KLCI, Asian markets close lower on weak China data


KUALA LUMPUR: Blue chips ended Monday in the red on concerns about a slowdown in China's economy while a decline in oil prices sent Petronas-linked stocks lower.

At 5pm, the KLCI was down 7.06 points or 0.42% to 1,676.16. Turnover was 2.18 billion shares valued at RM1.42bil, reflecting the poor quality due to the surge in Perisai shares traded. There were 286 gainers, 557 losers and 292 counters unchanged.

China shares ended lower after weaker-than-expected monthly trade data spooked investors, reinforcing worries about an economic slowdown and lean global demand, but traders' optimism around government moves to cut taxes curbed losses, Reuters reported.

At the close, the Shanghai Composite index was down 0.71% at 2,535.77. The blue-chip CSI300 index ended 0.87% lower. Hong Kong's Hang Seng Index lost 1.38% and Singapore's STI fell 0.79%.

US light crude oil fell 50 cents to US$51.09 and Brent 52 cents lower at US$59.96.

At Bursa, Petronas Chemical erased 4.91 points from the KLCI when it fell 35 sen to RM8.35, Petronas Dagangan lost 60 sen to RM25.40 and wiped out 1.04 points and Petronas Gas flat at RM18. Dialog lost six sen to RM2.82.

Perisai plunged 2.5 sen to 0.5 sen with 150 million shares done ahead of its delisting. Sapura Energy lost 0.5 sen to 30.5 sen and Bumi Armada was unchanged at 16.5 sen.

Glove makers also fell with Top Glove, the world's biggest glove maker, falling 14 sen to RM4.66 and Hartalega nine sen to RM4.97.

Press Metal lost 13 sen to RM4.52, Genting Bhd seven sen to RM6.38, IHH three sen to RM5.70, Tenaga was flat at RM13.86 while Genting Malaysia edged up five sen to RM3.32 and MISC seven sen higher at RM6.52.

Among the banks, Public Bank fell six sen to RM24.70, Maybank two sen to RM9.43 while RHB Bank gave up three sen to RM5.42 and AmBank unchanged at RM4.48 butHong Leong Bank gained eight sen to RM20.74.

Crude palm oil for third month delivery fekk RM21 to RM2,150 per tonne.

As for plantations, PPB Group was up 12 sen to RM17.52, KL Kepong eight sen to RM24.18 and IOI Corp three sen to RM4.55. Sime Plantation was unchanged at RM5.10.

Chip makers lost ground with burn-in test KESM down 30 sen to RM8.90 and MPI 22 sen lower at RM10.06.

Among the consumer stocks, Dutch Lady fell 90 sen to RM60.50 with 400 shares done, D&N 16 sen to RM33.72 but BAT rose 40 sen to RM36.80 and Nestle 30 sen to RM145.30.

The ringgit fell 0.13% against the US dollar to 4.1005 and lost 0.76% to the pound sterling to 5.2564 but edged up 0.39% against the euro to 4.7038 and gained 0.17% to the Singapore unit at 3.0273.

Markets , Oil & Gas