MAHB, Maybank weigh on KLCI, Asian markets down

KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) and Maybank dargged the FBM KLCI into the red early Friday, in line with the cautious key Asian markets after the overnight decline on Wall Street.

At 9.21am, the KLCI was down 6.43 points or 0.37% to 1,714.99. Turnover was 215.67 million shares valued at nearly RM100mil. There were 98 gainers, 200 losers and 218 counters unchanged.

Asian stocks dipped as Wall Street took a breather after the Federal Reserve kept intact its plans to continue raising interest rates at a gradual pace, with a fourth hike for this year expected next month, Reuters reported.

MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.06%. The index was still headed for a sizable gain of more than 6 percent this week, during which it rose to a one-month high.

Australian stocks were flat, South Korea's KOSPI edged up 0.2% and Japan's Nikkei fell 0.2%.

At Bursa, MAHB fell 12 sen to RM8.02 and Maybank seven sen to RM9.25.

BAT skidded RM1.18 to RM36.62 while Carlsberg lost 10 sen to RM19.30.

KL Kepong was down 10 sen to RM24.80 and PPB Group eight sen lower at RM17.20 in thin trade.

As for semicon stocks, KESM fell eight sen to RM11 but MPI gained 40 sen to RM11.20 after its strong results and Wong Engineering eight sen higher at 90 sen.

Revenue Group extended its gains after its teamed up with Public Bank Bhd to launch the all-in-one digital payment terminals which was made available on Friday. Its shares rose four sen to RM1.29.