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: Key Asian markets and European bourses fell on Wednesday on worries about the US-China trade war with the FBM KLCI extending its decline, weighed by Genting Malaysia and Sime Plantations.
At 5pm, the KLCI was down 4.58 points or 0.25% to 1,857.87. Turnover was 2.08 billion shares valued at RM1.82bil. Decliners beat advancers by 2.6 to one or 651 losers to 251 gainers and 361 counters unchanged.
Reuters reported Europeans stocks toppled again, as jitters about a US-China trade war and regulatory crackdown on firms such as Facebook left investors facing their first quarterly fall in equity markets in two years.
Europe's main bourses opened more than 1% in the red as the fifth sell-off in six days gathered momentum and sent risk-averse traders piling back to the safety of bond markets.
While the equities markets were under pressure, the ringgit managed to advance against several key currencies including the US.
The ringgit rose 0.32% against the US dollar to 3.8647 and climbed 0.26% to the euro to 5.4719 while it gained 0.62% to the euro to 4.7888 and was up 0.39% to the Singapore dollar at 2.9520.
At Bursa, Genting Malaysia fell 18 sen to RM4.87 and erased nearly two points from the KLCI while Genting Bhd
was down five sen to RM8.85 while Tenaga rose eight sen to RM15.80 and nudged the KLCI up 0.81 of a point.
Crude palm oil for third month delivery fell RM14 to RM2,417 per tonne. Sime Plantation fell seven sen to RM5.52 and erased 0.85 of a point, Sime Darby gained three sen to RM2.62 and Sime Property gained one sen to RM1.40.
PPB Group lost two sen to RM19.16 while KL Kepong and IOI Corp were flat at RM25.56 and RM4.80.
Oil fell on Wednesday as investors took profit on a rally the previous day to this year's highs after a report showed a surprisingly large increase in US crude inventories, Reuters reported.
US light crude oil fell 62 cents to US$64.63 and Brent lost 43 cents to US$69.68. Hengyuan lost 35 sen to RM7.56 and Petron 18 sen to RM8.72.
Petronas Chemical fell three sen to RM8.25, Petronas Gas added two sen to RM17.84 and Petronas Dagangan added six sen to RM24.76.
Sapura Energy's recent recovery hit a speed bump, falling 4.5 sen to 50 sen with 214 million shares done. It posted net losses of RM2.29bil in the fourth quarter ended Jan 31, 2018, as the company incurred impairment charges of RM2.1bil in its engineering and construction and drilling segments.
As for banks, AmBank fell 11 sen to RM3.94, Maybank and Public Bank lost two sen each to RM10.50 and RM23.96, RHB Bank rose three sen to RM5.25 and HL Bank added six sen to RM18.58.
Among the telcos, Telekom lost six sen to RM5.33, Macis three sen to RM5.77. Axiata added one sen to RM5.48 and Digi gained four sen to RM4.65.
As for consumer stocks, Heineken fell 64 sen to RM20.20 and Ajinomoto 22 sen lower at RM22.10.
Tech stocks took a hit, with KESM down the most, falling 64 sen to RM18.80 and Vitrox 11 sen lower at RM5.35.
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