KUALA LUMPUR: Key Asian markets ended Thursday in the red, with Bursa Malaysia following suit, as investors turned risk adverse after China warned about US President Donald Trump's move on Hong Kong.
At 5pm, the FBM KLCI was down 3.41 points or 0.21% to 1,583.77. Turnover was 2.13 billion shares valued at RM1.44bil.
The broader market remained cautious as seen in five decliners to three advancers or 501 losers to 305 gainers and 386 counters unchanged.
Reuters reported assets in the developing world declined as investors turned away from risk after China warned it would retaliate in response to US legislation backing anti-government protesters in Hong Kong.
Trump had on Wednesday signed into law legislation that supported the protesters, despite angry objections from Beijing, with which he is seeking an agreement to end a damaging trade war, the wire reported.
Trump's move was widely expected, but how it might affect a trade deal between the two sides remains unclear.
All key Asian markets fell. The Shanghai Composite Index fell 0.47%, Hong Kong's Hang Seng Index dropped 0.22%, Nikkei 225 12%, South Korea's Kospi 0.43% and Singapore's STI 0.46%.
US light crude oil fell 39 cents to US$57.72 and Brent lost 29 cents to US$63.77.
At Bursa, Petronas Dagangan was the top loser, down 46 sen to RM23.50 and wiped out 0.81 point, Petronas Chemicals shed three sen to RM7.10 but Petronas Gas added eight sen to RM16.06 while Dialog added two sen to RM4.44.
Maxis fell six sen to RM5.35 and erased 1.52 points from the KLCI. Digi was down five sen to RM4.56 while Axiata was unchanged at RM4.26.
Maybank fell six sen to RM5.35 and wiped out 1.52 points. It posted net profit of RM2.0bil in the third quarter ended Sept 30,2019, up 2.1% from RM1.96bil a year ago, due to a rise in net operating income.
RHB Bank fell five sen to RM5.72, CIMB two sen to RM5.23, Public Bank was flat at RM19.74, AmBank gained one sen to RM4.10. Hong Leong Bank jumped 42 sen to RM17.28 and added 1.61 points.
Tenaga Nasional rose 16 sen to RM13.72 and gave the KLCI a 1.61 point nudge, GentingM fell two sen to RM3.11, Genting 12 sen lower at RM5.85 while Sime Darby was flat at RM2.30.
Among the consumer stocks, Carlsberg fell 44 sen to RM27.26, Heineken 30 sen to RM25.90 and BAT 28 sen to RM25.90.
A rebound in crude palm oil (CPO) for third month delivery lifted selected plantation stocks amid some profit taking. CPO for third month delivery rose RM38 to RM2,725 per tonne.
United Plantations added 22 sen to RM26.22 and Batu Kawan 14 sen to RM15.64. PPB Group edged up two sen to RM18.24, IOI Corp one sen to RM4.44 but KL Kepong lost 20 sen to RM23.30 and Sime Plantation five sen down to RM5.05.
Solarvest saw some profit taking after Tuesday's stellar debut on the ACE Market. It fell 6.5 sen to 75.5 sen with 58.5 million shares done. Its offer price was 35 sen.
The ringgit slipped against the US dollar, down 0.48% to 4.1730.
As risk appetite ebbed, spot gold rose US$3.31 to US$1,457.71 per troy ounce.
We're sorry, this article is unavailable at the moment. If you wish to read this article, kindly contact our Customer Service team at 1-300-88-7827. Thank you for your patience - we're bringing you a new and improved experience soon!
What do you think of this article?