Bursa closes off intra-day high, banks and energy stocks mixed

KUALA LUMPUR: Bursa Malaysia closed off the day's best on Wednesday while banks, energy and plantation stocks were mixed despite gains in crude palm oil (CPO) and oil prices.

At 5pm, the FBM KLCI was up 3.16 points or 0.22% to 1,464.61, giving up part of the earlier gains as investors turned cautious.

Turnover was 7.30 billion shares valued at RM3.36bil. There were 702 gainers, 377 losers and 397 counters unchanged.

The ringgit weakened 0.21% against the US dollar to 4.1667.

On the external front, Japan's Nikkei 225 rallied 1.72%, China's edged up 0.19%, Taiwan's Taiex added 1.04%, South Korea's Kospi 0.6% and Singapore's Straits Times Index 0.79%. Hong Kong's Hang Seng Index shed 0.21%.

Covid-19 vaccines could cost the government at least RM3bil once it is available next year, says Khairy Jamaluddin. The Science, Technology and Innovation (Mosti) Minister said this would be the cost if 70% of the population is immunised.

Top Glove lost 22 sen to RM8.10 and erased 2.77 points from the KLCI but Hartalega gained eight sen to RM17.84 and 0.42 of a point. Supermax lost 11 sen to RM8.84.

However, Pharmaniaga gained 28 sen to RM5.16 and Duopharma 26 sen to RM3.97. Both companies will be distributors for the Covid-19 vaccine.

CPO for third month delivery rose RM20 to RM3,090 per tonne. KL Kepong rose 58 sen to RM22.26, IOI Corp eight sen to RM4.42 but PPB Group fell eight sen to RM18.28 and Sime Plantation three sen to RM4.83.

Among the banks, Maybank and Hong Leong Bank were flat at RM7 and RM14.52, CIMB edged up two sen to RM2.97, one sen to RM4.25 but Public Bank lost 10 sen to RM14.86.

US light crude oil rose 22 cents to US$37.88 and Brent 28 cents to US$39.99. Petronas Chemicals rose 13 sen to RM6.05 and added 1.6 points to the KLCI, Petronas Gas shed six sen to RM15.80 and Petronas Dagangan lost eight sen to RM17.50.

Dialog added three sen to RM3.65.

Tenaga added nine sen to RM9.64, MISC 12 sen to RM6.70, Sime Darby six sen higher to RM2.41.

Consumer stocks were among the top gainers with Carlsberg added 74 sen to RM19.44 and Nestle 70 sen to RM139.70 and Heineken 42 sen to RM18.54.

As for chip maker, MPI jumoed 74 sen to RM22.60 and UWC 25 sen to RM6.74 but Pentamaster lost 10 sen to RM5.

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