Oil stocks, Tenaga lose as Ringgit weakens

KUALA LUMPUR: Oil stocks and Tenaga are losing due to the weakened Ringgit.

This has pushed FBM KLCI down more than 24 points as the ringgit continued to weaken.

At 12.30pm, the KLCI was down 24.18 points or 1.51% to 1,572.64. Turnover was 1.174 billion shares valued at RM767.48mil. Losers beat gainers 794 to 93 while 189 counters were unchanged.

UOB Kay Hian Malaysia Research believes that while the Malaysian equities market appears to have largely capitulated, it acknowledged that fears of the ringgit depreciating further could lead to modest near-term downside and would cap near-term recovery.

The ringgit was traded at 4.1065 to the US dollar at 12.30pm, off the earlier low of 4.1315.

US light crude oil fell 55 sen to US$41.95 and Brent was down 60 cents to US$48.59.

SapuraKencana Petroleum lost 21 sen to RM1.72 while Bumi Armada lost sevnsen to 88 sen as the stocks reeled under the plunge in crude oil prices, weakening market sentiment and decline in the ringgit.

Petronas Gas lost 16 sen to RM21.06, Petronas Chemicals nine sen to RM6.85 and Petronas Dagangan two sen to RM20.

Among the banks, Public Bank fell 20 sen to RM18, AmBank lost 14 sen to RM4.95, RHB Capital 13 sen to RM6.59, CIMB eight sen to RM4.89 and Maybank seven sen to RM8.22.

Crude palm oil for third-month delivery fell RM20 to US$2,027 per tonne. KL Keponmg was down 24 sen to RM20.38, IOI Corp nine sen to RM3.92 and PPB Group two sen to RM14.72.

UMW 29 sen lower at RM9.01, Genting 25 sen to RM7.25, Tenaga Nasional 22 sen to RM10.36 and Westports 19 sen to RM3.83.

As for telcos, Telekom Malaysia was down 16 sen to RM6.17, Axiata 14 sen to RM5.67, DiGi 13 sen to RM4.92 and Maxis four sen to RM6.36.

Among the key regional markets,

Japan’s Nikkei 225 rose 0.19% to 20,558.18;

Hong Kong’s Hang Seng Index fell 0.99% to 23,754.21;

Shanghai’s Composite Index fell 0.12% to 3,960.61;

Taiwan’s Taiex fell 0.82% to 8,237.27;

South Korea’s Kospi fell 0.38% to 1,975.99 and

Singapore’s Straits Times Index lost 0.72% to 3,091.97.

Spot gold rose US$1.88 to US$1,116.95.

3 Trackbacks & Pingbacks

  1. ประกันรถยนต์ชั้น 1 ที่ไหนดี
  2. get penis bigger
  3. สล็อตออนไลน์ lsm99

Comments are closed.