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: Blue chips snapped their nine-day winning streak on Friday as investors took some gains, with telcos, Tenaga Nasional and banks among those weighing on the FBM KLCI.
At 5pm, the KLCI was down 4.57 points or 0.26% to 1,754.67. Turnover declined to 2.89 billion shares valued at RM2.53bil. The broader market was weaker as gainers trailed behind losers 411 to 481 while 430 stocks were unchanged.
Asian equities erased earlier losses as Chinese stocks surged after a report said regulators will loosen rules on the asset management industry. The yuan wiped out an earlier decline amid suspected intervention from officials, Bloomberg reported.
Consumer were among the top losers of the day, with Heineken down 64 sen to RM22.84, F&N fell 30 sen to RM37.32 and Carlsberg 10 sen to RM18.98. Nestle rose 20 sen to RM148.
Among the telcos, Digi fell nine sen to RM4.54 and wiped out 1.24 points, Telekom was also down nine sen to RM3.81, Axiata shed six sen to RM4.34, and Maxis two sen lower at RM3.81.
Power giant Tenaga fell 10 sen to RM14.82, Genting Malaysia was flat at RM5.12 but Genting Bhd
added three sen to RM8.85. Press Metal was the biggest mover among the KLCI stocks, nudging the index up 0.62 of a point when it ended the day nine sen higher at RM4.40.
As for banks, CIMB fell five sen to RM5.81, Maybank two sen to RM9.79, Honf Leong Bank was flat at RM18.50 but Public Bank rose four sen to RM23.94 and RHB Bank gained six sen to RM5.40.
Nova Wellness which was listed on the ACE Market, ended up 21 sen to 76 sen in active trade.
Crude palm oil for the third month delivery fell RM7 to RM2,186 per tonne. Batu Kawan fell 20 sen to RM17.40, PPB Group shed two sen to RM19.80, KL Kepong was flat at RM24.40 while IOI Corp advanced two sen to RM4.52.
Sime Plantation and Sime Property shed one sen each to RM5.18 and RM1.28 but Sime Darby added two sen to RM2.44.
US light crude oil rebounded 99 cents to US$70.45 and Brent advanced 81 cents to US$73.39.
Petronas Chemical and Petronas Gas fell six sen each to RM8.74 and RM18.36 but Petronas Dagangan edged up four sen to RM25.80. Dialog inched up one sen to RM3.31.
MyEG Services rose 12 sen to RM1.24 in active trade. It has bounced back from the record low of 70 sen on June 4.
George Kent added six sen to RM1.47 and is up from 99 sen on July 11 on news the light rail transit three (LRT 3) would go ahead but the total costs would be slashed by nearly half.
Latitude Tree, which makes furniture, jumped 23 sen to RM3.64 as UOB Kay Hian Malaysia Research expects the company to be among those which will benefit from the US-China trade war.
As for the ringgit, it was up 0.05% against the US dollar to 4.0620 and climbed 0.08% to the pound sterling at 5.2860 but slipped 0.15% to the euro at 4.7282 and fell 0.13% to the Singapore dollar at 2.9705.
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