Investors take profit after long weekend


KUALA LUMPUR: The FBM KLCI closed lower on Tuesday after last week’s strong performance, as bank shares dragged.

The 30-stock index closed down 9.58 points, or 0.64% to 1,476.96 after moving between 1,486.68 and 1,467.26.

The broader market was optimistic with 564 gainers compared with 409 decliners. Trading volume was RM3.4bil shares valued at RM2.5bil.

Among the 30 FBM KLCI constituents, PETRONAS Chemicals shed 56 sen to RM8.52, Hong Leong Financial Group fell 12 sen to RM19, Public Bank eased 11 sen to RM4.41 and IOI Corp declined 10 sen to RM3.88.

PETRONAS Dagangan rose 32 sen to RM22.40, Tenaga added 24 sen to RM9.02, PETRONAS Gas gained 10 sen to RM16.72 and Kuala Lumpur Kepong climbed eight sen to RM21.14.

On the broader market, Malaysian Pacific Industries fell 40 sen to RM27, Hextar Technologies lost 40 sen to RM13.20 and Batu Kawan eased 20 sen to RM21.26.

Ralco Corp hit limit up, jumping 30 sen, or 46.88% to 94 sen. The counter rose 51.61% in the past one month.

Master-Pack Group added 24 sen to RM2.43, Dutch Lady rose 22 sen to RM31.06 and Ayer gained 20 sen to RM6.20.

Reuters reported that ringgit depreciated 0.6% for its biggest percentage loss since April 25 as uncertainties around the country's political footing dampened investor sentiment.

Since mid-last week, when Malaysia got a new leader, the ringgit has appreciated 1.5%, but the unit lost more than 7% so far this year.

At 5.12pm, the local unit was quoted at 4.5083, down 0.63% against the US dollar.

Meanwhile, Asian bourses closed higher today, with Japan's Nikkei 225 losing 0.48%, South Korea’s Kospi closed up 1.04%, Hong Kong’s Hang Seng added 5.24% and China’s Shanghai Composite rose 2.31%.

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KLCI , FBM KLCI , Bursa Malaysia

   

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