Tenaga, Petronas stocks weigh, glove makers up

KUALA LUMPUR: Blue chips slipped early Wednesday, dragged down by losses in Tenaga Nasional and Petronas-linked stocks but glove makers were among the gainers after top Glove’s strong results.

At 9.09am, the FBM KLCI was down 4.66 points or 0.3% to 1,572.29. Turnover was 144.26 million shares valued at RM84.30mil. There 166 gainers, 118 losers and 202 counters unchanged.

Asian stocks were mixed as investors take a breather after the partial US-China trade deal that sent global equities close to record highs. Treasuries were steady, Bloomberg reported.

Shares dipped in Tokyo and were little changed in Sydney and Seoul. US futures were flat after the S&P 500 Index closed just one index point higher at a new record amid positive factory and construction data. The pound extended losses after dropping the most in a month as concerns about a no-deal Brexit resurfaced.

At Bursa, Petronas Gas fell 40 sen to RM16.60 and Petronas Dagangan 20 sen to RM22.80. Tenaga lost eight sen to RM13.14.

Dutch Lady fell the most, down 60 sen to RM47.10 and Nestle 40 sen to RM143.60 but F&N added 66 sen to RM34 with 100 shares done and Carlsberg edged up six sen to RM27.76.

HL Bank fell 28 sen to RM16.82 and HLFG 22 sen to RM16.34 while Press Metal lost nine sen to RM4.60, IJM and Hap Seng six sen lower at RM2.16 and RM9.82.

Among the plantations, PPB Group rose 32 sen to RM18.66 and Genting Plantations 20 sen to RM10.9 while KL Kepong added 14 sen to RM24.74.

Top Glove rose 16 sen to RM4.82 and Hartalega nine sen higher at RM5.31.

Source: TheStar