Skip to Content

Monday, August 26th, 2019

FBM KLCI back in the red, regional markets mixed

Closed
by September 27, 2017 General

KUALA LUMPUR: The FBM KLCI headed into the red after spending some time in positive territory even as regional markets weighed tensions in the Korean peninsula and expectations of progress on major tax reform in the US. 

At 12.30pm, the FBM KLCI was down 2.14 points to 1,763.45. There were 288 decliners versus 279 advancers and 470 counters unchanged. Turnover was 1.03 billion shares with a value of RM785.56mil.

Asian markets were mixed at noon as China and Hong Kong stocks rose on positive August industrial profit data.

South Korea’s Kospi was little changed at 2,374.35 points as investors stood by the sidelines on geopolitical risk and ahead of the long holiday break next week. 

Japan’s Nikkei was in the red, dipping 0.3% to 20,270.97 points at midday break as ex-dividend share price adjustments dented high yielders such as automakers, according to Reuters.

On the local bourse, banking stocks were on the decline with Maybank losing two sen to RM9.78, CIMB losing five sen to RM6.29 and RHB losing one sen to RM5.13. Hong Leong added two sen to RM15.82 while Public Bank was unchanged at RM20.56.

The plantations sector saw IOI adding two sen to RM4.55, PPB rising two sen to RM16.82, KL Kepong dropping six sen to RM24.50 and Sime Darby unchanged at RM9.04. 

Heavyweights Genting dropped 11 sen to RM9.57 while Tenaga Malaysia shaved six sen to RM14.34. BAT gained 14 sen to RM44.26.

Among Petronas-related stocks, Petronas Gas gained eight sen to RM18.18, Petronas Chemicals dipped two sen to RM7.30 and Petronas Dagangan lost four sen to RM24.42.

Among top gainers on Bursa, Globetronics rose eight sen to RM6.05, Hartalega gained 16 sen to RM6.71 and JHM gained 15 sen to RM3.02

Among the decliners, Panasonic Malaysia fell 92 sen to RM38, Superlon fell 40 sen to RM2.36 and Ajinomoto continued its downward trend, dropping 18 sen to RM20.04.

Brent oil prices were on the rise on Wednesday to sit not far off 26-month highs hit in the previous session amid threats from TUrkey that it could cut crude exports fom Iraq’s Kurdistan region, Reuters reports.

Brent Crude was up 0.38% to US$58.66 a barrel while WTI Crude was up 0.5% to US$52.14 a barrel.

The US dollar strengthened amid increased expectations of a US interest hike increase in December. The ringgit weakened 0.3% against the greenback to 4.2192, and fell 0.07% against the Singapore dollar at 3.1105. It strengthened against the pound sterling at 5.6666.

Previous
Next