Genting slumped 15 sen to RM6.80 and erased 1.01 points while GentingM was down three sen to RM3.25 following the recent corporate news which were viewed as negative by investors.
KUALA LUMPUR: The local market slumped along with other Asian markets on the heels of the sharp pullback on Wall Street overnight as tech stocks were hit by concerns over tighter regulatory controls.
At midday, the FBM KLCI dropped 3.69 points to 1,858.76. Turnover was 964.09 million shares with a value of RM653.63mil. There were 538 decliners to 195 gainers and 350 counters unchanged.
Leading the decline was Genting Malaysia, which slipped 10 sen to RM4.95. SIme Darby Plantations also weighed, dropping eight sen to RM5.51 while Petronas Gas shaved eight sen to RM17.74.
Other decliners included Maxis, falling two sen to RM5.78 while Nestle took off 10 sen to RM149.60.
CIMB bucked the trend to rise nine sen to RM7.21m along with RHB gaining three sen to RM5.25 and Hong Leong Bank adding two sen to RM18.54.
On the broader market, gainers included BAT, which rose 10 sen to RM27.02, Dutch Lady
, which gained 10 sen to RM66 and Hai-O, which added 11 sen to RM4.99
Leading decliners included KESM, falling 48 sen to RM18.96, MPI dropping 13 sen to RM8.67 and Amway sliding 10 sen to RM7.50.
Oil prices were pulled down by a report of increasing U.S. crude inventories that surprised many traders, Reuters reported.
WTI crude fell 48 cents to US$64.79 a barrel while Brent crude dropped 39 cents to US$69.72.
In currencies, the US dollar continued to slip amid elevated global trade tensions. The ringgit rose 0.49% against the greenback to 3.8580. It also strengthened 0.22% against the pound sterling to 5.4739 and 0.43% against the Singapore dollar at 2.9809.
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