KLCI, most key Asian markets within the pink

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KUALA LUMPUR: Bursa Malaysia ended the day in pink in step with the weak efficiency of its regional friends and plunging oil costs.

The FBM KLCI closed down 1.34 factors to 1,523.79. The benchmark index moved between 1,525.12 and 1,519.91 all through the session.

Broader market sentiment was weak, with 560 losers outpacing 387 gainers and 407 counters which traded unchanged. Turnover was at 2.8 million shares valued at RM2.11bil.

Sellers famous that the power sector tumbled as oil costs as soon as once more got here beneath heavy strain. The Bursa Malaysia power index fell 8.45 factors, or 1.1% to 761.76 factors.

Oil costs have been beneath strain after Opec and the Worldwide Vitality Company warned of an impending oversupply.

US West Texas Intermediate (WTI) crude oil dropped 58 cents to US$77.78 per barrel whereas worldwide benchmark Brent crude oil futures have been down 29 cents at US$79.99 a barrel.

On Bursa Malaysia, Genetec surged RM2.40 to RM44.40, Sam Engineering rose 68 sen to RM21.36, Kobay superior 36 sen to RM5.96 and PMB Know-how gained 30 sen to RM12.62.

Alternatively, Ayer fell 49 sen to RM5.51, Carlsberg misplaced 30 sen to RM20.60, Heineken Malaysia declined 26 sen to RM22.28 and Hong Leong Monetary group gave up 24 sen to RM17.26.

Among the many heavyweights, Maybank declined three sen to RM8.04, Tenaga fell one sen to RM9.56, Genting misplaced six sen to RM5.08, Petronas Dagangan rose 10 sen to RM19.98 and MISC added seven sen to RM6.96.

Among the many key regional markets:

Japan’s Nikkei 225 fell 0.3% to 29,598.66;

Hong Kong’s Hold Seng Index eased 1.29% to 25,319.72;

Shanghai Composite Index fell 0.47% to three,520.71;

Taiwan’s Taiex gained 0.44% to 17,841.37;

South Korea’s Kospi fell 0.51% to 2,947.38 and;

Singapore’s Straits Occasions Index added 0.05% to three,234.36 factors.



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