KUALA LUMPUR: Profit taking on Public Bank dragged the FBM KLCI into the red early Wednesday, snapping the seven-day winning stretch for blue chips, while Revenue Group jumped on its trading debut on the ACE Market.
At 9.17am, the KLCI was down 4.96 points or 0.29% to 1,732.32. Turnover was 239.49 million shares valued at RM114.68mil. There were 136 gainers, 146 losers and 221 counters unchanged.
Asian shares followed Wall Street higher as a bullish outlook from the head of the US central bank buoyed the dollar, lifted Tokyo shares to a one-month top and sent gold to a one-year trough, according to Reuters.
Japan's Nikkei rose 1% gain as a weakening yen promised to fatten exporters' profits. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.16% and South Korea's market 0.85%.
Oil prices dropped after an industry group reported that US crude inventories rose last week, defying analyst expectations for a significant reduction, Reuters reported.
Brent futures were down 40 cents at US$71.76 a barrel while US West Texas Intermediate crude was down 27 cents at US$67.82.
At Bursa, cashless payment solutions provider Revenue Group, which was listed on the ACE Market of Bursa Malaysia, rose 15 sen to 52 sen. It was the most active with 54.21 million shares done.
Priceworth gained 1.5 sen to nine sen and it was the second most actively traded stock with 37.34 million shares done.
Public Bank fell 40 sen to RM23.20, Petronas Gas lost 12 sen to RM18.30 and MISC seven sen shed seven sen to RM6.15.
Nestle fell the most, down RM1.10 to RM147 with 200 shares done, Dutch Lady lost 32 sen to RM66.68 and Ajinomoto eight sen lower at RM21.70. Carlsberg gained 24 sen to RM19.30 and Heineken eight sen to RM23.58.
Power Root lost four sen to RM1.55.
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