18/12/2012 (The Star) - Malaysia's blue chips closed lower on Monday, with Genting Bhd, UMW and BAT among the biggest losers among the FBM KLCI stocks, while as volume thinned ahead of the year-end holidays.

Investors were quick to take profit after last week's rally, where foreign investors turned net buyers of Malaysia equities, accumulating RM678.7mil of equities, after three consecutive weeks of selling, according to MIDF Equities Research.

At the close, the FBM KLCI was down 3.4 points or 0.21% to 1,648.58 where Genting Bhd, UMW and BAT erased 2.26 points. Overall trading volume was thin with 726.75 million shares done valued at RM1.12bil. There were 259 gainers, 399 losers and 291 counters unchanged.

Among the key regional markets, Japan's Nikkei 225 climbed 0.94% to 9,828.88 after the Liberal Democratic Party reclaimed power in a landslide victory. Investors expected the new government would take measures to expand monetary and fiscal stimulus.

Also higher was Shanghai's Composite Index, which added 0.45% to 2,160.34.

However, Hong Kong's Hang Seng Index fell 0.41% to 22,513.61; Taiwan's Taiex fell 0.88% to 7,631.28 and South Korea's Kospi shed 0.6% to 1,983.07 and Singapore's Straits Times Index dropped 0.31% to 3,158.70.

At Bursa Malaysia, consumer stocks were among the major losers, with BAT falling the most, down RM1.58 to RM59.42 while Nestle fell 48 sen to RM63.50 and F&N 34 sen to RM18.32. BAT's decline erased 0.7 of a point of the KLCI.

UMW fell 26 sen to RM11.78 and wiping out 0.7 of a point while Genting Bhd's decline of 10 sen to RM9.19, shaved 0.86 of a point.

Crude palm oil for third-month futures added RM4 to RM2,350.

Plantations were among the major gainers, with Genting Plantations rising 30 sen to RM8.85 and KL Kepong 14 sen to RM21.46 but PPB Group fell 10 sen to RM11.60.

Banks held steady, eking out small gains. Publuic Bank rose four sen to RM15.98 while Maybank, CIMB, AMMB and HL Bank gained two sen each to RM9.04, RM7.60, RM6.50 and RM14.78.

US light crude oil edged up one cent to US$86.74 while Brent fell 22 cents to US$107.96. Spot gold dropped US$5.50 to US$1,690.65.

The ringgit was weaker against the US dollar at 3.0574 versus the previous close of 3.0565.