The Star Online (16/10/2017) - KUALA LUMPUR:  Blue chips closed lower on Monday as investors were unfazed by the recent strong economic data, a rally in crude oil prices and a firmer ringgit.

At 5pm, the KLCI was down 0.95 of a point or 0.05% to 1,754.37. Turnover was 3.16 billion shares valued at RM2.27bil.  There were 372 gainers, 448 losers and 451 counters unchanged.
Stock market data showed foreign funds were net sellers at -RM15.4mil while retail investors joined in the selling but at a lower volume of -RM3mil only. Local institutions were net buyers at RM18.4mil.

Hong Kong stocks rose to near 10-year highs on Monday, joining a rally in Asian markets and boosted by a surprisingly rosy growth forecast for the world’s second-biggest economy, Reuters reported.

World stocks and commodities rose on Monday, boosted by upbeat Chinese data, while US oil futures jumped to a near six-month high as escalating tensions between the Iraqi government and Kurdish forces threatened supply.

The ringgit rose 0.11% against the US dollar to 4.2175 and gained 0.16% versus the pound sterling to 5.6084 while it jumped 0.43% to the euro at 4.9717. However, it slipped 0.04% to the Singapore dollar at 3.1176.

US light crude oil gained 68 cents to US$52.13 and Brent advanced 73 cents to US$57.09. Petronas Dagangan rose the most, up 72 sen to RM25 and pushed the KLCI up 1.21 points, Petronas Gas gained eight sen to RM18.68 while Petronas Chemical added one sen to RM7.35. 

Among the refiners, Petron fell 16 sen to RM11.20 and Hengyuan lost 12 sen to RM8.28.

As for telcos, Axiata fell 11 sen to RM5.16 on profit taking, Digi five sen to RM4.83 and Maxis four sen to RM5.84 but Telekom climbed 10 sen to RM6.30.

Among the heavyweights, Genting Malaysia added 11 sen to RM5.37 and pushed the KLCI up 1.11 points, MISC added 10 sen to RM7.25, Tenaga six sen to RM14.26 while Genting Bhd edged up three sen to RM9.47.

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As for banks, CIMB fell eight sen to RM6.24, Maybank five sen to RM9.46, Public Bank four sen to RM20.46, Hong Leong Bank two sen lower at RM16, RHB Bank was flat at RM5.15 and AmBank gained six sen to RM4.53 while HLFG advanced 16 sen to RM16.96.

Crude palm oil for third month delivery rose RM1 to RM2,758 per tonne.

Sime Darby rose three sen to RM9.08, KL Kepong two sen to RM24.74, IOI Corp was flat at RM4.53 while PPB Group shed four sen to RM16.80. Batu Kawan, a major shareholder in KL Kepong, climbed 26 sen to RM19.92.

Among the tech stocks, KESM fell 20 sen to RM16.60 and Pentamaster 10 sen lower at RM4.85 but Wong Engineering gained 15 sen to RM1.20.  Inari-WA jumped 29 sen to RM2.69.

Top Glove added 38 sen to RM6.39 after its strong fourth quarter results while Hartalega added 22 sen to RM7.70.  StarBiz reported on Monday rubber glove makers are winning back some love from the market, thanks to China.

Spot gold rose 82 cents to US$1,304.64 per troy ounce.