Friday, May 20, 2011

Late selling drags KLCI into the red

KUALA LUMPUR:'' Late selling on selected key index stocks especially telcos'' dragged the FBM KLCI into the red on Friday, May 20, but the broader market was cautious ahead of the weekend.

At 5pm, the KLCI was down 2.99 points or 0.19% to 1,541.03 while year-to-date, it is up just 1.46%. Turnover was 869.31 million shares valued at RM1.36 billion. There were 361 gainers, 378 losers and 342 stocks unchanged.

Key Asian markets were mostly lower, with Singapore's Straits Times Index down 0.13% at 3,168.54, Taiwan's Taiex fell 0.63% to 8,837.03 and Shanghai's Composite Index 0.04% lower at 2,858.46 and Japan's Nikkei 225 eased 0.14% to 9,607.08.'' However, Hong Kong's Hang Seng Index added 0.16% to 23,199.39.

Crude palm oil third-month futures rose RM35 to RM3,395 and US light crude oil rose 96 cents to US$99.40.

At Bursa Malaysia, telcos were among the major losers, with DiGi down 22 sen to RM28.60, Axiata and Maxis three sen each to RM4.95 and RM5.40 while TM was unchanged at RM4.17.

Genting Malaysia fell seven sen to RM3.55and Genting six sen lower at RM11.18. Their combined losses dragged the 30-stock index down by 1.17 points.

BAT was the top loser, down 36 sen to RM46m HLFG 18 sen to RM11.56 and Guan Chong 14 sen to RM2.93.

PacificMas fell 12 sen to RM4.14 after the management brushed off speculation that uits parent Oversea-Chinese Banking Corp Ltd would inject its Malaysian banking ot insurance asserts into the company.

Among the gainers were Dutch Lady, up 44 sen to RM18.28, Esso 32 sen to RM5.12, Tradewinds PLANTATION []s 23 sen to RM4.05 and Tradewinds 20 sen to RM10.48.

KLK added 20 sen to RM22, Top Glove and PPB 16 sen each to RM17.28 and RHB Cap 15 sen to RM9.25.

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