MALAYSIA'S FTSE Bursa Malaysia KLCI Index fell 2.99, or 0.3 per cent, to close at 1,171.28, the lowest level since August 25.
Twenty-one stocks slid and six rose on the 30-member measure.
The market was closed on August 31 for a public holiday.
In the market, 499 million shares changed hands, lower than the three-month daily average of 1.1 billion shares.
Bumiputra-Commerce Holdings Bhd, Malaysia’s second-biggest bank, climbed 2.7 per cent to RM10.22, the most since July 31.
Tanjong Plc, a betting and power group, added 0.8 per cent to RM15.44, the second-best performer on the key stock index today.
RHB Research Institute said in a report today the two stocks are among its top picks investors should buy for the “long term” because they’re “undervalued.”
Malaysian Airline System Bhd dropped 2.5 per cent to RM3.07 ringgit, snapping a three-day, 7.5 per cent gain.
The stock is among a list of “overvalued” stocks that RHB said investors should sell.
DRB-Hicom Bhd, a vehicle assembler and construction group, fell 1.8 per cent to RM1.12, the most since August 21.
The company said first-quarter net income fell 92 per cent to RM47.7 million because a one-time gain of RM567.6 million
from the sale of an affiliate a year earlier wasn’t repeated.
Sales increased to RM1.6 billion from RM1.5 billion, the company said in a statement.
Lion Industries Corp, a steelmaker, slid 4.5 per cent to RM1.49 , the lowest close since July 23.
The company said it had a loss of RM79 million in the fiscal fourth quarter compared with a profit of RM454.2 million a year earlier. Sales slid to RM988.1 million from RM2.18 billion ringgit, the company said in a statement.
Media Prima Bhd, a television broadcaster, declined 1.4 per cent to RM1.46, the biggest drop since August 27.
The company said second-quarter net income fell 72 per cent to RM8.5 million from a year earlier. Sales dropped to RM178 million from RM198.5 million, the company said in a statement. - Bloomberg
Twenty-one stocks slid and six rose on the 30-member measure.
The market was closed on August 31 for a public holiday.
In the market, 499 million shares changed hands, lower than the three-month daily average of 1.1 billion shares.
Bumiputra-Commerce Holdings Bhd, Malaysia’s second-biggest bank, climbed 2.7 per cent to RM10.22, the most since July 31.
Tanjong Plc, a betting and power group, added 0.8 per cent to RM15.44, the second-best performer on the key stock index today.
RHB Research Institute said in a report today the two stocks are among its top picks investors should buy for the “long term” because they’re “undervalued.”
Malaysian Airline System Bhd dropped 2.5 per cent to RM3.07 ringgit, snapping a three-day, 7.5 per cent gain.
The stock is among a list of “overvalued” stocks that RHB said investors should sell.
DRB-Hicom Bhd, a vehicle assembler and construction group, fell 1.8 per cent to RM1.12, the most since August 21.
The company said first-quarter net income fell 92 per cent to RM47.7 million because a one-time gain of RM567.6 million
from the sale of an affiliate a year earlier wasn’t repeated.
Sales increased to RM1.6 billion from RM1.5 billion, the company said in a statement.
Lion Industries Corp, a steelmaker, slid 4.5 per cent to RM1.49 , the lowest close since July 23.
The company said it had a loss of RM79 million in the fiscal fourth quarter compared with a profit of RM454.2 million a year earlier. Sales slid to RM988.1 million from RM2.18 billion ringgit, the company said in a statement.
Media Prima Bhd, a television broadcaster, declined 1.4 per cent to RM1.46, the biggest drop since August 27.
The company said second-quarter net income fell 72 per cent to RM8.5 million from a year earlier. Sales dropped to RM178 million from RM198.5 million, the company said in a statement. - Bloomberg
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