Tenaga, Telekom top losers as market extends retreat

KUALA LUMPUR: Tenaga Nasional and Telekom Malaysia were among the top losers in early Friday while the broader market was mixed in the absence of strong fund buying.

At 9.40am, the KLCI was down 1.44 points or 0.09% to 1,686.04. Turnover was 424.71 million shares valued at RM152.75mil. There were 180 gainers, 209 losers and 285 counters unchanged.

Asian shares hovered near two-month highs on Friday, holding recent gains as investors awaited US employment data, a key release that could make or break market expectations about aggressive policy easing by the Federal Reserve, Reuters reported.

MSCI's broadest index of Asia-Pacific shares outside Japan was set for its fifth straight weekly rise. It opened a tick higher at 534.40, a level not seen since early May. Japan's Nikkei was unchanged at 21,695.9.

Tenaga fell 10 sen to RM14.04, TM lost seven sen to RM4.30 while Axiata lost four sen to RM5.22.

Utusan tumbled six sen to 11  sen.

KESM was the top gainer, up 11 sen to RM7.60, Yinson added 10 sen to RM6.75, Edgenta seven sen to RM2.92 and KUB 4.5 sen to 37 sen.

KNM was the most active, up one sen to 31 sen with 32 million shares done.