Market Close KLCI extends losses; Tenaga down

by **Cals** Tue 01 Dec 2015, 00:39

- Market Close
KLCI extends losses; Tenaga down
By Gho Chee Yuan / theedgemarkets.com | November 30, 2015 : 5:49 PM MYT

KUALA LUMPUR (Nov 30): The FBM KLCI fell 10.43 points or 0.62% amid an extended selloff in Chinese stocks.
At 5pm, the KLCI closed at 1,672.16 points. Last Friday, the KLCI fell 0.5 point to 1,682.59.
Today, the decline in Tenaga Nasional Bhd ([You must be registered and logged in to see this image.] Valuation: 1.20, Fundamental: 1.30) shares weigh down the KLCI.
Tenaga, the fifth-largest decliner across Bursa Malaysia, fell 24 sen or 2% to RM13.36 with some 29 million shares done.
Shares of state-owned utility Tenaga fell after it said it was appealing against the Inland Revenue Board's RM2.07 billion additional tax notices.
In China, Reuters reported that China stocks ended flat after a highly volatile session, with major indexes swinging wildly in and out of negative territory following Friday's more than 5% slump.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.3%, to 3,566.41 points, while the Shanghai Composite Index also gained 0.3%, to 3,445.40 points.
In Malaysia, Inter-Pacific Research Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com "the market's down trend is just a continuation from last week".
Pong said investors were still mindful of several factors. These included low crude oil prices, China's slowing economic growth and likelihood of the US raising its interest rate this month.
"Some of the factors, such as the Fed's rate hike decision will persist, and as it draws nearer, it would take a bigger toll on Asian markets," Pong said.
Bursa Malaysia saw 679 decliners and 270 gainers while 281 counters traded unchanged. Volume was 2.51 billion shares valued at RM3.79 billion.
Panasonic Manufacturing Malaysia Bhd ([You must be registered and logged in to see this image.] Valuation: 2.40, Fundamental: 2.80) was the top gainer while British American Tobacco (M) Bhd ( Valuation: 1.50, Fundamental: 1.35) led decliners.
The most-actively traded stock was Borneo Oil Bhd ([You must be registered and logged in to see this image.] Valuation: 0.90, Fundamental: 1.25).
(Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

Market Close KLCI extends losses; Tenaga down

Market Close KLCI extends losses; Tenaga down

KLCI extends losses; Tenaga down

By Gho Chee Yuan / theedgemarkets.com | November 30, 2015 : 5:49 PM MYT