KLCI slips as selling on Public Bank, Tenaga picks up
Wednesday, August 21, 2019       08:49 WIB

KUALA LUMPUR: Blue chips retreated early Wednesday as selling on Public Bank and Tenaga Nasional picked up pace sending the FBM KLCI deeper into the red, tracking the decline in key Asian markets.
At9.30am, the KLCI was down 4.69 points or 0.29% to 1,598.06. Turnover was 241.93 million shares valued at RM106.43mil. There were 128 gainers, 182 losers and 218 counters unchanged.
Stocks in Asia declined after a weak US session and a further move lower in Treasury yields overnight as investors assessed the latest news on trade talks and awaited more clues on monetary policy, Bloomberg reported.
Japanese equities bore the brunt of losses, with stocks also lower in Australia and South Korea.
Japan's Topix index declined 1%, South Korea's Kospi index fell 0.2% and Australia's S&P/ASX 200 Index lost 0.4%.
Public Bank and Tenaga lost eight sen each to RM20.72 and RM13.62 while KL Kepong and MAHB lost six sen each to RM23.76 and RM8.54.
Hengyuan was the top loser, down 14 sen to RM5.02, FL Bhd 11 sen to RM1.08 and Edgenta eight sen to RM3.
Heineken was the top gainer, up 56 sen to RM23.28 after posting stronger earnings.
MBM Resources added 34 sen to RM4.01 and the call warrants MBMR -CI added 12.5 sen to 37 sen in active trade.
AmInvestment Research is maintaining its Buy call on MBM Resources with an unchanged fair value of RM4.05 based on a FY20F PE of nine times.
DRB-HICOM added six sen to RM2.96 while Unisem was higher by nine sen to RM2.15.
Guan Chong extended its gains, up eight sen to RM3.99, riding on its strong earnings and its proposed corporate exercise involving a one-for-one bonus issue and one warrant for five shares.

Sumber : thestar.com.my

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