KUALA LUMPUR: Blue chips gave up all their early gains on Friday to close on a lacklustre note, weighed by some selling of banks and plantations in the absence of strong corporate or economic news to sustain buying interest.
At 5pm, the KLCI was down 0.97 of a point or 0.06% to 1, 615.05. Turnover fell to 1.97 billion shares valued at RM1.55bil. There were 447gainers, 354 losers and 386 counters unchanged.
Emerging market currencies and equities made cautious moves, with Beijing stocks falling victim to another round of selling on fears about a US ban on several Chinese technology companies, Reuters reported.
Key Asian markets were mixed. Hong Kong's Hang Seng Index fell 0.69%, CSI 300 0.97%, Shanghai Composite 0.71%, HS China Enterprise 0.48% while Singapore's STI lost 0.49%. However, Japan's Nikkei 225 rose 0.44%.
Crude palm oil advanced RM41 to RM2, 176 per tonne – the highest since April 22 – but not enough to boost buying interest in plantation stocks.
IOI Corp fell six sen to RM4.22 and erased 0.66 of a point, Sime Plantation three sen to RM4.67, KL Kepong eight sen to RM23.60 while PPB Group was unchanged at RM18.76. United Plantations fell 40 sen to RM25.80 and Sarawak Plantations lost 10 sen to RM1.40.
Among the banks and financial stocks, HLFG fell 26 sen to RM17.30, HL Bank 10 sen lower at RM17.52, Maybank, CIMB and AmBank shed two sen each to RM8.60, RM5.04 and RM4.10 respectively.
RHB Bank edged up two sen to RM5.60 and Public Bank 10 sen to RM21.52.
IHH and Tenaga Nasional shed two sen each to RM5.73 and RM13.82. GENTING BHD shed two sen to RM6.19 and GentingM one sen to RM3.22.
Consumer stocks were among the top losers as Nestle fell 30 sen to RM148, F&N 20 sen to RM34.66, Carlsberg 18 sen to RM23.82 and Heineken 12 sen to RM22.70.
US light crude oil rose 24 cents to US$52.78 and Brent added 38 cents to US$57.76. Petronas Chemicals rose nine sen to RM7.39 and added 1.26 points to the KLCI, Petronas Gas 10 sento RM16.08 but Petronas Dagangan fell 10 sen to RM23.28. Dialog was flat at RM3.41.LC Titan gained 13 sen to RM2.63.
The ringgit rose 0.02% against the US dollar to 4.1845, gained 0.3% to the US dollar to 5.0709 and strengthened 0.13% to the euro to 4.6851. However, it dipped 0.03% to the Singapore dollar at 3.0270.