Consumer stocks top losers as investors stay cautious


KUALA LUMPUR: Consumer stocks topped the losers' list on Wednesday as investors stayed cautious due to the lack of convincing catalysts while the FBM KLCI closed below the key 1,600.

At 5pm, the KLCI was down 4.81 points or 0.3% to 1,599.49. Turnover was1.98 billion shares valued at RM1.60bil. Decliners beat advancers 480 to 339 while 416 counters were unchanged.

China stocks rose on expectations of lower borrowing costs at home and the US, with a resumption of trade talks between Beijing and Washington aiding risk appetite, Reuters reported.

China's blue-chip CSI300 Index gained 0.5% to 3,910.08, while the Shanghai Composite Index rose 0.3% to 2,985.65

At Bursa, Dutch Lady fell RM2.10 to RM56.70, Nestle 50 sen to RM146.50, F&N 40 sen to RM35.40 and Heineken lost 30 sen to RM24.10.

Petronas Chemicals weighed on the FBM KLCI, erasing 1.13 points when it fell eight sen to RM7.69 as Saudi's crude oil supplies were being restored. Petronas Gas and Petronas Dagangan rose four sen each to RM16.46 and RM23.46. Dialog was unchanged at RM3.50.

Genting Malaysia lost four sen to RM3.10 and wiped out 1.05 points, Genting also shed four sen to RM5.80, Tenaga two sen lower at RM13.60 while Sime Darby shed one sen to RM2.34.

However, IHH Healthcare rose six sen to RM5.75 and pushed the KLCI up 0.93 points as investors were positive about its purchase of Prince Court Medical Centre. MAHB gainbed 27 sen to RM8.78.

Plantations fell as crude palm oil prices retreated. PPB Group lost 30 sen to RM18.22, KL Kepong 22 sen to RM23.36, IOI Corp was unchanged at RM4.42 while Sime Plantation added two sen to RM4.90.

As for telcos, Maxis fell five sen to RM5.65, Axiata rose three sen to RM4.30 and Digi six sen higher to RM4.78.

Among the banks, Hong Leong Bank rose six sen to RM16.50, RHB Bank seven sen to RM5.62, Maybank five sen to RM8.70 while CIMB and AmBank inched up one sen each to RM5.01 and RM4.11. Public Bank was uchanged at RM20.16.

Semiconductor and IT-related stocks closed higher with chipmaker MPI up 35 sen to RM9.36, Dufu and Pentamaster 16 sen each to RM2.52 and RM4.02.


   

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