KUALA LUMPUR: Blue chips closed weaker on Friday, July 2, the fifth straight day of losses for the FBM KLCI as investors stayed on the sidelines following the batch of negative international economic data and corporate developments.
The FBM KLCI closed 1.32 points lower at 1,307.44. Turnover was 626.19 million shares valued at RM974 million. Losers beat gainers 300 to 186 while 263 stocks were unchanged.
Genting Malaysia was in focus, down 12 sen to RM2.62, the lowest since May 27 as investors reacted negatively to its proposal to acquire Genting Singapore's under-performing UK operations, which analysts said was at the higher-end of peers' valuation.
Genting Malaysia was the second most active counter with 83 million shares done. Genting-CN lost 10 sen to 80 sen.
Tanjong fell 24 sen to RM17.06 after the Ministry of Finance raised the pool betting duty.'' MPHB managed to rebound to close three sen higher to RM1.99, off the intra-day low of RM1.90. Berjaya Sports Toto lost 10 sen to RM4.12.
Other decliners among the 30-stock FBM KLCI were CIMB, down four sen to RM7.04, Axiata two sen to RM3.88 and HLFG six sen to RM8.30.
However, GENTING BHD [] rose nine sen to RM7.25, Maybank three sen to RM7.57 after it was upgraded to a Buy from Hold by AmResearch while Tenaga added four sen to RM8.40 and YTL five sne to RM7.40.
DFZ was the top loser, down 25 sen to RM3.44.'' IRCB fell 14 sen to 64 sen with 33.5 million shares done after proposing a share capital reduction and rights issue.
Carotech lost 4.5 sen to nine sen in very active trade after defaulting on the principal amd interest servicing for certain loans. Hovid, which owns 58% of Carotech, lost 3.5 sen to 17 sen.
Among the gainers were Nestle, up 18 sen to RM34.86, Proton 15 sen to RM4.57 and EON Cap 11 sen to RM6.98.
The FBM KLCI closed 1.32 points lower at 1,307.44. Turnover was 626.19 million shares valued at RM974 million. Losers beat gainers 300 to 186 while 263 stocks were unchanged.
Genting Malaysia was in focus, down 12 sen to RM2.62, the lowest since May 27 as investors reacted negatively to its proposal to acquire Genting Singapore's under-performing UK operations, which analysts said was at the higher-end of peers' valuation.
Genting Malaysia was the second most active counter with 83 million shares done. Genting-CN lost 10 sen to 80 sen.
Tanjong fell 24 sen to RM17.06 after the Ministry of Finance raised the pool betting duty.'' MPHB managed to rebound to close three sen higher to RM1.99, off the intra-day low of RM1.90. Berjaya Sports Toto lost 10 sen to RM4.12.
Other decliners among the 30-stock FBM KLCI were CIMB, down four sen to RM7.04, Axiata two sen to RM3.88 and HLFG six sen to RM8.30.
However, GENTING BHD [] rose nine sen to RM7.25, Maybank three sen to RM7.57 after it was upgraded to a Buy from Hold by AmResearch while Tenaga added four sen to RM8.40 and YTL five sne to RM7.40.
DFZ was the top loser, down 25 sen to RM3.44.'' IRCB fell 14 sen to 64 sen with 33.5 million shares done after proposing a share capital reduction and rights issue.
Carotech lost 4.5 sen to nine sen in very active trade after defaulting on the principal amd interest servicing for certain loans. Hovid, which owns 58% of Carotech, lost 3.5 sen to 17 sen.
Among the gainers were Nestle, up 18 sen to RM34.86, Proton 15 sen to RM4.57 and EON Cap 11 sen to RM6.98.
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