KUALA LUMPUR: The FBM KLCI was the worst performer among key Asian idexes on Wednesday morning amid continued foreign selling of local equity.
By midday, the local index looked set against the flow of Asian markets that rose on strong US data. Japan's Nikkei headed for a record 17-day winning streak as it moved a tenth of a percent higher after a slow start.
The FBM KLCI ended morning trade 0.86 points lower at 1,735.28 points. Turnover was 1.35 billion shares with a value of RM769.47mil. There were 345 decliners versus 229 advancers and 480 counters unchanged.
Maybank led the list of heavyweights that weighed, falling seven sen to RM9.18 and shaving 1.2188 points off the KLCI.
Axiata declined four sen to RM5.19 while IOI dipped five sen to RM4.45.
British American Tobacco
continued its descent following Monday's weak earnings result and a cloudy outlook. It dropped 54 sen to RM41.46.
Among heavyweights that lifted, IHH Healthcare gained five sen to RM5.80 while Digi put on five sen to RM4.87.
In plantations stocks, KL Kepong rose 18 sen to RM24.28, while Sime Darby dropped two sen to RM9.09.
Banking counter CIMB dipped two sen to RM6.09 and Ambank fell four sen to RM4.36. RHB rose one sen to RM4.96 while Hong Leong Bank was unchanged at RM16.08.
Oil merchant Petronas Dagangan slipped 10 sen to RM24.10 while Petronas chemicals fell two sen to RM7.46 and Petronas Gas was untraded.
On the wider market, Edaran gained 30 sen to 52.5 sen while Perstima moved 22 sen higher to RM5.75. Gamuda was also a leading gainer on Bursa, rising 14 sen to RM5.15.
Consumer products counters were among the worst performing on Bursa. F&N dropped 54 sen to RM24.50, Kawan Food dropped nine sen to RM3.01 and Apollo Food fell eight sen to RM4.97.
On the petroleum market, prices remained firm as leading exporter Saudi Arabia said it was determined to end a supply glut. Us light crude fell four cents to US$52.43 while Brent Crude rose seven cents to US$58.40.
In forex, the ringgit traded 0.04% weaker against the US dollar as the greenback lifted on reports that John Taylor may be next in line as the next Federal Reserve chief.
The ringgit strengthened 0.51% against the pound sterling at 5.5595 and gained 0.06% agianst the Singapore dollar ar 3.1075.
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