KUALA LUMPUR (Jan 9): Petronas Chemicals Group Bhd. shares fell as much as 5.45 percent, while Malaysia's benchmark index advanced. Petronas Chemicals cut to underweight at JPMorgan price target RM7.50.
* Shares declined to RM8.50 from RM8.99 in the previous session.
* Trading volume was almost 30 times the 20-day average.
* The FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index gained 0.3 percent, and the MSCI AC Asia Pacific Index rose 0.6 percent.
* In the past year, the stock had a similar or greater loss three times at the close; it advanced in the next trading session twice (0.7 percent, on average) and declined once (1.1 percent).
* Shares are at a 8.7 percent discount to the analysts' consensus target price. The stock traded at an average 3 percent discount over the past year.
* J.P. Morgan analyst Ajay Mirchandani downgraded the recommendation on Petronas Chemicals to underweight and assigned a target price of RM7.50 yesterday.
* Stock advanced 10 percent in the past 52 weeks as the FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index lost 8.7 percent.