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: Profit taking in the last 10 minutes of trade on Tuesday saw the FBM KLCI falling about 10 points to end in the red, with Public Bank among the top losers but the broader market was still firm, reflecting overall investor confidence.
At 5pm, the KLCI was down 2.22 points or 0.12% to 1,848.20. Turnover was 4.31 billion shares valued at RM4.44bil. There were 499 gainers, 561 losers and 326 counters unchanged.
The decline on Bursa Malaysia was in line with the cautious key Asian markets. This also was the second day of trading after the Pakatan Harapan coalition scored a stunning victory in last Wednesday's general election.
China and Hong Kong stocks fell, as worries about China's economy and Sino-US trade war resurfaced, outweighing optimism from a largely symbolic move by MSCI to finalise a list for A-share inclusion next month, Reuters reported.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.8%. Hong Kong's Hang Seng Index slid 1.23% and Jakarta's Composite Index tumbled 1.83%.
At Bursa, three counters which hit limit-down on Monday - George Kent, My EG Services and Gabungan AQRS – extended their tumble for the second day.
Before market opened, Bursa Securities announced that the intra-day short-selling and proprietary day trading of Excel Force
, My EG Services, George Kent and Gabungan AQRS had been suspended for the whole day from 8.30am.
George Kent hit limit-down in early trade, falling 82 sen to RM1.94. It is the project delivery partner for the Light Rail Transit from Bandar Utama to Klang.
My EG Services, which is connected with the previous ruling party, tumbled 54 sen to RM1.27.
Gabungan AQRS fell 24 sen to 88 sen.
Public Bank fell 80 sen to RM24 on profit taking and erased 5.57 points from the KLCI. Its major shareholder LPI lost 30 sen to RM16.30.
However, CIMB regained some of the previous day's losses, up 20 sen to RM6.75 and pushing the KLCI up 3.36points. Hong Leong Bank added 36 sen to RM18.86, RHB Bank 18 sen to RM5.48, AmBank six sen to RM3.51.
Nestle fell the most, down RM1.60 to RM139.70 as investors locked in profit. However, F&N added 50 sen to RM36.20.
US light crude oil rose four cents to US$71 and Brent advanced 25 cents to US$78.48. Among the oil and gas stocks, Petronas Gas was unchanged at RM17.54, Petronas Dagangan lost eight sen to RM26.34 and Petronas Chemical 10 sen lower at RM8.60.
Refiners Hengyuan fell 42 sen to RM8.88 and Petron 31 sen to RM9.19. LC Titan was down 26 sen to RM5.55.
Dialog Group rose 25 sen to an all-time high of RM3.32 on rising optimism about its Pengerang projects.
Crude palm oil for third month delivery rose RM18 to RM2,434 per tonne, the highest since April 10.
IOI Corp rose eight sen to RM4.75, PPB Group 12 sen higher at RM20.10 and KL Kepong ended 12 sen higher at RM25.50.
Sime Darby added 10 sen to RM280, Sime Plantation six sen higher at RM5.51 and Sime Property three sen to RM1.46.
As for telcos, Maxi gained 23 sen to RM5.63 and boosted the KLCI 3.22 points. Digi added seven sen to RM4.67 but Telekom lost three sen to RM4.97 and Axiata four sen lower at RM5.16.
Genting lost 20 sen to RM8.76 but Genting Malaysia rose 14 sen to RM5.04, Tenaga lost eight sen to RM15.92.
The ringgit wekaned against the rising US dollar, falling 0.15% to 3.9562. However, it gained 0.08% to the pound sterling to 5.3573, gained 0.21% to the euro to 4.7168 and was up 0.14% to the Singapore dollar at 2.9590.
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