KUALA LUMPUR: The ringgit slipped against the major currencies after a slump in crude oil price while the FBM KLCI fell more than 10 points, dragged down by losses in CIMB, SapuraKencana and Public Bank.

At 5pm, the KLCI was down 10.31 points or 0.6% to 1,717.68. Turnover was 1.73 billion shares valued at RM1.68bil. Decliners beat advancers two to one with 558 losers to 251 gainers and 359 counters unchanged.

Key regional markets and also European bourses were in the red after the Doha talks to curtail crude oil production failed. US light crude fell US$1.19 to US$39.17 and Brent lost US$1.03 to US$42.07.

Reuters reported Japan's Nikkei tumbled more than 3% after a devastating earthquake in the southwest of the country, with signs from a summit in Washington that other Group of 20 governments oppose intervention against the strength of the yen also playing a role. 

Europe's major exchanges all fell by more than 0.5% on opening, while markets in Hong Kong and Shanghai lost around 1%. 

The ringgit weakened to 3.9295 against the US dollar from the previous close of 3.9030 while it slipped against the pound sterling to 5.5745 from 5.5301 and weakened against the Singapore dollar to 2.8986 from 2.8714. It weakened against the euro to 4.4430 from 4.3964.

At Bursa Malaysia, CIMB fell 17 sen to RM4.80 and erased 2.48 points from the KLCI. CIMB 's board of directors has initiated a review on its anti-money laundering processes including the US$7mil transaction chairman Datuk Seri Nazir Razak admitted to conducting.  In light of the review, Nazir has voluntarily taken a leave of absence.

Public Bank fell 12 sen to RM19.08, RHB Cap nine sen to RM6.19 and Hong Leong Bank eight sen to RM13.48 while AmBank was down four sen to RM4.56 and Maybank shed one sen to RM9.16. BIMB fell 13 sen to RM3.87.

As for oil and gas stocks, SK Petroleum fell nine sen to RM1.78 and erased 0.92 of a point, Petronas Dagangan lost 10 sen to RM23.86, Petronas Gas eight sen to RM22 and Petronas Chemicals two sen to RM6.73.

Tenaga was down two sen to RM14.38, UMW four sen to RM6.88 while Genting Bhd shed two sen to RM9.18.

AirAsia hit a speed bump, down eight sen to RM2.05 while AirAsia-X was flat at 34.5 sen and its warrants 0.5 sen lower at 18.5 sen.

Crude palm oil for third month delivery rose RM31 to RM2,672 per tonne. PPB Grpup rose 20 sen to RM4.43 while KL Kepong was flat at RM24, IOI Corp lost three sen to RM4.49 and Sime seven sen lower at RM7.90.

Ajinomoto was the top gainer, up 24 sen to RM9.02 after StarBiz reported the company, whose shares have already outperformed other stocks in Malaysia over the past 10 years, is optimistic about doubling its sales and tripling its operating profit from present figures, by financial year 2020 (FY2020) ending March 31. 

QL Resources recovered to add 13 sen to RM4.43 after the initial cautioun about its venture into the convenience store business. MSM added12 sen to RM4.84.

SKB Shutters added 11.5 sen tp 63 sen in thin trade after it secured a US$10.8mil (RM42.5mil) contract from Asia Pangasius Co. Ltd, a subsidiary of Hund Vuong Corporation in Vietnam. 

Kian Joo staged a rebound to add 10 sen to RM3.24.

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