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KUALA LUMPUR: Telcos backtracked and weighed on FBM KLCI on Monday, while IHH Healthcare and MAHB were concerned about their operations in Turkey.
Genting also gave up some of the recent earnings, while Dataprep hit the limit on active trading.
At 5 p.m., the KLCI was down 9.46 points or 0.58% to 1,616.73. The turnover was 7,560 million shares valued at almost RM4bil. Those declining beat those advancing nearly two to one or 744 losers to 392 winners, while 422 counters were unchanged.
Reuters reported that global stocks fell and the Turkish lira fell to a record low against the dollar after President Tayyip Erdogan surprised investors by replacing the governor of Turkey’s central bank with a critic of high interest rates.
In Asia, Hong Kong stocks fell as fears of prolonged lockdowns in some European countries dampened hopes for a recovery, while the fall in the Turkish lira also hurt investor sentiment. The Hang Seng Index fell 0.4% to 28,885.34, while the China Business Index gained 0.2% to 11,306.71.
However, China’s shares closed higher on Monday, backed by banking and infrastructure stocks, as the country’s central bank kept its key interest rate for corporate and domestic loans unchanged. The CSI300 Index rose 0.7% to 5,042.82 points at the end of the morning session, while the Shanghai Composite Index rose 0.9% to 3,435.41 points.
In Bursa, IHH Healthcare fell 17 sen to RM5.31, while MAHB lost 10 sen to RM6.54 due to investor concerns about the impact on its operations in Turkey.
Among the plantations, KL Kepong fell 38 sen to RM23.10, Chin Teck Plantations
28 sen to RM6.90, PPB Group six sen down to RM18.54, Sime Plantation unchanged at RM4.85 but IOI Corp was up three sen to RM4.27.
Sime Darby lost 13 sen to RM2.39, giving up last Friday’s late gains, Genting 17 sen lower at RM5.36 and GentingM two sen at RM3.16.
However, Tenaga rose 20 sen to RM10.76 and helped offset some of the losses in KLCI shares.
As for glove manufacturers, Supermax fell six sen to RM4.25, Top Glove one sen to RM5.40 but Hartalega it rose one sen to RM9.70.
Dataprep lowered the limit, dropping 75 sen to RM1.75, the lowest since March 3 despite last week’s reassurance about its new company. Previously, Bursa Securities warned investors about the recent spike in its share price.
In terms of technology and chip makers, Vitrox lost 34 sen to RM14.98, MPI 26 sen to RM37.10, Genetec 17 sen to RM4.64. However, KESM rose 36 sen to RM12.06 and Unisem 17 sen to RM7.86.
G3 extended its decline from last Friday, falling 15.5 sen to 85.5 sen before its bonus shares went on sale on Tuesday.
Among oil and gas stocks, Petronas Gas added 16 sen to RM15.74, Petronas Dagangan lost 20 sen to RM20.10 while Dialog broke the trend of rising two sen to RM10.76.
As for banks, Public Bank lost one sen to RM4.22, Hong Leong Bank two sen to RM19.08, Maybank five sen to RM8.33 and CIMB eight sen to RM4.50.
Among telcos, TM and Maxis lost 12 sen each to RM6.20 and RM4.63, Digi eight sen to RM3.66 and Axiata five sen to RM3.80.
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