KLCI closes Thursday lower weighed by banks, Petronas stocks

KUALA LUMPUR: Banks, plantations and Petronas-linked stocks continued to drag the FBM KLCI on Thursday’s close from lack of buying interest, as investors stayed on the sidelines in tandem with the weaker regional markets.

At 5pm, the KLCI closed down 8.49 points or 0.47% to 1,818.15. Turnover was 2.52 billion shares valued at RM2.083bil. There were 318 gainers, 483 decliners and 302 counters unchanged.

Reuters reported Asian shares stepped back from three-week highs on Thursday, snapping a five-session winning streak that was underpinned by receding concerns about global growth prospects and reassurance over US monetary policy.

It said there was also an element of caution, with some investors restraining bullish instincts until they see more solid evidence of a strengthening global economy.

At Bursa Malaysia, CIMB fell 10 sen to RM7.09, dragging the index by 1.48 points.

HLCap fell 22 sen to RM10.20.

Plantations fell with KL Kepong down 70 sen to RM23.52, PPB Group 32 sen to RM15.50 and Genting Plantations 12 sen to RM10.48.

Crude palm oil rose RM23 to RM2,658.

Oil and gas counters fell with PetDag down 18 sen to RM30.20, PetGas 16 sen to RM22.98, UMWOG 13 sen to RM4.35 and Shell 12 sen to RM6.55.

Consumer stocks were mixed with GAB up 24 sen to RM15.08 but BAT fell 30 sen to RM60.20.

MISC rose 30 sen to RM6.50 on higher quarterly earnings.

The ringgit was unchanged at 3.3225.

Among the key regional markets,

Japan’s Nikkei 225 fell 1.79% to 14,534.74;

Hong Kong’s Hang Seng Index fell 0.54% to 22,165.53;

Shanghai’s Composite Index fell 0.55% to 2,098.40;

Taiwan’s Taiex fell 0.51% to 8,467.7;

South Korea’s Kospi fell 0.46% to 1,926.96;

Singapore’s Straits Times Index rose 0.14% to 3,039.55.

US light crude oil fell 88 cents to US$99.49 and Brent fell 58 cents to US$108.21.

Spot gold fell US$2.59 to US$1,288.56.