Petronas-linked stocks among top losers as oil retreats

  • Markets
  • Monday, 14 Jan 2019

KUALA LUMPUR: Petronas-linked companies were among the top losers in late afternoon trade on Monday as crude oil prices slumped.

At 3.16pm, Petronas Dagangan was down 62 sen to RM25.38, Petronas Chemical lost 40 sen to RM8.30 and Petronas Gas fell 20 sen to RM17.80.

The FBM KLCI was down 79.47 points or 0.56% to 1,673.75. Turnover was 1.63 billion shares valued at RM772.70mil. Decliners beat advancers more than two to one or 529 losers to 251 and 273 counters were unchanged.

The decline in heavyweight Petronas Chemicals' share price erased five points from the KLCI. The stock came under some selling pressure last week after it was downgraded.

Petronas Gas's decline wiped out 0.86 of a point and Petronas Dagangan about 0.8 of a point.

US light crude oil fell 79 cents to US$50.80 and Brent fell 82 cents to US$59.66 after Chinese data showed weakening imports and exports in the world's biggest trading nation and second-largest crude oil consumer, Reuters reported.

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