Blue chips eked out small gains at midday on Wednesday, pushing the FBM KLCI slightly into the positive territory but the broader market was weaker and the ringgit continued to decline against the major currencies.
At 12.30pm, the KLCI was up 0.64 points or 0.04% to 1,683.71. Turnover was 1.03 billion shares valued at RM722.66mil. Decliners led advancers 433 to 238 while 342 counters were unchanged.
Key Asian markets were mostly higher except for China as the blue-chip CSI 300 index edged down marginally, dragged by financial shares amid receding expectations of further aggressive monetary easings, Reuters reported..
The ringgit weakened against the US dollar to 4.0367 from 4.0325 and it was at 5.3185 to the pound sterling from 5.3106 and slipped against the Singapore dollar to 2.9856 from 2.9838.
At Bursa Malaysia, AirAsia fell 23 sen to RM2.99 in active trade on profit taking.
Its affiliate, AAX lost 4.5 sen to 41.5 sen with 125 million shares done. AAX-CU fell 3.5 sen to 8.5 sen and AAX-CW was down four sen to 9.5 sen, AAX-CV was down four sen to 10.5 sen. AAX-WA fell 3.5 sen to 25 sen.
Among the consumer stocks, Dutch Lady fell RM1.92 to RM57.60 and Carlsberg lost 24 sen to RM14.74 while Heineken was down 16 sen to RM18.46. However, BAT added 42 sen to RM50.62 and Ajinomoto rose eight sen to RM14.12..
However, underpinning the KLCI's gains were Genting and Sime Darby. Genting Bhd added 10 sen to RM8.16, Genting Malaysia two sen to RM4.30 while Sime rose seven sen to RM7.87 after the battering on Tuesday after it announced its new share placement plan.
Crude palm oil for third month delivery rose RM2 to RM2,602. KL Kepong rose the most among the plantations, up eight sen to RM23.58, PPB Group added six sen to RM16.12 while IOI Corp lost three sen to RM4.40.
US light crude oil fell 71 cents to US$47.39 and Brent was down 61 cents to US$49.35. Petronas Gas added eight sen to RM22.14 and Petronas Chemicals gained three sen to RM6.69 while Petronas Gas fell six sen to RM22.14. SK Petro edged up one sen toRM1.59.
Among the banks, CIMB and Maybank lost one sen each to RM7.99 and RM4.68, Hong Leong Bank was flat at RM13.16 while AmBank rose one sen to RM4.36.
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