KLCI closes lower on selling of Tenaga, Public Bank
KUALA LUMPUR: Bursa Malaysia stayed in the red throughout Wednesday on lacking of strong rerating catalysts while selling of Tenaga Nasional and Public Bank sent the FBM KLCI into the red.
At 5pm, the KLCI was down 6.34 points or 0.38% to 1,673.08. Turnover was 2.33 billion shares valued at RM1.88bil. There were 438 gainers, 358 losers and 376 counters unchanged.
On the external front, Hong Kong's Hang Seng Index rose 0.27%, helped by hopes that a shift to more stimulating policy could boost China’s economy, but investors remained cautious amid uncertainty over Brexit, trade and slowing global growth, Reuters reported.
China's Shanghai Composite was flat while Japan's Nikkei 225 fell 0.55% and Taiwan's Taiex lost 0.43%, South Korea;s Kospi rose 0.43% and Singapore's STI gained 0.28%. In Europe, the Euro Stoxx 50 rose 0.18% but UK's FTSE 100 shed 0.1%.
At Bursa, power giant Tenaga fell 26 sen to RM13.58 and erased 2.6 points from the KLCI while Press Metal fell seven sen to RM4.40 and Sime Darby three sen to RM2.33.
Public Bank gave up more than the previous day's gains, faling 28 sen to RM24.70 and wiping out 1.9 points from the KLCI. CIMB shed two sen to RM5.65, Hong Leong Bank six sen to RM20.64, RHB Bank two sen lower at RM5.40 but Maybank rose one sen to RM9.42 and AmBank five sen higher at RM4.56.
US light crude oil rose 26 cents to US$52.37 and Brent gained 42 cents to US$61.06. Petronas Gas lost eight sen to RM17.70, Petronas Dagangan unchanged to RM24.80 but Petronas Chemical edged up one sen to RM8.28 and Dialog two sen to RM2.90.
As for plantations, KL Kepong lost 10 sen to RM24.20 and PPB Group eight sen lower at RM17.44, IOI Corp rose two sen to RM4.62 while Sime Plantation gained one sen to RM5.09.
Supreme Consolidated, which made its debut on the LEAP Market, ended its first trading day at 62 sen, up 12 sen.
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