Published: Thursday April 18, 2013 MYT 5:56:00 PM

Genting, CIMB drag KLCI into the red

By Joseph Chin

KUALA LUMPUR: Malaysia's FBM KLCI fell sharply towards the close of trade on Thursday on late selling of Genting Bhd while CIMB saw some mild selling pressure as regional markets fell on concern weaker global economic growth.

At the close, the FBM KLCI was down 4.71 points or 0.28% to 1,706.26. Turnover was 779.79 million shares valued at RM1.66bil. There were 271 gainers, 413 losers and 309 counters unchanged.

Reuters reported Japan's Nikkei share average dropped 1.2% on Thursday as Apple-linked shares came under pressure on concerns of slowing sales of the iPhone maker's products, while global growth worries dampened the appeal of exporters.

Among the key regional markets,

Japan's Nikkei 225 fell 1.22% to 13,220.07;

Hong Kong's Hang Seng Index fell 0.26% to 21,512.52;

Taiwan's Taiex fell 0.23% to 7,791.35;

South Korea's Kospi fell 1.24% to 1,900.06;

Shanghai's Composite Index rose 0.17% 2,197.60;

Singapore's Straits Times Index rose 0.15% to 3,296.37.

At Bursa Malaysia, Genting Bhd fell 18 sen to RM10.08 and wiped out 1.43 points off the KLCI. Genting Malaysia lost seven sen to RM7.70.

Among the banks, CIMB lost six sen to RM7.70 and erased 1.02 points off the KLCI. HLFG fell eight sen to RM15.04 but Maybank added two sen to RM9.65. MBSM rose 11 sen to RM2.80.

Tenaga, which had a strong run-up recently, fell four sen to RM7.95.

Glove make Top Glove lost 21 sen to RM6.48 while Supermax lost five sen to RM2.08 and Hartalega.

Crude palm oil for third-month futures rose RM32 to RM2,307. TAHPS fell 11 sen to RM5.10 and IOI Corp three sen to RM5.09 and KLK two sen to RM21.66 but PPBGroup added 12 sen to RM12.60.

Among the consumers stocks, Dutch Lady rose 20 sen to RM48.20 and Nestle 16 sen to RM61.70.

The Danainfra Exchange Trade Bonds and Sukuk (ETBS) rose 20 sen to RM101.80.

The ringgit weakened slightly against the US dollar to 3.0340 from 3.0268 the previous day.

US light crude oil rose 79 cents to US$87.47 and Brent US$1.09 higher at US$98.78.

Spot gold rose US$15.84 to US$1,392.09.

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