Bursa, Asian and European markets fall ahead of Brexit vote

  • Markets
  • Monday, 28 Jan 2019

The key FBM KLCI fell briefly below the crucial 1,600 level in afternoon trade on Monday on mounting selling pressure in line with the key Asian markets.

KUALA LUMPUR: Bursa Malaysia joined the key Asian markets to end Monday in the red ahead of the crucial Brexit vote and another round of the US-China trade talks while weaker oil prices weighed on oil stocks.

At 5pm, the FBM KLCI was down 3.53 points or 0.21% to 1,697.50. Turnover was 2.25 billion shares valued at RM1.95bil. The broader market was weaker with decliners beating advanced 550 to 301 and 355 counters unchanged.

Bloomberg reported European shares fell at the open as investors await a crucial Brexit vote, another Federal Reserve meeting and a new round of trade talks this week. The Stoxx Europe 600 index dropped 0.4%, with almost all the sub 

groups in the red and basic resources shares jumping the most

In Asia, Japan's Nikkei 225 fell 0.6%,  Hong Kong's Hang Seng Index inched up 0.03%, China's Shanghai Composite Index shed 0.18% and Singapore's STI fell 0.12%.

US light crude oil tumbled US$1.06 to US$52.63 and Brent lost US$1.14 to US$60.50. Petronas Chemical fell seven sen to RM8.62 and erased nearly one point from the KLCI, Dialog shed five sen to RM3.02, Petronas Gas was flat at RM17.74 but Petronas Dagangan was up 24 sen to RM26.34.

Sapura Energy rose 0.5 sen to 28.5 sen with 290 million shares done while Bumi Armada fell 1.5 sen to 21.5 sen after last week's run-up.

Crude palm oil rose RM33 to RM2,327 per tonne – the highest since June 2018. 

PPB Group rose 16 sen to RM18.24, KL Kepong edged up two sen to RM24.72, Sime Plantation was flat at RM5.18 and IOI Corp eased two sen to RM4.65. 

United Plantations rose 80 sen to RM26.80 and Chin Tek 35 sen to RM7 while Genting Plantations added 22 sen to RM10.26. However, Batu Kawan, the major shareholder in KL Kepong, fell 30 sen to RM16.90 with 800 shares done.

Glove maker Hartalega fell 16 sen to RM5.58 and erased 0.93 of a point while Top Glove was down nine sen to RM4.89.

Press Metal fell 11 sen to RM4.22, Tenaga Nasional six sen to RM13.58, Genting seven sen to RM6.81, MAHB 15 sen to RM8.05 while Sime Darby was flat at RM2.30.

As for telcos, Axiata was up six sen to RM4.14, Digi five sen to RM4.60 but Maxis lost three sen to RM5.76.

Among the banks, Public Bank rose two sen to RM24.82, Maybank and AmBank were flat at RM9.66 and RM4.49 while CIMB and RHB Bank shed two sen each to RM5.66 and RM5.47 and Hong Leong Bank eight sen lower at RMRM20.70.

The ringgit gained 0.36 against the weaker US dollar to 4.1108 but lost 0.42% to the pound sterling to 5.4132, gave up 0.41% to the euro at 4.6865 and eased 0.05% against the Singapore dollar at 3.0365.

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