Bursa falls for fourth straight day on PChem, Tenaga losses - Business News

KUALA LUMPUR: Blue chips closed in the red for the fourth straight day on Friday as investor sentiment was impacted by uncertainties about the US-China trade tension truce and ahead of the massive rallies over the weekend.At 5pm, the KLCI was down 2.8 points or 0.17% to 1,680.54. Turnover was 1.91 billion shares valued at RM1.51bil. There were 292 gainers, 427 losers and 402 counters unchanged.After market close, Moody's Investors Service affirmed the government of Malaysia's local and foreign currency issuer and senior unsecured debt ratings at A3. The outlook remains stable.“Government debt will stay high for longer and the government's fiscal policy choices will narrow the revenue base and reduce fiscal flexibility further,” it said in a statement.On the external front, Hong Kong stocks closed lower as the arrest of a senior Huawei executive dampened hopes of a lasting resolution to the US-China trade conflict.The Hang Seng index fell 0.4%, the China Enterprises Index lost 1.1%, Japan's Nikkei 225 tose 0.82%, China's Shanghai Compositie eked out a 0.03% gain while Singapore's STI added 0.08%.At Bursa, Petronas Chemical fell seven sen to RM9.20 and wiped out one point from the KLCI, Dialog lost five sen to RM3.18, Petronas Gas and Petronas Dagangan were flat at RM19.10 and RM25.30.Tenaga continued to lose ground, down six sen to RM13.70 and erased 0.6 of a point, Genting Malaysia and Genting Bhd shed two sen each to RM2.87 and RM6.26.IHH was flat at RM5.36, Sime Darby gained one sen to RM2.34 while MISC added four sen to RM6.10.Among the banks, Public Bank fell eight sen to RM24.80 and erased 0.55 of a point, Maybank and CIMB shed two sen each to RM9.42 and RM5.78, HLFG dour sen to RM19.36, Hong Leong Bank two sen to RM20.60 while RHB Bank was unchanged at RM5.34.AmBank rose 10 sen to RM4.40 ahead of its inclusion into the KLCI on Dec 24.Telekom and KLCC, which will be removed from the KLCI, rose two sen each to RM2.61 and RM7.83.Digi gained four sen to RM4.49, Axiata one sen to RM3.88 and Maxis shed three sen to RM5.40.As for plantations, KL Kepong fell 24 sen to RM24.14, PPB Group was flat at RM17, IOI Corp rose one sen to RM4.35 and Sime Plantation tywo sen to RM4.69.MAHB was the top gainer among the KLCI stocks, up 21 sen to RM7.81 and added 0.62 of a point to the index.

Source:The Star

December 07, 2018 10:07 UTC


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