Profit taking sends KLCI down 10pts

-A +A

KUALA LUMPUR: Asian stock markets snapped their recent rally, with most of the key indices in the red at the midday break on April 7, and Malaysia was also no exception to the profit taking despite the firmer local factors. At 12.30pm, the KL Composite Index was down 10.32 points or 1.12% to 913.45. Turnover was 349.17 million shares valued at RM492.52 million. There were 95 gainers, 310 losers and 146 counters unchanged. Asian markets which fell were Japan’s Nikkei 225 which lost 0.15% to 8,844.89, Singapore’s Straits Times Index lost the most, down 2.15% to 1,808.33 and the Hong Kong Hang Seng Index shed 1.11% to 14,832.87. Light crude oil was unchanged at US$51.04 while crude palm oil rose RM12 to RM2,111. The ringgit weakened to the US dollar, easing to RM3.5825 from RM3.5591 the previous day. Maybank-OR and Maybank were in focus and the most active counters when the rights to the rights shares were listed. Maybank-OR fell 34 sen to RM1.08 and Maybank 22 sen lower at RM3.94. Other banking stocks which fell were BCHB, down 30 sen to RM7.45 and Public Bank 10 sen to RM7.85. BAT was the top loser, down 50 sen to RM45.50, Tanjong 20 sen to RM13.90. QuillCapita tumbled 17.5 sen to 92.5 sen and UMW 15 sen to RM5.40. Axiata or formerly TM International lost 10 sen to RM2.59 ahead of the listing of the rights on April 8. Nestle was the top gainer, rising 25 sen to RM28.75, Astino 14.5 sen to 54 sen, GoldIS 12 sen higher to RM1.12 while DiGi added 10 sen to RM21.80.