Public Bank, Tenaga fall early Wednesday

KUALA LUMPUR: Public Bank and power giant Tenaga Nasional led the FBM KLCI deeper into the red early Wednesday, trekking the key Asian markets but trading volume is expected to be thin ahead of the long weekend.

At 9.08am, the KLCI was down 5.07 points or 0.29% to 1,759.09. Turnover was 95.68 million shares valued at RM58.18mil. There were 105 gainers, 133 losers and 156 counters unchanged.

Reuters reported Asian shares edged slightly lower on Wednesday as investors looked to the Federal Reserve policy decision and any clues it might give on future rate hikes.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.15% and Japan's Nikkei eked out gains of 0.10%.

On Wall Street, the S&P 500 gained 0.17 percent, led by a continued rally in technology shares. The Nasdaq Composite added 0.57%, to finish at record low of 7,703.

At Bursa, HLFG fell the most, down 26 sen to RM18.64 with just 200 shares done. Public Bank lost 14 sen to RM24.16, KL Kepong and Tenaga 10 sen each to RM24.82  and RM14.30 while Hap Seng lost eight sen to RM9.65.

Carlsberg lost 12 sen to RM19.98 and UMW 11 sen to RM6.19 while Padini was down seven sen to RM5.57.

Top Glove reversed its earlier losses to jump 18 sen to RM11.32, while QL Resources, UliCorp and Genting edged up four sen each to RM5.84, RM1.43 and RM8.64 respectively.

Berjaya Auto’s firm earnings for FY ended April 2018 saw it climbing nine sen to RM2.42.