Thursday 28 Mar 2024
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KUALA LUMPUR: Genting and BAT weighed on blue chips at the midday break on Tuesday, Dec 8, in line with the weaker regional markets, while trading volume remained low as investors stayed on the sidelines awaiting clearer indications about the US economy.

At 12.30pm, the FBM KLCI was down 0.61 of a point to 1,264.75. Turnover was 313.86 million shares done valued at RM315.48 million. There were 200 gainers, 262 losers and 252 counters unchanged.

Japan's Nikkei 225 fell 0.34% to 10,123.53, Hong Kong's Hang Seng Index lost 0.6% to 22,185.85, and  Shanghai's Composite Index slipped 1.32% to 3,287.94. Singapore's Straits Times Index little changed at 2,799.10.

March Crude palm oil futures fell RM15 to RM2,550, while light crude oil added 13 US cents to US$74.06 and US spot gold advanced US$5.10 to US$1,163.20 per troy ounce.

At Bursa Malaysia, BAT fell the most, down 22 sen to RM43.64 with 20,600 shares done on concerns about the impact on the new ruling from the Health Ministry barring the sale of smaller packs of less than 20 cigarettes from June 1 next year. Smaller packs fetch higher margins for BAT.

Genting fell 14 sen to RM7.24, dragging the 30-stock FBM KLCI down by 1.25 points. Pubic Bank lost two sen to RM10.94, IOI Corp one sen to RM5.44 and UMW four sen to RM6.31.

Other decliners were Ajinomoto, down 21 sen to RM3.24, Berjaya Media 18 sen to RM1 and Toyo Ink 10 sen to RM1.50.

However, among banks, CIMB advanced four sen to RM12.86 and AMMB added four sen to RM4.96, adding a combined 0.7 of a point to the index.

Tan Chong rose 10 sen to RM2.56 as CIMB Equities Research maintained its "outperform" call in view of potential re-rating catalysts.  The research house was positive on Tan Chong International Ltd's move to  acquire the production operations and distributorship of Mitsubishi Fuso Truck (Thailand) Co.

MISC-F rose 20 sen to RM8.76 and the shares 15 sen to RM8.90. Tanjong advanced 20 sen to RM16.56 and EON Cap 12 sen to RM6.33.

Melewar-WA was the most active with 15.8 million units done, adding 5.5 sen to 17. 5sen.  Cymao added four sen to 62.5 sen after securing a log-extraction licence in Sabah, while ECM Libra gained 3.5 sen to 66.5 sen on better earnings in its third quarter.

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