KUALA LUMPUR: Selected banks weighed on the FBM KLCI on Monday as investors decided to continue to take profit but the ringgit fared well against the key currencies including the US dollar and the pound sterling.
At 5pm, the KLCI was down 6.73 points or 0.42% to 1,584.73. Turnover was 2.61 billion shares valued RM1.64bil. There were 419 gainers, 429 losers and 407 counters unchanged.
China's blue-chip index closed at a near two-year high on Monday, amid strength in technology shares, as investors turned optimistic ahead of the signing of the Phase 1 trade deal between China and the US, Reuters reported.
Aiding sentiment was recent official rhetoric that called for bolstering of China's capital market to propel its economy. The CSI300 index rose 1%, to 4,203.99, the highest close since February 2018. The Shanghai Composite Index gained 0.8% to 3,115.57.
Japan's Nikkei 225 was closed but Taiwan's Taiex rose 0.74% and South Korea's Kospi 1.04%. However, Singapore's STI fell 0.2%.
Stephen Innes, chief Asia market strategist at AXITrader said: "Overall, risk sentiment looks positive on the back of optimism over a thawing in the economic relationship between the US and China ahead of the Phase 1 signing this week."
Public Bank fell 32 sen to RM19.22 and erased 1.91 points from the KLCI while Hong Leong Bank gave up 36 sen to RM17.20 and wiped out 1.2 points. HLFG lost 12 sen to RM17.16, Maybank, CIMB and RHB Bank were flat at RM8.65, RM5.20 and RM5.85 respectively. AmBank rose two sen to RM3.91. Insurer Allianz rebounded 34 sen to RM15.68.
US light crude oil and Brent rose 11 cents each to US$59.15 and US$65.09 per barrel. However, Petronas Chemicals fell 14 sen to RM7.10 and wiped out 1.97 points, Petronas Gas 24 sen lower at RM16.60 and Petronas Dagangan two sen lower at RM22.46 while Dialog ended unchanged at RM3.44. Dayang Enterprise jumped 22 sen to RM2.73.
Crude palm oil for third month delivery fell RM39 to RM3,095 per tonne. IOI Corp fell four sen to RM4.66, Sime Plantation three sen to RM5.42, PPB Group flat at RM18.68 but KL Kepong rose eight sen to RM24.74.
IHH Healthcare fell six sen to RM5.54, MISC five sen to RM8.27, MAHB fve sento RM7 and Tenaga Nasional two sen to RM12.96. GentingM rose five sen to RM3.32 and Genting one sen to RM6.17.
As for telcos, Digi rose two sen to RM4.56, Axiata one sen to RM4.18 but Maxis lost three sen to RM5.47.
Among the consumer stocks, Carlsberg fell 48 sen to RM29.70, Dutch Lady 42 sen to RM47.30 and F&N 30 sen to RM13.50 but Nestle rose 20 sen to RM145.60.
Among the semicon stocks, Kesm rose 36 sen to RM10.20, Vitrox 21 sen to RM8.50, Dufu 20 sen to RM3.54, MPI 18 sen to RM12.38.
The riggit rallied 0.35% against the US dollar to 4.0617; advanced 0.89% to the pound sterling to 5.2829; edged up 0.14% to the euro at 4.5212 and added 0.15% against the Singapore dollar to 3.0170.
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