KUALA LUMPUR: Most banks and Tenaga Nasional closed lower on Wednesday ahead of the release of their earnings while investors continued to pile into glove makers on expectations of more supernormal earnings.
At 5pm, the KLCI was down 2.47 points or 0.16% to 1,575.38. Turnover was 8.55 billion shares valued at RM7bil. There were 614 gainers, 447 losers and 383 counters unchanged.
As for banks, Maybank rose one sen to RM7.64 but Public Bank fell 18 sen to RM17.48, CIMB four sen to RM3.46 and Hong Leong Bank six sen lower at RM14.54.
Tenaga Nasional fell 16 sen to RM11, Genting nine sen to RM3.80 and GentingM five sen to RM2.30 and Sime Darby one sen to RM2.16.
Glove makers were among the top gainers except for Hartalega which fell 36 sen to RM17.20 and erased 1.19 points from the KLCI.
Top Glove rose RM1.06 to RM27.14 and added 4.43 points to the KLCI, HLT 31 sen to RM2.02, Adventa 29 sen to RM3.22 while Supermax gained 14 sen to RM20.94.
Consumer stocks led the decliners with Nestle down RM2.70 to RM139.80, Dutch Lady 90 sen to RM38, F&N 66 sen to RM32.30, Carlsberg 36 sen to RM23.10 and Heineken 30 sen to RM21.50. However, Ajinomoto
XOX was the most active with 616.71 million shares done, up 0.5 sen to 19.5 sen.
Maxis and Digi lost three sen each to RM4.98 and RM4.19 and Axiata two sen to RM3.08 but Telekom gained four sen to RM3.74.
Petronas Chemicals added five sen to RM6.20, Petronas Gas was flat at RM16.38 but Petronas Dagangan lost 52 sen to RM20.50. Dialog’s strong results saw it advanced eight sen to RM3.74.
Sime Darby Plantation and KL Kepong edged up two sen each to RM5.07 and RM22.60, IOI Corp shed two sen to RM4.53 while PPB Group was 18 sen lower at RM19.42.
Reuters reported the US dollar was a whisker above a 27-month low hit overnight, after a record run for stocks on Wall Street added to pressure on the currency from simmering trade tensions between Washington and Beijing.
The greenback was broadly flat at 92.15 against a basket of currencies in early European trading and just a shade above a April 2018 low of 92.124 seen on Tuesday.
Among the key Asian markets, the Shanghai Composite index was down 1.24% at 3,408.13 and the blue-chip CSI300 index fell 1.5%.
The Hang Seng index was down 188.47 points, or 0.74%, at 25,178.91. The Hang Seng China Enterprises index fell 1.08% to 10,313.31
The Nikkei share average rose 0.26% to 23,110.61, after two straight sessions of losses. The broader Topix edged up 0.18% to 1,613.73. In dollar terms, it stood at 219.10, just 0.3% below its 2019 peak, which was the highest since 1990.
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