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Blue chips dip ahead of year end

KUALA LUMPUR: Blue chip slipped slightly in early Monday trade ahead of the year-end holidays in the absence of strong positive catalysts for investors to move into riskier assets.

At 9.10am, the KLCI was down 0.61 point or 0.04% to 1,610. Turnover was 263.17 million shares valued at RM75.35mil. There were 178 gainers, 120 losers and 233 counters unchanged.

In Tokyo, Japan’s Topix slipped on the last trading day of the year as the yen strengthened ahead of a four-day break for year-end holidays, Bloomberg reported.

Almost all 33 industry groups on the benchmark measure fell, with electronics makers contributing most to the market’s early declines.

At Bursa Malaysia last week, foreign funds were net buyers at RM69.9mil while local institutions were net sellers at RM23.3mil and local retail investors were net sellers at twice the amount at RM46.6mil.

PPB Group was the top loser, down 26 sen to RM19.50 and Hap Seng six sen to RM9.93.

Panasonic lost 20 sen to RM36.80, Aeon Credit six sen to RM14.28, MCement and Amverton five sen lower to RM2.87 and RM1.15 while Kim Loong lost four sen to RM1.58.

Dutch Lady rose the most, up 20 sen to RM49.40, BAT 14 sen to RM15.44, MFCB and UWC five sen each to RM5.05 and RM3.28 while Mycron gained 4.5 sen to 36.5 sen.

Source: TheStar