KUALA LUMPUR: PPB Group, Genting Bhd
and WCT Holdings were among the biggest losers early Thursday on profit taking and corporate news while the Ringgit fell against the stronger US dollar.
At 10.01am, the KLCI was down 1.12 points or 0.07% to 1,663.90. Turnover was 481.74 million shares valued at RM223.91mil. There were 231 gainers, 175 losers and 279 counters unchanged.
The dollar inched up against the yen and kept broad gains against other major peers early on Thursday, after rebounding sharply overnight on comments by Federal Reserve Janet Yellen suggesting US interest rates could be raised quickly this year, Reuters reported.
The dollar's rise, however, was tempered as traders were cautious ahead of US President-elect Donald Trump's inauguration on Friday.
The ringgit weakened 0.18% on the day to 4.4510 from the previous close of 4.4430.
Kenanga Investment Bank Research said lingering uncertainties persist over the President-elect Donald Trump’s policies entering into his inauguration day on Friday.
“Thus, upside is likely to be capped at 1,680 (R2) in the immediate term, while we expect a rather muted trade to close the week. Immediate resistance is seen at 1,667 (R1), while downside supports are noted at 1,657 (S1)/1,640 (S2),” it said.
BAT fell 28 sen to RM44.68 and PPB Group was down 18 sen to RM16.08 while WCT lost 10 sen to RM1.78. Globetronics and Genting lost six sen each to RM3.87 and RM8.27. Astro shed five sen to RM2.72.
AirAsia continued its advanced seven sen to RM2.70 in active trade. SILK Holdings gained 5.5 sen to 46 sen after the sale of its concession asset to Permodalan Nasional Bhd for RM380mil cash.
Nestle was the top gainer, up 58 sen to RM74.80 with 100 shares done and Heineken gained 12 sen to RM16.04 and Carlsberg edged up six sen to RM14.
Shell added six sen to RM2.58 which was a steep increase over the takeover price of RM1.92.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
