Published: Monday November 26, 2012 MYT 9:41:00 AM

Malaysia's blue chips slip, KLK, Hong Leong Bank fall

By Joseph Chin

KUALA LUMPUR: Malaysia's blue chips gave up their early gains on Monday and slipped into negative territory, weighed down by mild selling of banks, consumer stocks and DiGi.

At 9.21am, the KLCI was down 3.08 points to 1,611.24. Turnover was 121.16 million shares valued at RM44.52mil. There were 85 gainers, 103 losers and 143 counters unchanged.

Hwang DBS Vickers Research said from a technical perspective, the KLCI may be on its way towards the psychological support mark of 1,600 with a key resistance level currently seen at 1,635.

BAT fell the most, down 74 sen to RM57.22 and Dutch Lady gave up 30 sen to RM45. However, Nestle jumped RM1.78 to RM60.74 with 400 shares done.

Among the banks, Hong Leong Bank dropped 14 sen to RM14.22, Public Bank and its foreign shares six sen lower at RM15.34 and RM15.32.

As for plantations, KL Kepong was down 12 sen to RM20.52 and FGV five sen lower at RM4.60. However, Genting Plantations rose 25 sen to RM8.65 and PPB Group 16 sen higher at RM12.26.

DiGi gave up seven sen to RM4.57 with 371,900 shares done.

Used oil recycler Hiap Huat Holdings rose 11.5 sen to 31.5 sen on its trading debut with 60.76 million shares done.

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