KUALA LUMPUR: Blue chips closed lower on Wednesday weighed down by losses in glove makers while a fall in crude palm oil (CPO) prices dragged plantations into the red.
At 5pm, the FBM KLCI was down 3.05 points or 0.19% to 1, 579.32. Turnover was 4.68 billion shares valued at RM3.13bil. Decliners beat advancers nearly two to one or 668 losers to 349 gainers and 449 counters were unchanged.
CPO for September 2021 fell RM144 to RM3,542 per tonne. Among the plantations, Genting Plantation fell the most, down 31 sen to Rm7.17 and KL Kepong 26 sen to RM20.76, IOI Corp and Sime Plantation four sen lower to RM3.85 and RM4.10 but PPB Group edged up four sen to RM18.54.
As for glove makers, Hartalega fell 15 sen to RM8.33, Top Glove eight sen to RM4.66 and Supermax four sen to RM3.70.
Among the banks, Maybank fell three sen to RM8.17, Public Bank was flat at RM4.21 but CIMB edged up one sen to RM4.63 and Hong Leong Bank rose six sen to RM18.86.
Oil gained for a fifth day on Wednesday, climbing towards US$75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a drop in US crude inventories, Reuters reported.
Among the energy stocks, Petronas Gas ended the day 12 sen higher at RM16.02, Petronas Chemicals edged up one sen to RM8.11 but Petronas Dagangan lost two sen to RM19.02.
As for Axiata, it gained seven sen to RM3.99 and Digi six sen to RM4.30 as investors were upbeat about the proposed merger.
Helping to support the KLCI were IHH and MISC, which rose 10 sen each to RM5.67 and RM7.11, while Tenaga was up eight sen to RM10.02.
With the lockdown continuing until June 28, MAHB extended its decline by 17 sen to RM6.28.
Among the other KLCI stocks, Press Metal was down 19 sen to RM4.91, GentingM and Genting lost nine sen each to RM2.91 and RM5.05.
As for consumers stocks, Nestle fell 80 sen to RM134.60, F&N 52 sen to RM26 and Carlsberg 50 sen to RM22.26.
Serba Dinamik ended down 3.5 sen to 54.6 sen with 139 million shares done.
Berjaya Corp fell 3.5 sen to 30 sen with 116 million shares done, giving up the previous day’s gains.
Euro Holdings hit limit-down in early trade, plunging 51 sen to RM1.21 and continued to stay at that level the whole day.
On the external front, China shares ended lower on Wednesday, dragged down by losses in material and healthcare stocks, as investors worried over lofty valuations and the outcome of a US Federal Reserve meeting that could prompt foreign outflows.
At the close of trade, the Shanghai Composite index was down 1.07% at 3, 518.33 and the blue-chip CSI300 index lost 1.67%, having finished weaker on Tuesday.
Japan’s Nikkei 225 fell 0.51%, Hong Kong’s Hang Seng Index 0.7%, Singapore’s STI fell 1.1% but South Korea’s Kospi rose 0.6%.