KLCI halves its losses, ends just above key 1,700 - Business News - News Summed Up

KLCI halves its losses, ends just above key 1,700 - Business News


KUALA LUMPUR: Key Asian markets fell sharply on Thursday, after a tech sell-off battered Wall Street overnight while Bursa Malaysia was also not spared.However, some buying support for selected hammered down stocks saw the FBM KLCI halving its losses for the early part of trade.At 5pm, the KLCI was down 26.69 points or 1.54% to 1,708.49 . Its early low was 1,682.98 as heavy selling hit big cap stocks when markets opened after the overnight rout on Wall Street.Turnover rose to 3.10 billion shares valued at RM3.70bil. CIMB fell 18 sen to RM5.66 and wiped out three points, Hong Leong Bank lost 26 sen to RM20.30,Public Bank 26 sen to RM24.90 and RHB Bank five sen to RM5.26.Power giant Tenaga fell 40 sen to RM14.28 and wiped out 4.08 points, IHH 25 sen to RM5, Genting Malaysia 25 sen to RM4.41, Genting 16 sen to RM7.14 and MAHB 20 sen to RM8.35.As oil and gas stocks, Petronas Chemical was down 14 sen to RM9.22 and Petronas Gas 54 sen to RM17.24 while Petronas Dagangan was 10 sen lower at RM26. StarBiz reported the Cabinet has set up a committee comprising four ministers to revisit the underground contract that was awarded to MMC-Gamuda for the Mass RapidTransit 2 project.Top Glove gained 20 sen to RM10.70 after its net profit rose 7.51% to RM101.59mil in the fourth quarter ended Aug 31. It declared a final dividend of 10 sen per share.


Source: The Star October 11, 2018 09:45 UTC



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