Petronas Chemicals continues to weigh on KLCI

  • Markets
  • Thursday, 14 Nov 2019

market open

KUALA LUMPUR: Blue chips extended their decline early Thursday, weighed down by losses in Petronas Chemicals after its disappointing third quarter results, while key Asian markets were lacklustre.

At 9.26am, the FBM KLCI was down 0.33 of a point or 0.02% to 1,596.89. Turnover was 269.12 million shares valued at RM124.42mil. There were 186 gainers, 151 losers and 253 counters unchanged.

Asian stocks clung to tight ranges as investors awaited key Chinese data for clues on how much the 16-month trade war between Beijing and Washington has hit growth in the world's second-largest economy, Reuters reported.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.01%. Australian shares were up 0.12%, while Japan's Nikkei stock index fell 0.02%.

At Bursa on Wednesday, local institutions were net buyers at RM136.9mil and retail investors at RM4.3mil while foreign funds were net sellers at RM141.2mil.

BAT was the top losers, down 44 sen to RM17.12 while Petronas Chemicals fell 14 sen to RM7.24 in active trade. Petronas Dagangan lost 30 sen with 100 shares done.

MPI fell 30 sen to RM10.66 with 100 shares traded, KL Kepong lost 22 sen to RM21.98, Westports 12 sen to RM4.31 while Favelle Favco was down six sen to RM2.80.

Carlsberg was the top gainer, 22 sen to RM28.32 and Heinken 10 sen higher at RM25.90.

KKB jumped 15 sen to RM1.55 while Press Metal, Hartalega and KPower gained five sen each to RM475, RM5.33 and RM1.59 respectively.

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