Blue chips dip early Wednesday, Maxis extends decline

  • Business
  • Wednesday, 21 Jun 2017

KUALA LUMPUR: Blue chips fell early Wednesday as the FBM KLCI extended its decline on llosses by Maxis, MISC and Petronas Dagangan.

At 9.33am, the KLCI was down 2.62 points or 0.15% lower at 1,778.09. Turnover was 226.57 million shares valued at RM114.67mil. There were 155 gainers, 234 losers and 246 counters unchanged.

Oil prices held around multi-month lows in early Asian trading on Wednesday as investors discounted evidence of strong compliance by Opec and non-Opec oil producers with a deal to cut global output.

Brent was down 6 cents at US$45.96 barrel at 0035 GMT. US crude futures for August were trading down 3 cents at US$43.48.

Reuters also reported US index provider MSCI would add mainland Chinese stocks to its global emerging markets benchmark index, after having declined to do so for the past three years. MSCI plans to add 222 Chinese shares to its Emerging Markets Index, with an initial weighting of 0.73%.

Petron Malaysia fell the most, down 22 sen to RM7.48 while Hengyuan was down 11 sen to RM5.34 as crude oil prices fell. Petronas Dagangan lost 14 sen to RM24.08 and MISC 10 sen lower at RM7.32 with 100 shares done.

Maxis continued to come under some pressure, down seven sen to RM5.55 with 687,500 shares done after its new share placement of 300 million new shares.

BAT was the top gainer, up 40 sen to RM45.38, HLFG gained 30 sen to RM17.44 and Selangor Dredging 13 sen higher at RM1.07. 

Superlon added 10 sen to RM2.02 and Sasbadi nine sen higher at RM1.46 while Pentamaster gained seven sen to RM3.80.
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