KLCI slips on plantation losses

KUALA LUMPUR: PPB Group and KL Kepong led the FBM KLCI lower in early Monday trade in the absence of fresh catalysts from the plantation sector but key Asian markets crept higher.

At 9.17am, the KLCI was down 1.3 points or 0.08% to 1,608.43. Turnover was 329.86 million shares valued at RM122.29mil. There were 178 gainers, 140 losers and 246 counters unchanged.

Asian shares edged higher after US President Donald Trump said over the weekend that trade talks with China were moving along “very nicely”, though uncertainty remained over whether a deal would be signed this year, Reuters reported.

Japan’s Nikkei was up 0.2% to inch closer to a recent 13-month high. Australian shares rose 0.5% to a two-week high while South Korea’s KOSPI was off 0.2%.

MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.05% at 534.63, testing a recent six-month peak.

At Bursa, PPB Group fell 20 sen to RM18.04 and KLK 12 sen to RM22.40.

Pentamaster lost six sen to RM4.65, Khind five sen to RM1.50, Carimin five sen to RM1.34 while Gmuda lost four sen to RM3.73.

SAPURA ENERGY was the most active, up one sen to 30.5 sen with 75.96 million shares done.

Pharmaniaga was the top gainer, surging 24 sen to RM2.50, JFTech added nine sen to RM1.28, Pintaras and BAT eight sen higher at RM3.29 and RM17.78 while HLBank gained six sen to RM17.12.

Source: TheStar