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 struggled for the second day on Wednesday as investors were cautious about the mostly uninspiring results, except for banks, while key Asian markets were mixed.
At 5pm, the KLCI was down 5.55 points or 0.32% to 1,713.45. Turnover was 2.19 billion shares valued at RM2.07bil. There were 364 gainers, 481 losers and 383 counters unchanged.
Among the key Asian markets, Japan's Nikkei 225 cose dup 0.5%, China's Shanghai Composite gained 0.42% and South Korea'sKospi 0.37% but Hong Kong's Hang Seng Index fell 0.05%. Singapore's STI lost 0.39%.
Oil prices rose after a report of declining US crude inventories and as producer club OPEC seemed to stick to its supply cuts despite pressure from US President Donald Trump.
US West Texas Intermediate (WTI) crude oil futures rose 15 cents to US$55.77 per barrel and Brent advanced 27 cents to US$65.48, Reuters reported.
Petronas Dagangan's disappointing results saw it falling 20 sen to RM26.60 and erasing 0.34 of a point. Petronas Gas and Petronas Chemical eached advanced four sen to RM18.24 and RM9.29. Dialog inched up one sen to RM3.24.
Crude palm oil for third month delivery fell RM34 to RM2,49 per tonne, the lowest since Jan 15. Sime Plantation fell 15 sen to RM5.09 and erased 1.8 points from the KLCI and it is due to announce its results on Thursday.
IOI Corp lost seven sen to RM4.49, KL Kepong 18 sen to RM24.80, Batu Kawan 40 sen to RM17.10 and PPB Group shed two sen to RM18.50.
Genting Bhd
lost 12 sen to RM7.32 and erased 0.81 points, MAHB 18 sen lower at RM8.19, Sime Dartby four sen to RM2.19 but Genting Malaysia rose three sen to RM3.47 and Tenaga closed four sen higher at RM13.48.
Among the banks, Maybank's record earnings and dividend saw the country's larghest bank by assets rising three sen to RM9.58 and pushing the KLCI up 0.58 of a point.
AmBank and HL Bank were flat at RM4.58 and RM21.30 while RHB Bank and Public Bank were unchanged at RM5.59 and RM25.06. CIMB shed two sen to RM5.86.
Among the telcos, Axiata lost three sen to RM4.09, Maxis dipped two sen to RM5.42 and Digi unchanged at RM4.66.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
