Bursa down for fifth trading day, key Asian markets fall

KUALA LUMPUR: Bursa Malaysia closed in the red for the fifth trading day on Monday, with the FBM KLCI down 1% while all key Asian markets slid on the US-China trade conflict worries, sparked off by the arrest of the Huawei chief financial officer.

At 5pm, the KLCI was down 17.23 points or 1.03% to 1,663.31. Turnover was 2.65 billion shares valued at RM1.37bil. Decliners beat advancers three to one with 612 losers to 194 gainers and 332 counters unchanged.

Stocks slid in Europe and Asia as futures pointed to US shares extending Friday’s decline amid a potential escalation of tensions between Washington and Beijing, and after signs China’s economy remains under pressure, Bloomberg reported.

Japan's Nikkei 225 fell 2.12%, Hong Kong's Hang Seng Index lost 1.19%, Shanghai Composite Index 0.82% lower, Taiwan's slipped 1.16% and Singapore's STI 1.04%. 

At Bursa, Sime Plantations fell 21 sen to RM4.48 and erased 2.53 points from the KLCI,  KL Kepong 24 sen lower to RM23.90, IOI Corp eight sen to RM4.27 while PPB Group was flat at RM17.

Crude palm oil for third month delivery rose RM41 ro RM2,039 per tonne.

Malaysia's palm oil stockpiles at the end of November rose above three million tonnes as a steep decline in exports boosted reserves, official data showed on Monday. Palm oil stocks last month rose 10.5%  from October to 3.007 million tonnes, industry regulator the Malaysian Palm Oil Board (MPOB) said. 

The stockpiles are at the highest in at least 18 years, according to Refinitiv data going back that far, Reuters reported. 

Among the banks, CIMB fell 13 sen to RM5.65 and erased 2.21 points, HLFG 50 sen to RM18.86, Hong Leong Bank 30 sen to RM20.30, Public Bank 10 sen to RM24.70, Maybank five sen to RM9.37 while RHB Bank shed one sen to RM5.33.

Genting Bhd lost 21 sen to RM6.05, GentingM six sen to RM2.81 and MISC nine sen to RM6.01.

Tenaga fell 14 sen to RM13.56 and wiped out 1.41 points from the KLCI. The share price was at its lowest since June 28.

Prestariang lost 15 sen to 30.5 sen – lowest since March 2012 – with 78.21 million shares done after the Home Ministry confirmed the Immigration Department's RM3.5bil national immigration control system (SKIN) concession had been cancelled.

Top Glove lost 35 sen to RM5.55 with 22.25 million units traded, following news that it was accused of forced labour. 

US light crude oil fell 12 cents to US$52.49 but Brent climbed 21 cents to US$61.88.

Petronas Dagangan rose 50 sen to RM25.64, Petronas Gas was flat at RM19.10 while Petronas Chemical and Dialog shed one sen each to RM9.19 and RM3.17

Consumer stocks also fell with Fraser and Neave falling the most for the day, sliding 66 sen to RM32.04, BAT 58 sen to RM36.70, Ajinomoto 54 sen to RM18.10 and Carlsberg 34 sen to RM19.26.

However, Nestle rose 40 sen to RM144.90 and Heineken 30 sen to RM20.20.