KUALA LUMPUR: Bursa Malaysia ended Tuesday's trading on a lacklustre note while key Asian markets closed in the red ahead of the looming threat by the US of fresh tariffs on Chinese goods this weekend.
At 5pm, the KLCI was down 0.92 point or 0.06% to 1,561.79. Turnover was 2.66 billion shares valued at RM1.51bil. There were 365 gainers, 443 losers and 371 counters unchanged.
Consumer stocks were among the top losers on Bursa. The cautious market sentiment also prompted investors to take profit on plantation counters following the rally in crude palm oil (CPO) prices which rose to an intra-day high of RM2,929 per tonne for third month delivery.
On the external front, Reuters reported Hong Kong shares finished lower oas investors waited to see if the United States would slap fresh tariffs on Chinese goods this weekend, a move that was likely to complicate efforts to defuse the protracted trade war.
Sentiment also suffered as data showed China's producer prices fell for the fifth consecutive month in November, while consumer prices spiked as food costs climbed, complicating policymakers' efforts to boost demand as economic growth slows.
The Hang Seng Index fell 0.22%, Nikkei 225 slipped 0.09%, Taiwan's Taiex lost 0.28% and Singapore's STI 0.53% lower. China's Shanghai Compsite rose 0.1% and South Korea's Kospi 0.45%.
At Bursa, Dutch Lady fell 52 sen to RM49.90, Carlsberg 22 sen to RM27.64, BAT 20 sen to RM15.40 and F&N 12 sen lower at RM34 but Heineken gained 30 sen to RM26.60 and Nestle advanced 20 sen to RM145.40.
At 5.45pm, CPO for third month delivery was up RM14 to RM2,916 per tonne, which was the highest since Febuary 2017.
Among the plantations, KL Kepong lost 32 sen to RM24.50, Sime Plantation and PPB Group two sen each to RM5.28 and RM18.38 but IOI Corp gained three sen to RM4.56.
As for banks, CIMB lost four sen to RM5.14 and erased 0.7 of a point from the KLCI, Public Bank six sen to RM18.96 and Maybank two sen to RM8.54, RHB Bank shed one sen to RM5.61 but AmBank added five sen to RM3.87.
Tenaga Nasional rose one sen to RM13.26, Genting six sen to RM5.79 and GentingM four sen to RM3.18. Sime Darby lost four sen to RM2.34, IHH was flat at RM5.25 while MAHB added two sen to RM8.06. MISC gained one sen to RM8.30.
As for glove makers, Top Glove rose eight sen to RM4.41 but Hartalega shed one sen to RM5.16.
US light crude oil fell 26 cents to US$58.76 and Brent 28 cents lower at US$63.97. Petronas Chemicals lost five sen to RM7 and wiped out 0.7 of a point from the KLCI, Petronas Gas lost 18 sen to RM15.42 but Petronas Dagangan climbed 34 sen to RM22.50 and gave the KLCI a 0.6 of a point boost.
Quality Concrete held on to its large gains, after surging 29.5 sen to RM1.10. On Monday, it issued a statement to Bursa Malaysia it had its subsidiary had received a performance based contract for the long-term management and maintenance of state roads in Sarawak for package two. The package was for the Seri Aman and Betong division.
It had had erroneously stated the contract was RM34,639mil. However at 1.10pm on Tuesday it issued a statement to rectify the contract sum to RM34.64mil.
The ringgit weakened against the US dollar by 0.1% to 4.1643, unchanged against the pound sterling to 5.4766 and eased 0.08% to the Euro to 4.6076 and shed 0.05% against the Singapore dollar to 3.0605.
Spot gold rose US$3.61 or 0.25% to 1,465.30 per troy ounce.
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