Bursa claws back some gains, Asian markets in the red – Business News

KUALA LUMPUR: Bursa Malaysia managed to claw back some gains at the midday break on Tuesday, aided by gains in Maybank and IHH Healthcare amid the weaker key Asian markets.

At 12.30pm, the FBM KLCI was up 2.24 points or 0.13% to 1,679.88. Turnover was 1.37 billion shares valued at RM721.76mil. There were 310 gainers, 369 losers and 392 counters unchanged.

The Chinese stock market slid , tracking overnight weakness on Wall Street after strong US jobs data dimmed hopes of a deep rate cut by the Federal Reserve, while tech shares dragged ahead of a slew of new listings on a Nasdaq-style 

board in Shanghai. China’s Shanghai Comospite Index lower by 0.57%

Hong Kong’s Hang Seng Index fell 0.8%, , Taiwan’s Weighted Index 0.6% and South Korea’s Kospi fell 0.14% while Singapore’s STI shed 0.24%.

At Bursa, IHH Healthcare rose six sen to RM5.81 and added 0.82 of a point to KLCI. Tenaga slipped eight sen to RM13.74.

HLFG was the top gainer, up 24 sen to RM18.94, HL Bank gained four sen to RM19, Maybank added three sen to RM8.95, Pubic Bank two sen to RM23, CIMB one sen to RM5.39.

Crude palm oil for third month delivery fell RM3 to RM1,942 per tonne. Despite the fall in CPO prices, some fund buying enabled PPB Grup to climb 12 sen to RM18.70, KL Kepong gained six sen to RM24.62, Sime Darby Plantation two sen higher at RM4.87.

US light crude oil fell 24 cents to US$57.24 and Brent 21 cents lower at US$63.90.

Yinson rose 10 sen to RM6.90, Petronas Gas two sen to RM17.40 while Petronas Chemical was flat at RM8.60.

Pentamaster jumped 16 sen to RM3.33 on improving prospects while Pos Malaysia jumped 14 sen to RM1.89.

London Biscuit tumbled eight sen to 16 sen after it was calssified as a PN17 company.

The ringgit weakened against the US dollar, down 0.1% to 4.1438.

Gamuda fell one sen to RM3.91. 

The Cabinet has yet to make a final decision to acquire Gamuda’s stake in four highway companies,  Tun Dr Mahathir Mohamad said.

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