Mild profit taking on Tanjong, Genting, CIMB

KUALA LUMPUR: Blue chips were slightly lower at midday on Wednesday, April 7 on mild profit taking of Tanjong, GENTING BHD [] and CIMB but the overall market sentiment was still firm with some buying interest in chip-related stocks.

At midday, the FBM KLCI was down 1.02 points or 0.08% to 1,343.35. Turnover was 556.52 million shares done valued at RM667.19 million. There were 291 gainers, 342 losers and 290 stocks unchanged.

However, key regional markets outperformed Bursa Malaysia, with Japan's Nikkei 225 uip 0.43% to 11,331.12, Hong Kong's Hang Seng Index added 1.46% to 21,851.06 and Singapore's Straits Times Index advanced 0.49% to 2,990.21 but Shanghai's Composite Index slipped 0.37% to 3,147.10.

Light crude oil rose nine sen to US$86.93, crude palm oil futures added RM15 to RM2.527 and US spot gold up US$3.90 to US$1,138.20.

Among the index linked stocks, Tanjong fell 16 sen to RM18.80, Genting Malaysuia six sen to RM6.44 and CIMB four sen to RM14.66. Axiata lost one sen to RM3.85 and Telekom two sen to RM3.48.

PLANTATION []s were mixed, with Batu Kawan down 12 sen to RM10.78, United Plantations eight sen to RM14 and KL Kepong six sen to RM16.92 but Sime Darby inched up two sen to RM8.78 and IOI one sen to RM5.48.

MTD ACPI fell the most, down 18.5 sen to 50.5 sen and SPK 10 sen to 40 while BHIC shed nine sen to RM4.30.

However, chip-related stocks rose after the Semiconductor Industry Association reported strong sales in February on-year. Unisem added 15 sen to RM2.91, MPI 12 sen to RM6.72, Eng Tek 11 sen to RM2.75 and KESM three sen to RM2.37.

Nestle was the top gainer, adding 46 sen to RM35.46 while Pos Malaysia advanced 32 sen to RM3.18 while Latexx added 13 sen to RM4.12 and the warrants 14 sen higher at RM3.62.