Blue chips ended lower on Thursday, with the FBM KLCI losing nearly
eight points in intra-day trade, as funds cut their stakes in Maybank
and telco stock while crude oil remained volatile and the ringgit
extended its losses.
At 5pm, the KLCI was down 7.51 points or 0.45% to 1,670.55. Turnover was 1.81 billion shares valued at RM2.03bil. Decliners beat advancers two to one or 564 losers to 279 gainers while 359 counters were unchanged.
The ringgit was weaker against the key currencies, sliding to 4.0790 against the US dollar from 4.0675 the previous day, it was lower against the pound sterling at 5.4077 from 5.3451 and weakened against the Singapore dollar at 2.9916 from 2.9826. It floundered against the Euro to 4.5498 from 4.5306.
Among the banks and finance stocks, Maybank was the the biggest drag on the KLCI when it erased 1.15 points, sliding seven sen to RM7.75.
HLFG lost 14 sen to RM15.94, AmBank fell seven sen to RM7.75, RHB Bank
lost six sen to RM4.94, CIMB and Public Bank four sen lower to RM4.76
and RM19.76 while Hong Leong Bank shed two sen to RM13.06.
Maxis fell nine sen to RM6.19 and erased 1.11 points from the KLCI, Axiata ended down seven sen to RM7.81 and wiped out 1.03 points while Digi and Telekom shed one sen each to RM5.01 and RM6.83.
CIMB Equities Research is maintaining its Neutral sector rating and Hold ratings on all three mobile operators – Axiata, Digi and Maxis.
While it sees some stabilisation in price competition recently, the research house expects the market to remain competitive as it is over-crowded with four existing players, and new players Webe and YES (to lesser extent) now joining the fray.
Among the heavyweights, Tenaga lost four sen to RM14.70 while MISC shed one sen to RM7.55, IHH Healthcare added two sen to RM6.56 and Genting Bhd recovered from the previous day's selloff to rebound 10 sen to RM7.90.
Crude palm oil for third-month delivery fell RM6 to RM2,520 per tonne. United Plantations fell 20 sen to RM27.50, Genting Plantations 16 sen to RM10.44, IOI Corp two sen lower at RM4.40, KL Kepong and PPB Group were flat at RM23.58 and RM16.08. FGV lost five sen to RM2.22.
SP Setia fell 18 sen to RM3.31 with 2.93 million shares done.
US light crude oil lost eight cents to US$44.62 and Brent was down 18 cents to US$46.71.
As for oil and gas companies, Petronas Gas fell the most, down 14 sen to RM22.06, Petronas Dagangan four sen lower at RM23.36 and Petronas Chemicals flat at RM6.69 while SK Petro ended four sen lower at RM1.54.
Consumer stocks again found favour with investors, with Dutch Lady up RM1.64 to RM60.84, Nestle gained RM1.16 to RM80, Carlsberg gained 30 sen to RM15, BAT 22 sen higher at RM49.44 and F&N climbed 18 sen to RM24.58.
Hong Kong shares rose on Thursday and the main index finished at the highest level in more than a year, helped by capital inflows from the mainland.
The Hang Seng index rose 0.8% to 23,162.34, the highest since Aug 19, 2015. The China Enterprises Index was up 0.7%, to 9,606.08.
Among the key regional markets,
Japan’s Nikkei 225 rose 0.23% to 16,926.84;
CSI 300 lost 0.79% to 3,301.58;
Shanghai’s Composite Index lost 0.72% to 3,063.31;
Shenzhen Composite ended down 0.76% to 2,017.46;
Taiwan’s Taiex lost 0.75% to 9,001.15;
South Korea’s Kospi shed 0.09% to 2,032.72; and
Singapore’s Straits Times Index eased 0.15% to 2,816.47.
Spot gold fell US$2.99 to US$1,305.98.
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At 5pm, the KLCI was down 7.51 points or 0.45% to 1,670.55. Turnover was 1.81 billion shares valued at RM2.03bil. Decliners beat advancers two to one or 564 losers to 279 gainers while 359 counters were unchanged.
The ringgit was weaker against the key currencies, sliding to 4.0790 against the US dollar from 4.0675 the previous day, it was lower against the pound sterling at 5.4077 from 5.3451 and weakened against the Singapore dollar at 2.9916 from 2.9826. It floundered against the Euro to 4.5498 from 4.5306.
Among the banks and finance stocks, Maybank was the the biggest drag on the KLCI when it erased 1.15 points, sliding seven sen to RM7.75.
Maxis fell nine sen to RM6.19 and erased 1.11 points from the KLCI, Axiata ended down seven sen to RM7.81 and wiped out 1.03 points while Digi and Telekom shed one sen each to RM5.01 and RM6.83.
CIMB Equities Research is maintaining its Neutral sector rating and Hold ratings on all three mobile operators – Axiata, Digi and Maxis.
While it sees some stabilisation in price competition recently, the research house expects the market to remain competitive as it is over-crowded with four existing players, and new players Webe and YES (to lesser extent) now joining the fray.
Among the heavyweights, Tenaga lost four sen to RM14.70 while MISC shed one sen to RM7.55, IHH Healthcare added two sen to RM6.56 and Genting Bhd recovered from the previous day's selloff to rebound 10 sen to RM7.90.
Crude palm oil for third-month delivery fell RM6 to RM2,520 per tonne. United Plantations fell 20 sen to RM27.50, Genting Plantations 16 sen to RM10.44, IOI Corp two sen lower at RM4.40, KL Kepong and PPB Group were flat at RM23.58 and RM16.08. FGV lost five sen to RM2.22.
SP Setia fell 18 sen to RM3.31 with 2.93 million shares done.
US light crude oil lost eight cents to US$44.62 and Brent was down 18 cents to US$46.71.
As for oil and gas companies, Petronas Gas fell the most, down 14 sen to RM22.06, Petronas Dagangan four sen lower at RM23.36 and Petronas Chemicals flat at RM6.69 while SK Petro ended four sen lower at RM1.54.
Consumer stocks again found favour with investors, with Dutch Lady up RM1.64 to RM60.84, Nestle gained RM1.16 to RM80, Carlsberg gained 30 sen to RM15, BAT 22 sen higher at RM49.44 and F&N climbed 18 sen to RM24.58.
Hong Kong shares rose on Thursday and the main index finished at the highest level in more than a year, helped by capital inflows from the mainland.
The Hang Seng index rose 0.8% to 23,162.34, the highest since Aug 19, 2015. The China Enterprises Index was up 0.7%, to 9,606.08.
Among the key regional markets,
Japan’s Nikkei 225 rose 0.23% to 16,926.84;
CSI 300 lost 0.79% to 3,301.58;
Shanghai’s Composite Index lost 0.72% to 3,063.31;
Shenzhen Composite ended down 0.76% to 2,017.46;
Taiwan’s Taiex lost 0.75% to 9,001.15;
South Korea’s Kospi shed 0.09% to 2,032.72; and
Singapore’s Straits Times Index eased 0.15% to 2,816.47.
Spot gold fell US$2.99 to US$1,305.98.
Click here for Free Signals OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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