Business

Blue chips flat early Friday, GentM, MAHB up

KUALA LUMPUR: Blue chips were unchanged early Friday despite mild gains by Genting Malaysia and Malaysia Airports while key Asian markets dipped on the latest stunt by North Korea.

At 9.43am, the KLCI was up 0.18 point or 0.01% to 1,781.55. Turnover was 397.72 million shares valued at RM146.88mil. There were 178 gainers, 246 losers and 271 counters unchanged.

US stock futures dipped and the yen rose after North Korea fired another missile over Japan into the Pacific Ocean on Friday, in a sign that Pyongyang remains defiant despite tightening international sanctions, Reuters reported.

US stock futures fell 0.2%. Japan’s Nikkei were almost flat while South Korea’s Kospi and Australia’s main index both dipped 0.3%. MSCI’s Asia-Pacific share index excluding Japan was down 0.1%.

Oil prices were lower on Friday but largely held gains that had prices flirting with multi-month highs, as the cleanup after hurricanes in the United States gathered pace and the outlook for demand took on a firmer tone, according to the wire.

US West Texas Intermediate crude was down 15 cents at US$49.74 a barrel. Brent crude futures were down 20 cents at US$55.27 a barrel. 

Genting Malaysia and MAHB rose six sen each to RM5.74 and RM8.86  while Bursa added 10 sen to RM10.20.

BAT was the top  gainer, up 48 sen to RM44.10. Globetronics staged a mild rebound after two straight days of losses, up RM6.08.

Astro added nine sen to RM2.72 after posting better-than-expected results.

Jewellery maker Poh Kong saw active trade, up 6.5 sen to 72.5 sen.

Disappointing results saw Magni-Tech falling 93 sen to RM6.37. Hong Leong Bank lost 14 sen to RM15.76 in thin trade while Maxis lost six sen to RM5.73. 

Scomi added two sen to 14.5 sen in active trade.