Lower in cautious trade
WEAK sentiment, brought on by the lack of direction in oil prices and talk that US interest rates will increase before year-end, pushed share prices to close lower on Bursa Malaysia yesterday. The FBM KLCI slipped 1.69 points to 1,667.03. On the Bursa scoreboard, there were 398 losers and 355 gainers while 416 counters were unchanged, 488 untraded and 17 suspended.
Investors turned cautious and this was reflected by selling pressure in index-linked and blue chips. A dealer said crude oil prices, which returned to the positive zone hours before trading closed, and the better-than-expected August Industrial Production Index, which grew 4.9%, helped cushion the fall.
Among the oil and gas stocks, Petronas Gas rose 18 sen to RM21.96, Petronas Chemicals gained 3 sen to RM6.81 and Petronas Dagangan perked 10 sen to RM23.46.
Of the heavyweights, Maybank fell 4 sen to RM7.66, Public Bank eased 2 sen to RM19.76, IHH Healthcare lost 7 sen to RM6.48 but Tenaga Nasional was flat at RM14.38. – Bernama