Another late sell-off but Maybank arrests decline – Business News


KUALA LUMPUR: Malaysia’s blue chips closed lower again on Tuesday on late selling of Genting and Petronas stocks but Maybank and SP Setia advanced in active trade.

At 5pm the KLCI was down 3.88 points or 0.22% to 1,733.61. Turnover was 2.98 billion shares valued at RM2.60bil. Decliners beat advancers nearly two to one or 546 to 276 while 473 counters were unchanged.

The ringgit weakened against major currencies, snapping its recent gains. It slipped 0.05% against the US dollar to 4,1935; weakened 0.47% to the pound sterling at 5.5021 and edged 0.05% lower to the Singapore unit at 3,0792 while it sank 0.64% to the euro at 4.9109.

Japan’s Nikkei share average ended little changed on Tuesday in choppy trade, with semiconductor equipment makers attracting buyers while Mizuho Financial Group fell on downbeat earnings. 

Oil prices held largely steady on Tuesday as the prospect of further rises in US output offset some of the optimism that Opec-led production cuts would tighten the balance between crude supply and demand. US light crude fell 15 cents to US$56.61 and Brent lost 13 cents to US$63.03.

Petronas Gas skidded 46 sen to RM16.98, Petronas Chemicals fell five sen to RM7.40 though Petronas Dagnagan edge dup just tow sen to RM23.72.

Refiners Petron fell 44 sen to RM12.26 and Hengyuan 20 sen lower at RM10.40 on profit taking though they were included in the MSCI Small Cap Index on Nov 30. 

Genting Bhd fell 27 sen to RM9.08 and erased 1.76 points from the KLCI, Genting Malaysia lost 11 sen to RM4.94 and erased 1.1 points from the KLCI. 

As for tech-related stocks, PMB Tech fell 40 sen to RM4.05, KESM 32 sen to RM18.60 and Vitrox 25 sen to RM5.60 but Pentamaster added 39 sen to RM5.25.

Maybank rose 18 sen to RM9.34 and supported the KLCI with a 3.29 gain. Public Bank, AmBank and RHB Bank were flat at RM20.46, RM4.35 and RM4.83 respectively while Hong Leong Bank fell two sen to RM15.96 and CIMB four sen lower at RM6.09.

As for plantations, IOI Corp and KL Kepong fell six sen each to RM4.36 and RM24.50, Sime Darby three sen to RM9.03 and PPB Group was flat RM16.72.

Among the telcos, Telekom lost 11 sen to RM6.01, Digi shed two sen to RM4.81, Maxis was flat at RM5.95 while Axiata added one sen to RM5.35.

SP Setia, which is included in the MSCI Index, jumped 17 sen to RM3.42 in active trade.

Nestle was the top gainer, surging to a record high of RM94.84 before ending the day at RM91.30, up RM2.66.


Read more : thestar

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