No respite for Asian markets, IOI, Maybank weigh on KLCI

KUALA LUMPUR: All key regional markets ended in the red on Wednesday, with their key indices falling up 1.5% on worries about political uncertainties in Greece while at Bursa Malaysia, IOI and Maybank weighed on the FBM KLCI.

The KLCI closed down 5.7 points or 0.36% to 1,584.9, with most of the top 10 losers being blue chips. Turnover was 1.28 billion shares valued at RM1.41bil. Losers beat gainers 450 to 273 while 313 counters were unchanged.

Reuters reported Hong Kong's Hang Seng Index fell nearly 0.8%, extending a losing streak into a fifth day on worries that political uncertainty in Greece could lead the unravelling of its hard-won bailout deal.

Political uncertainty in China added to jitters. The Communist Party may delay its upcoming five-yearly congress as the party struggles to finalise a once-in-a-decade leadership change.

The Shanghai Composite Index lost 1.7 percent in relatively weak bourse volume.

The Hang Seng Index shed 0.75% to 30,330.64, Singapore's Straits Times Index 1.06% to 2,900.91 and Japan's Nikkei 225 1.49% to 9,045.06.

At Bursa Malaysia, the top losers were blue chips but volume was not heavy.

IOI fell six sen to RM5.24, erasing 0.91 of a point off the KLCI while Maybank shed five sen to RM8.70, wiping out 0.9 of a point. Genting Malaysia fell seven sen to RM3.76 and Genting six sen to RM10.60.

BAT was the top loser, down 64 sen to RM55.04, PetDag and HLFG 24 sen each to RM19.70 and RM11.94 while MISC lost 13 sen to RM4.46.

Down 12 sen each were PPB and MMHE to RM16.60 and RM4.88 while MSM fell 11 sen to RM5.20 and IJM 10 sen to RM5.44.

Naim Indah was the most active with 80.28 million shares done, ending the day unchanged at 49 sen. Harvest fell 2.5 sen to 68.5 sen and the warrants 2.5 sen to 52.5 sen.

Among the index stocks, YTL rose three sen to RM1.76, Public Bank two sen to RM13.72 and CIMB one sen to RM7.64.

TAHPS was the top gainer in thin volume, up 30 sen to RM5. GAB added 20 sen to RM13.54, YHS and Kellington nine sen each to RM3.02 and RM1.06.

Sunway added seven sen to RM2.37, MTDACPI four sen to 42 sen, TRC and Muhibbah one sen each to 73.5 sen and RM1.30.

The Mass Rapid Transit Corporation (MRT Corp) awarded four more packages for the construction of the Sg Buloh - Kajang (SBK) MRT Line worth RM3.22bil.

MRT Corp announced that four packages were awarded to Syarikat Muhibbah Perniagaan & Pembinaan Sdn Bhd, Sunway Construction Sdn Bhd, MTD Construction Sdn Bhd and Trans Resources Corporation Sdn Bhd.