KLCI snaps winning streak, but pares down losses

KUALA LUMPUR: The FBM KLCI snapped its three-day winning streak on Friday, Oct 14 in line with the weaker regional sentiment but pared down its losses toward close of the afternoon session.

The 30-stock index closed 0.17% or 2.44 points lower at 1,442.43,.

Gainers edged losers by 368 to 365, while 260 counters traded unchanged. Volume was 1.07 billion shares valued at RM1.22 billion.

At the regional markets, Hong Kong’s Hang Seng Index fell 1.36% to 18,501.79, the Shanghai Composite Index shed 0.30% to 2,431.37, Japan’s Nikkei 225 lost 0.85% to 8,747.96, Taiwan’s Taiex fell 0.95% to 7,358.08 while South Korea’s Kospi added 0.67% to 1,835.40 and Singapore’s Straits Times Index edged up 0.37% to 2,744.17.

On Bursa Malaysia, Eng Teknologi was the top loser and fell 20 sen to RM1.80 with 4.69 million shares done after the company said the Thailand floods would impact it negatively.

Other losers included Far East that fell 15 sen to RM6.80, Subur Tiasa 14 sen to RM2.13, Genting Malaysia down 13 sen to RM3.65, Genting 12 sen to RM9.90, while MPI, IOI Corp, Gamuda and CIMB lost 10 sen each to RM3.18, RM5.03, RM3.03 and RM7.30 respectively.

OSK and RHB Capital advanced after both received Bank Negara’s approval in principle to start possible merger negotiations.

OSK rose nine sen to RM1.77 with 49.2 million shares done, while RHB Capital added four sen to RM7.48 with 2.55 million shares traded.

Other actives included KUB, Timecom, Zelan, MAA, UOA Development, Malton, Harvest and YTL Land.

Among the gainers, Digi jumped RM1.12 to RM32, HLFG 48 sen to RM11.58, Malayan Flour Mills 40 sen to RM7.40, Tahps and Atlan 20 sen each to RM4.10 and RM3.20, BLD PLANTATION []s 19 sen to RM6.19, Petronas Gas and BAT 16 sen each to RM13.22 and RM44.66, while KFCH added 15 sen to RM3.46.