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Bursa starts new week in the red – Business News

KUALA LUMPUR (Reuters) – Blue chips tumbled early on Monday, hurt by losses from Public Bank, Maxis and Petronas Chemical, in the absence of strong hiring of institutional players.

Seacera fell into active trade after it was rated as a 17 note practice company.

At 9:26 am, the FBM's KLCI fell 4.34 points or 0.26% to 1,634.04. The turnover was of 409.10 million shares evaluated in RM181.23 thousand, reflecting the purchase of lower quality. There were 160 winners, 244 losers and 268 counters unchanged.

Asian stock markets rose after surprising US first-quarter economic growth pushed the S & P 500 to a record high, but gains were limited by caution over the less optimistic aspects of the GDP report, which pointed to a weakening ahead, according to Reuters.

MSCI's broader index for Asia Pacific stocks outside Japan rose less than 0.1 percent, rising more after posting its biggest weekly drop in more than a month last week.
Australian shares fell 0.26%, while Seoul's KOSPI rose 0.4%.

In Bursa, Public Bank was the main loser, down 18 cents to RM22.46, while Maxis and Petronasw Chemical lost seven cents each to RM5.37 and RM9.03 and Axiata gave six cents to RM3.49.

The DWL-PA fell 11 sen to 59 sen, Gamuda six sen to RM3.49.

Seacera skidded 5.5 sen to 26 sen with 25.55 million shares.

Heinken rose 42 to RM24.50 and BAT 18 to RM35.76 and Ajinomoto 12 to RM17.46.

Yee Lee jumped 39 sen to RM2.33 after its major shareholders decided to make it private at RM2.39 per share.

Canon , Tong Herr, KPS and G3 were also among the first winners.

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