Tuesday, September 20, 2011

Petronas-linked counters, banks weigh on KLCI

KUALA LUMPUR: Losses including at Petronas-linked and banking stocks weighed on the FBM KLCI at the mid-day break on Tuesday, Sept 20 as negative sentiment kept investors on the sidelines.

A dealer said foreign funds were mainly responsible for the sell down in the shares of these companies due to external factors and had nothing to do with the companies' fundamentals, which he described as being sound.

At 12.30pm, the FBM KLCI was down 0.22% or 1,410.05. The index had earlier fallen to its intra-morning low of 1,404.27.

Losers beat gainers by 416 to 148, while 262 counters traded unchanged. Volume was 356.74 million shares valued at RM605.73 million.

The ringgit weakened 0.70% to 3.1375 versus the US dollar; crude palm oil futures for the third month delivery gained RM21 per tonne to RM3,061, crude oil added two cents per barrel to US$85.72 while gold rose US$2.19 an ounce to US$1,780.87.

At the regional markets, Japan's Nikkei 225 lost 1.44% to 8,736.59 and Taiwan's Taiex shed 0.19% to 7,466.92.

Meanwhile, Hong Kong's Hang Seng Index edged up 0.10% to 18,936.83, the Shanghai Composite Index rose 0.41% to 2,447.80, South Korea's Kospi gained 0.34% to 1,827.12 and Singapore's Straits Times Index added 0.18% 2,762.19.

On Bursa Malaysia, Petronas Chemicals saw some RM1.84 billion erased from its market capitalisation after it fell 23 sen to RM5.82 with 22.2 million shares done.

Petronas Dagangan fell 20 sen to RM17, Petronas Gas 18 sen to RM13.54, Public Bank 16 sen to RM12.64, CIMB six sen to RM6.84, RHB Capital three sen to RM8.13, Nestle 76 sen to RM49, Panasonic 40 sen to RM19.50, IJM Corp 24 sen to RM5.06 and JobStreet 23 sen to RM2.50.

Among the gainers, BAT added 34 sen to RM44.10, United PLANTATION []s down 28 sen to RM18, Sime Darby 18 sen to RM7.88, Rimbunan Sawit 17 sen to RM2.24, Lysaght, HLFG and DiGi gained eight sen each to RM1.68, RM11.12 and RM30.58 respectively, while Hong Leong Bank rose six sen to RM10.62.

The actives included MRCB, Takaso, UEM Land, Key West, Axiata and Dialog.


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