Telcos, Genting weigh on KLCI, Dataprep hits limit-down

KUALA LUMPUR: Telcos staged a pullback and weighed on the FBM KLCI on Monday while IHH Healthcare and MAHB fell on concerns about their operations in Turkey.

Genting also gave up part of the recent gains while Dataprep hit limit-down in active trade.

At 5pm, the KLCI was down 9.46 points or 0.58% to 1,616.73. Turnover was 7.56 billion shares valued at nearly RM4bil. Decliners beat advancers nearly two to one or 744 losers to 392 gainers while 422 counters were unchanged.

Reuters reported global stocks slid and the Turkish lira tumbled towards a record low against the dollar after President Tayyip Erdogan shocked investors by replacing Turkey's hawkish central bank governor with a critic of high interest rates.

In Asia, Hong Kong stocks fell, as fears of prolonged lockdowns in some European countries dampened recovery hopes while a plunge in the Turkish lira also hit investor sentiment. The Hang Seng index fell 0.4%, to 28,885.34, while the China Enterprises Index gained 0.2%, to 11,306.71.

However, China stocks ended higher on Monday, underpinned by banking and infrastructure shares, as the country's central bank kept its key lending rate for corporate and household loans unchanged. The CSI300 index rose 0.7% to 5,042.82 points at the end of the morning session, while the Shanghai Composite Index climbed 0.9% to 3,435.41 points.

At Bursa, IHH Healthcare fell 17 sen to RM5.31 while MAHB lost 10 sen to RM6.54 on investors’ concerns about the impact on their operations in Turkey.

Among the plantations, KL Kepong fell 38 sen to RM23.10, Chin Teck Plantations 28 sen to RM6.90, PPB Group six sen lower to RM18.54, Sime Plantation unchanged at RM4.85 but IOI Corp rose three sen to RM4.27.

Sime Darby lost 13 sen to RM2.39, giving up last Friday’s late gains, Genting 17 sen lower to RM5.36 and GentingM two sen to RM3.16.

However, Tenaga rose 20 sen to RM10.76 and help offset some of the losses of the KLCI stocks.

As for glove makers, Supermax fell six sen to RM4.25, Top Glove one sen to RM5.40 but Hartalega edged up one sen to RM9.70.

Dataprep hit limit-down, tumbling 75 sen to RM1.75 – the lowest since March 3 despite last week’s reassurance about its new venture. Earlier, Bursa Securities cautioned investors about the recent rally in its share price.

As for tech and chip makers, Vitrox lost 34 sen to RM14.98, MPI 26 sen to RM37.10, Genetec 17 sen to RM4.64. However, KESM climbed 36 sen to RM12.06 and Unisem 17 sen to RM7.86.

G3 extended its decline from last Friday, sliding 15.5 sen to 85.5 sen ahead of its bonus shares going ex on Tuesday.

Among the oil and gas stocks, Petronas Gas added 16 sen to RM15.74, Petronas Dagangan lost 20 sen to RM20.10 while Dialog bucked the trend to edge up two sen to RM10.76.

As for banks, Public Bank shed one sen to RM4.22, Hong Leong Bank two sen to RM19.08, Maybank five sen to RM8.33 and CIMB eight sen to RM4.50.

Among the telcos, TM and Maxis lost 12 sen each to RM6.20 and RM4.63, Digi eight sen to RM3.66 and Axiata five sen to RM3.80.

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