking of Axiata after the recent rally weighed on the FBM KLCI on Friday while the broader market showed signs of caution ahead of the extended weekend.
At 5pm, the KLCI was down 2.33 points or 0.14% to 1,641.42. Turnover was 1.24 billion shares valued at RM1.41bil. There were 414 gainers, 306 losers and 366 counters unchanged.
The ringgit weakened against the US dollar but it firmed up against several major currencies. The ringgit slipped 0.05% to 4.4245 from the previous close of 4.4222 the previous day. However, it was higher against the pound sterling to 5.5721 from 5.6046, firmed up against the Singapore dollar to 3.1080 from 3.1224 and advanced against the Euro to 4.6977 from 4.7722.
World stocks were set for a weekly gain and held near 16-month highs on Friday, while the euro steadied after swings following the European Central Bank's decision to extend its stimulus programme, Reuters reported.
Russia plans to meet with some OPEC and non-OPEC nations on Friday to discuss unresolved issues related to a planned oil-output cut before wider talks the following day in Vienna, a Russian government source told Reuters.
US light crude oil rose 37 cents to US$51.21 and Brent advanced 33 cents to US$54.22.
Petronas Gas was the top performer among the KLCI stocks, up 36 sen to RM21.64 and pushing the KLCI up 1.21 points. However, Petronas Dagangan fell six sen to RM23.40 and Petronas Chemical shed three sen to RM6.87. SapuraKencana rose three sen to RM1.58.
As for telcos, Axiata fell eight sen to RM4.56 and erased 1.22 points from the KLCI, also down eight sen was Telekom to RM6.03, Digi was flat at RM4.99 but Maxis rose four sen to RM6.09.
Consumers stocks fell with Heineken down 34 sen to RM16.54, F&N 26 sen lower at RM23.14 while Carlsberg lost 20 sen to RM13.94 and BAT gave up 18 sen to RM44.80. Dutch Lady
bucked the trend to add 20 sen to RM55.58.
Crude palm oil for third month delivery extended its slide, down RM41 to RM3,072 per tonne.
United Plantations fell the most, down 52 sen to RM26.46 and KL Kepong was down 18 sen to RM23.88, PPB Group 12 sen lower at RM15.88, IOI Corp shed one sen to RM4.39 while Sime Darby was flat at RM8.14.
Among the banks, AmBank fell five sen to RM4.40. RHB Bank one sen lower to RM4.82, Public Bank was flat at RM19.62 while CIMB and Maybank rose one sen each to RM4.65 and RM7.91.
Insure Allianz attracted strong buying interest, up 27 sen to RM9.90. Building materials Hume Industries rose 19 sen to RM3.10, Lafarge added 17 sen to RM7.62 while Kimlun rallied 13 sen to RM2.20 and White Horse 10 sen higher at RM2.10.
AirAsia rose two sen to RM2.55 in active trade while AirAsia X eked out a one sen gain to 38 sen and its call warrants C2 added 0.5 sen to five sen.
Spot gold rose 29 cents to US$1,171.07 per ounce.
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