KLCI records among worst week in 2014 Friday, 5 December 2014 By: JOSEPH CHIN

KLCI records among worst week in 2014

Friday, 5 December 2014
By: JOSEPH CHIN

KUALA LUMPUR: Malaysia’s blue chips eked out small gains at Friday’s close, underpinned by gains in Petronas Dagangan and Tenaga Nasional, but it was perhaps the worst week of the year.

At 5pm, the FBM KLCI was up 3.68 points or 0.21% to 1,749.37 but year-to-date, it is down 6.3%, making it the worst performer among the key regional markets. It fell 71.52 points this week.

Friday’s turnover was 1.40 billion shares valued at RM1.81bil. There were 459 gainers, 330 losers and 308 counters unchanged.

The market was battered by the plunge in crude oil prices, weak exports and weaker ringgit.

The ringgit hit a five-year low against the dollar on a disappointing trade data on Friday, leading weekly losses among emerging Asian currencies, Reuters reported. The ringgit was at 3.4713 compared with the previous close of 3.4435.

Tenaga rose 50 sen to RM13.60 and added 4.94 points to the KLCI, recouping most of its losses freom Thursday.

US light crude oil fell 57 cents to US$66.24 and Brent was 48 cents lower at US$69.16. 

Among the big cap oil and gas (O&G) stocks, Petronas Dagangan added 80 sen to RM16.80 and pushed the KLCI up 1.39 points, Petronas Gas added four sen to to RM21.08, SKPetro two sen to RM2.51 but Petronas Chemicals fell two sen to RM5.37.

Consumer stocks were mostly higher, with Dutch Lady gaining 50 sen to RM46, F&N 40 sen to RM16.60 and Carlsberg 20 sen to RM12.08 but BAT fell RM1.78 to RM67.52 and Nestle 20 sen to RM68.50.

Crude palm oil for third month delivery fell RM7 to RM2,159 per tonne. KL Kepong fell 56 sen to RM21.84 and PPB Group 16 sen to RM14.08. Heavyweight Sime Darby was down 13 sen to RM9.51.

Among the banks, Public Bank rose 14 sen to RM18.16, Hong Leong Bank four sen to RM14 and AmBank two sen to RM6.44 but Maybank was flat at RM8.89.