KUALA LUMPUR: The FBM KLCI gave up more than its recent gains on Monday, with Maxis, Tenaga and Axiata among the top losers, in the absence of firm follow-through buying ahead of the Feb 27 stimulus programme.
At 5pm, the KLCI was down 7.34 points or 0.48% to 1,537.12. Turnover was 2.91 billion shares valued at RM1.89bil. The broader market was mixed with 413 gainers, 444 losers and 384 counters unchanged.
The ringgit also weakened against several currencies, especially towards the close. It weakened 0.17% against the US dollar to 4.1450, it was down 0.13% to the pound sterling to 5.4044, lost 0.15% to the euro at 4.946 and weakened 0.13% to the Singapore dollar to 2.9818.
Concerns about telcos' earnings outlook saw Maxis fall 15 sen to RM5.48 and wiped out 2.10 points, Axiata seven sen to RM4.33 and erased 1.14 points while Digi shed five sen to RM4.40.
Power giant Tenaga lost 18 sen to RM12.50 and wiped out 1.82 points, MISC six sen to RM8.01, Sime Darby three sen to RM2.17, Genting two sen to RM5.44 and GentingM one sen to RM3.01.
Crude palm oil for third month delivery rose RM25 to RM2,652 per tonne.
As for plantations, Sime Plantation fell eight sen to RM5.21 and wiped out nearly pone point, IOI Corp six sen lower at RM4.50, PPB Group eight sen to RM18.66 but KL Kepong rose 20 sen to RM23.74.
US light crude oil was flat at US$52.05 and Brent lost 12 cents to US$57.20.
As for oil and gas stocks, Dialog lost seven sen to RM3.38 on profit taking after its strong financial results, Petronas Gas shed 10 sen to RM16.22 but Petronas Dagnagan added four sen to RM22.20 and Petronas Chemicals five sen higher at RM6.55.
Icon Offshore hit limit-up in early but fell six sen to 17.5 sen with 59.5 million shares done. Its 654.51 million warrants will be listed on Tuesday.
As for banks, CIMB added five sen to RM4.92 and lifted the KLCI by 0.88 of a point, HLFG climbed 26 sen to RM16.10, Maybank two sen to RM8.49, HLBank eight sen to RM15.16 while Public Bank was flat at RM17.62 but RHB Bank lost four sen to RM5.67.
Glove makers lost momentum as Top Glove lost 17 sen to RM5.68 and Hartalega seven sen to RM6.10.
On the external front, the Hang Seng index closed up 0.5% at 27,959.60, after touching its highest level since Jan. 22. The Hang Seng China Enterprises index gained 0.9%.
China's main Shanghai Composite index and the blue-chip CSI300 index rallied and erased all their losses from the steep plunge two weeks ago.
However, Japan's Nikkei 225 lost 0.69% and the Opix 0.89%, South Korea's Kospi fell 0.06%, Taiwan'sTAIEX 0.44%, Singapore's Straits Time Index 0.22%.
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