Markets falls again, KLCI down 14 pts

KUALA LUMPUR: Blue chips fell again in early trade Monday, dragged down by losses in KL Kepong, BCHB and Sime, mirroring the losses in major Asian markets after the weak close on Wall Street last Friday.
However, the political concerns in the country also affected sentiment. At 9.30am, the KLCI was down 14.29 points or 1.18% to 1,192.38. Turnover was 31.20 million shares valued at RM65.5mil. There were 46 gainers, 185 losers and 69 counters unchanged.
Asian markets also fell with Shanghai’s Composite Index opening 2.26% or 63.95 points lower at 2,767.78 while Japan’s Nikkei 225 lost 226 points or 1.63% to 13,715.26, while Singapore’s Straits Times Index lost 1.43% to 2,958.78.
Light crude oil was trading at US$135.51 (RM441.62) per barrel.
At Bursa Malaysia, KL Kepong fell 30 sen to RM17.50, DiGi and PPB 20 sen each to RM24 and RM10.90 while TM International and Sime Darby lost 15 sen each to RM6.85 and RM9.20 respectively. RHB Cap and KNM gave up 10 sen each to RM4.36 and RM5.85.
BCHB, which won the bid to buy Financial Institutions Development Fund's 42.1% stake in BankThai Pcl for RM577.4mil, saw its share price falling 25 sen to RM8.
MBSB rose five sen to RM1.64 in active trade on a report that it is expected to be taken private next month for shareholders to transform the company into a niche player in the financial market.
Other gainers were YTL Cement, adding 14 sen to RM4.24 while Tanjong rose 10 sen to RM14.30 and KFCH and Kulim five sen higher to RM6.30 and RM10.