KUALA LUMPUR: The FBM KLCI gave up all its hard-earned gains to close in the red on Monday, weighed down by losses in Petronas-linked stocks and telcos despite a stronger broader market.At the close, the KLCI was down 0.01 point to 1,622.06. Turnover rose to 4.77 billion shares valued at RM3.18bil. Advancers beat decliners two to one or 621 gainers to 323 losers and 360 counters were unchanged.Sentiment was impacted by the fall in Chinese stocks. Diloh eked out a one sen gain to RM3.18.IHH lost four sen to RM5.52, GentingM three sen lower at RM3.21 but Genting rose one sen to RM6.79 while Sime Darby rallied 12 sen to RM2.35.CIMB was the top performer among the banks, climbing 10 sen to RM5.17 and adding 1.65 points to the KLCI, Maybank ended six sen higher at US$9.15, Public Bank two sen to RM22.54, AmBank fell two sen to RM4.45 while Hong Leong Bank and RHB Bank gave up four sen each to RM20.04 and RM5.76.Crude palm oil for third month delivery fell RM13 to RM2,177 per tonne.As for plantations, KL Kepong fell 12 sen to RM24.68, PPB Group eight sen to RM18.70 ,Sime Plantation four sen to RM5.06 and IOI Corp two sen to RM4.45.Cement players Tasek and Lafarge rose on news about the revival of Bandar Malaysia. Tasek was the top gainer, up 66 sen to RM5.81 and Lafarge 31 sen to RM2.64.IWCity rallied 30sen to RM1.32, Ekovest and Ekovest-WB 30 sen each to 97 sen and 48 sen in active trade.DWL put on a stron performance, up 37 sen to RM1.68.Last Friday, DWL appointed former CEO of Mass Rapid Transit Corporation Sdn Bhd Datuk Seri Shahril Mokhtar as its managing director.It had earlier announced it was teaming up with Gadang Holdings to jointly bid for infrastructure projects.The ringgit weakened 0.02% against the US dollar to 4.1340 and was unchanged versus the pound stering to 5.3722 and shed 0.08% to the euro ar 4.6508 but eked out a gain 0f 0.04% to the Singapore unit at 3.0481.

Source: The Star April 22, 2019 09:56 UTC