Malaysian shares end flat Monday

Malaysian shares end flat Monday

Foreign investors bought stocks worth RM118.8 million last week.

midgf-bursa-malaysia
KUALA LUMPUR: Malaysian shares ended unchanged Monday, similar to lacklustre trade in other regional indexes.

The benchmark FTSE Bursa Malaysia KLCI ended unchanged at 1,665.32 points, after having advanced as much as 0.2 per cent intraday.

The ringgit advanced 0.1 per cent to 4.151 against the dollar Monday, as the greenback weakened against most regional currencies, according to the Nikkei Asian Review (NAR).

On the KLCI, 14 of the 30 constituents ended lower Monday and five closed unchanged, while overall declining issues outnumbered advancing ones 460 to 324.

Foreign investors bought stocks worth RM118.8 million last week, after selling
RM240.8 million the week before, according to MIDF Research.

Total foreign inflows this year now stood at RM2.42 billion, said the NAR report.
Axiata rose 3.1 per cent to RM5.36 and Malayan Banking advanced 0.9 per cent to RM7.70.

However, according to the NAR report, with an over 8 per cent year-to-date loss, the Malayan Banking stock remains one of the worst-performing financial stocks in 2016 on account of tepid loan growth and asset quality concerns.

Petronas Chemicals Group and IOI Corporation rose 1 per cent to RM6.77 and 0.7 per cent to RM4.45 respectively.

Plantations-to-motor-conglomerate Sime Darby fell 1.7 per cent to RM7.77, leading losses on the KLCI.

Oil and gas services major SapuraKencana declined 1.2 per cent to RM1.63. CIMB shares fell 1.3 per cent to RM4.74.

Meanwhile, Genting slipped 0.5 per cent to RM7.98.

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