MARKET DEVELOPMENT
Plantations Main Losers at Midday (Update)
Plantations Main Losers at Midday (Update)
16/06/2014 (The Star) - Plantations were among the top losers at the midday break on Monday despite the firmer crude palm oil (CPO) futures as investor sentiment took a hit on rising fears on spreading insurgency in Iraq.
At 12.30pm, the FBM KLCI was down 3.46 points or 0.18% to 1,873.08. Turnover was 697.43 million shares valued at RM534.27mil. There were 291 gainers, 344 losers and 322 counters unchanged.
Reuters reported Asian shares got off on the back foot on Monday, as crude extended gains and tested nine-month highs on fears the insurgency in Iraq could spread and disrupt oil exports.
CPO for third month delivery rose RM5 to RM2,430 per tonne. US light crude oil rose 47 cents to US$107.38 and Brent added 56 cents to US$113.02. Safe haven spot gold jumped US$5.59 to US$1,282.55.
At Bursa Malaysia, plantation heavyweight IOI Corp lost six sen to RM5.15 and erased 0.79 of a point from the KLCI. PPB Group fell 22 sen to RM15.08, TAHPS 13 sen to RM6.75 and Batu Kawan down 10 sen to RM19.80 while Kluang lost eight sen to RM3.67. KL Kepong fell six sen to RM24.52 and FGV three sen to RM4.30.
Genting Bhd fell six sen to RM10.14 and erased 0.47 of a point from the KLCI.
Oil and gas services SapuraKencana Petroleum fell four sen to RM4.24 and Tenaga Nasional, whose earnings are correlated to oil and gas, lost two sen toi RM11.70.
Countryview lost 20 sen to RM2.88, PIE 13 sen to RM6.75 and Lysaght nine sen to RM5.29.
Among the consumer stocks, Nestle fell 10 sen to RM66.80 but BAT gained 68 sen to RM65.68.
Narra Industries jumped 45 sen to RM2.53 and Hong Leong Industries added 15 sen to RM6.85.
Among banks and financial stocks, HLFG gained four sen to RM15.88 while Maybank added three sen to RM9.83.
In-flight food services supplier Brahims' added 13 sen to RM1.98 as it regained favour on hopes of a turnaround for MAS. MAS was unchanged at 20 sen and it was actively traded with 37.73 million shares done.
The ringgit weakened against the US dollar, declining to 3.2238 from the previous close of 3.2185.
Among the key regional markets,
Japan's Nikkei 225 fell 1.04% to 14,940.98;
Hong Kong's Hang Seng Index fell 0.06% 23,304.60;
Shanghai's Composite Index rose 0.18% to 2,074.53;
Taiwan's Taiex rose 0.1% to 9,206.01;
South Korea's Kospi rose 0.04% to 1,991.59 and
Singapore's Straits Times Index shed 0.02% to 3,292.49.
At 12.30pm, the FBM KLCI was down 3.46 points or 0.18% to 1,873.08. Turnover was 697.43 million shares valued at RM534.27mil. There were 291 gainers, 344 losers and 322 counters unchanged.
Reuters reported Asian shares got off on the back foot on Monday, as crude extended gains and tested nine-month highs on fears the insurgency in Iraq could spread and disrupt oil exports.
CPO for third month delivery rose RM5 to RM2,430 per tonne. US light crude oil rose 47 cents to US$107.38 and Brent added 56 cents to US$113.02. Safe haven spot gold jumped US$5.59 to US$1,282.55.
At Bursa Malaysia, plantation heavyweight IOI Corp lost six sen to RM5.15 and erased 0.79 of a point from the KLCI. PPB Group fell 22 sen to RM15.08, TAHPS 13 sen to RM6.75 and Batu Kawan down 10 sen to RM19.80 while Kluang lost eight sen to RM3.67. KL Kepong fell six sen to RM24.52 and FGV three sen to RM4.30.
Genting Bhd fell six sen to RM10.14 and erased 0.47 of a point from the KLCI.
Oil and gas services SapuraKencana Petroleum fell four sen to RM4.24 and Tenaga Nasional, whose earnings are correlated to oil and gas, lost two sen toi RM11.70.
Countryview lost 20 sen to RM2.88, PIE 13 sen to RM6.75 and Lysaght nine sen to RM5.29.
Among the consumer stocks, Nestle fell 10 sen to RM66.80 but BAT gained 68 sen to RM65.68.
Narra Industries jumped 45 sen to RM2.53 and Hong Leong Industries added 15 sen to RM6.85.
Among banks and financial stocks, HLFG gained four sen to RM15.88 while Maybank added three sen to RM9.83.
In-flight food services supplier Brahims' added 13 sen to RM1.98 as it regained favour on hopes of a turnaround for MAS. MAS was unchanged at 20 sen and it was actively traded with 37.73 million shares done.
The ringgit weakened against the US dollar, declining to 3.2238 from the previous close of 3.2185.
Among the key regional markets,
Japan's Nikkei 225 fell 1.04% to 14,940.98;
Hong Kong's Hang Seng Index fell 0.06% 23,304.60;
Shanghai's Composite Index rose 0.18% to 2,074.53;
Taiwan's Taiex rose 0.1% to 9,206.01;
South Korea's Kospi rose 0.04% to 1,991.59 and
Singapore's Straits Times Index shed 0.02% to 3,292.49.