KUALA LUMPUR: Bursa Malaysia wrapped up the last trading day of November on a disappointing note on Friday as Tenaga Nasional slumped on a whopping tax bill of RM3.98bil.
At 5pm, the FBM KLCI was down 22.03 points or 1.39% to 1,561.74 – the lowest since Oct 11. For the month, it was down 31.6 points or 1.98% while year-to-date, the 30-stock index is down 7.62%.
Turnover was 2.60 billion shares valued at RM2.35bil. Decliners beat advancers more than three to two or 631 losers to 295 gainers and 332 counters unchanged.
Key Asian markets were also in the red on renewed doubts over the prospects of a US-China trade deal. China warned it would retaliate in response to US legislation backing anti-government protesters in Hong Kong.
Hong Kong's Hang Seng Index fell 2.03%, Japan's Nikkei 225 0.49%, Shanghai Composite Index 0.61%, Taiwan's Taiex 1.1% and South Korea's Kosp[i 1.45% while Singapore's STI ended 0.31% lower.
At Bursa, Tenaga's better financial performance was eclipsed by the tax bill. Selling of the shares accelerated and sent it down 56 sen to RM13.16 and wiping out 5.63 points from the KLCI.
As for telcos, Maxis fell 17 sen to RM5.18 and erased 2.35 points while Axiata lost 13 sen to RM4.13 and wiped out 2.1 points while Digi gave up eight sen to RM4.48.
A slump in crude oil prices also impacted oil stocks. US light crude oil fell 21 cents to US$57.90 and Brent 50 cents to US$63.37.
Petronas Gas skidded 56 sen to RM15.50 and erased nearly two points, Petronas Dagangan lost 60 sen to RM22.90 and Petronas Chemical four sen to RM7.06. Dialog lost four sen to RM3.35.
Consumer stock Dutch Lady was down RM1.28 to RM55.80 and Nestle 70 sen to RM143.30. However, Heineken rose 60 sen to RM26.50 after its strong results and F&N gained 10 sen to RM34.74.
Among the financial stocks and banks, HLFG lost 46 sen to RM16.30, Hong Leong Bank fell 38 sen to RM16.90, Public Bank 12 sen to RM19.62, CIMB five sen to RM5.18, RHB Bank six sen to RM5.66 but Maybank inched up one sen to RM8.53.
AmBank fell 11 sen to RM3.99. It posted net profit of RM711.03mil in the first half ended Sept 30,2019, which was 2.2% higher from RM695.74mil a year ago.
GentingM added three sen to RM3.14, MAHB seven sen to RM8.30 but Genting shed two sen to RM5.83 and MISC 11 sen lower at RM8.15.
Crude oil for third month delivery rose RM12 to RM2,735. KL Kepong added four sen to RM23.34, PPB Group fell four sen to RM18.20, Sime Plantation seven sen to RM4.98 and IOI Corp nine sen lower at RM4.35. Chin Tek fell 28 sen to RM6.50 and United Plantations 22 sen to RM26.
Pentamaster fell 21 sen to RM4.48 and its was the most active with 136.96 million shares on news that it was not Shariah compliant. It hit an early low of RM3.74 or 20.2%.
The ringgit weakened 0.05% against the US dollar to 4.1753 and shed by the same percentage against the Singapore dollar to 3.0560.
However, it rose 0.17% against the pound sterling to 5.3893 and edged up 0.02% to the euro to 4.5958.
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