For the month, the FBM KLCI is down 3.18% and year-to-date, it is down 8.02%.
KUALA LUMPUR: Late profit taking of Axiata and Maybank pushed the FBM KLCI into the red when the market closed for the day at midday on Friday but focus was on Sime Darby after its corporate exercise.
At 12.30pm, the KLCI was down 5.86 points to 1,686.36. Turnover was 1.05 billion shares valued at 1.20bil. The broader market was firmer with advancers leading decliners 367 to 244 while 340 counters were unchanged.
The profit taking was expected ahead of the long weekend for the Chinese New Year (CNY) holidays. Trading will resume on Tuesday.
Of the key Asian markets which were open, Japan's Nikkei 225 rose 0.27% to 19,454.94 but Hong Kong's Hang Seng Index fell 0.06% to 23,360.78 and the Hang Seng China Enterprise lost 0.51% to 9,804.05. However, Singapore's Straits Times Index added 0.43% to 3,064.85.
The ringgit rebunded against the key currencies, up 0.02% to 4.4292 against the US dollar from the previous close of 4.4300. It jumped 0.66% against the Singapore dollar to 3.1045 from 3.1252. It advanced against the pound sterling to 5.5658 from 5.6071 and firmed up against the Euro ro 4.7278 from 4.7575.
At Bursa, Axiata fell 15 sen to RM4.84 and erased 2.29 points from the KLCI, snapping its recent rally after it was upgraded by BNP Paribas. Maxis was down six sen to RM5.96, Telekom lost seven sen to RM6.09 but Digi rose two sen to RM4.93.
Maybank fell seven sen to RM8.25 and wiped out 1.21 points from the KLCI. HLFG fell 28 sen to RM14.82, Public Bank six sen to RM20.22, Hong Leong Bank four sen to RM13.22 and CIMB two sen to RM5. However, AmBank was flat at RM4.62 and RHB Bank added two sen to RM5.02.
Insurer Allianz jumped 46 sen to RM10.92 and its loan stocks 60 sen up to RM10.60 in thin trade.
Genting Bhd
fell 13 sen to RM8.40, Genting Malaysia rose one sen to RM5.06 and Tenaga eight sen lower at RM13.60.
Crude palm oil for third month delovery fell RM16 to RM3,071 per tonne. Plantations were the top losers with PPB Group down 34 sen to RM16.06 and KL Kepong lost 30 sen to RM24.04 and United Plantations 16 sen lower at RM26.84 while IOI Corp was unchanged at RM4.50.
FGV rose seven sen to RM1.87 in active trade.
UWM snapped its week-long rally to close down nine sen to RM5.72 after it decided to exit its losing oil and gas business.
However, Sime Darby jumped 41 sen to RM9.23, the biggest gains in recent months, on news about its corporate exercise which prompted research houses to upgrade it. It pushed the KLCI up 4.74 points.
Oil prices were stable on Friday, with rising crude output from the United States offsetting efforts by OPEC and other producers to prop up the market by cutting supplies.
US light crude fell two cents to US$53.76 and Brent was down 11 cents to US$56.13. Petronas Dagangan lost 12 sen to RM23.38, Petronas Gas two sen lower at RM20.92 and Petronas Chemicals shed one sen to RM7.13.
US spot gold fell US$4.27 to US$1,184.23.
Celebrate Merdeka with 50% Off!
T&C applies.
