Thai shares, Malaysia lag as weak oil prices hurt

The Financial Daily - - INTERNATIONAL -

KARACHI: Af­ter neg­a­tive open­ing, the mar­ket wit­nessed volatile trad­ing through­out the two ses­sions on ac­count of global crude oil prices at 4 year low. How­ever lower coal prices pro­pel ce­ment stocks in lime­light's as few stocks hits up­per cir­cuit.

The bench­mark KSE-100 in­dex was down by 72.12 point to close at 31,197.98 points. KSE All Share In­dex de­creased by 174.81 to end at 22,706.46, KSE 30-In­dex lower by 114.94 points to con­clude at 20,332.81, whereas KMI 30-In­dex de­cline by 235.67 points to fin­ish the day at 49,786.79 level.

Sa­mar Iqbal, eq­uity dealer at Topline Se­cu­ri­ties said in­dex kept de­clin­ing amid fall­ing oil stocks due to de­clin­ing com- mod­ity prices. In­vestors' in­ter­est in IPPs, Fer­til­izer and ce­ments stocks sup­ported bench­mark in­dex de­cline.

The ad­vance to de­cline ra­tio in the broader mar­ket re­mained in favour of bulls. Out of 377 scrips, 219 scrips ad­vanced, 143 de­clined while the value of 15 scrips re­mained in­tact.

The ready mar­ket vol­ume in­creased by 21.6 per cent to 240.44 mil­lion shares as com­pared to 197.71 mil­lion shares traded on last trad­ing day.

Ja­hangir Sid­dique Com­pany topped the list of ac­tives, lower by 1 at Rs 14.72 on 19.96 mil­lion shares, fol­lowed by Pak Elek­tron in­creased by Rs 1.16 at Rs 30.95 on 13.86 mil­lion shares and Maple Leaf Ce­ment up by Rs 1.74 at Rs 36.65 on 13.54 mil­lion shares. Other ac­tives were K-Elec­tric Limited up by Rs 0.42 at Rs 7.62 on 11.99 mil­lion shares and Pak­istan Telecom­mu­ni­ca­tion Limited up See # 10 Page 7 BANGKOK: The Thai stock in­dex fell on Fri­day as en­ergy shares de­clined af­ter a sharp fall in global crude prices while Malaysian shares ex­tended losses amid a fall in the ring­git and con­cerns over lower oil.

Bangkok's SET in­dex fin­ished down 0.4 per­cent, re­vers­ing from a two-month clos­ing high hit in the pre­vi­ous ses­sion. It posted a mod­est gain of 0.6 per­cent on the month, among the re­gion's un­der­per­form­ers.

Shares of PTT Ex­plo­ration and Pro­duc­tion dropped 5.2 per­cent, their big­gest sin­gle-day loss since Jan­uary, as de­clin­ing oil prices dented its earn­ings out­look.

Kuala Lumpur's com­pos­ite in­dex fell for a sec­ond day, down 0.5 per­cent to its low­est close since Nov. 21, with shares of Te­naga Na­sional, down 0.3 per­cent, among those ac­tively traded. The in­dex slipped 1.9 per­cent on the month.

The ring­git fell to a near five-year low on Fri­day as off­shore funds dumped the cur­rency on fears lower oil prices may hurt Malaysia, a net oil ex­porter and ma­jor palm oil pro­ducer.

Sin­ga­pore out­per­formed the re­gion, with the key Straits Times In­dex up 0.3 per­cent, end­ing the month 2.3 per­cent higher. Shares of Sin­ga­pore Air­lines jumped 2.6 per­cent thanks to ex­pec­ta­tions of a fall in fuel costs. -Agen­cies

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