Bursa Malaysia closes in red; YNH plummets 18.18%

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KUALA LUMPUR: Bursa Malaysia closed in the red on Thursday as investors stayed cautious due to a lack of local market-moving catalysts.

The benchmark FBM KLCI fell 6.01 points, or 0.38% to 1,584.94 after moving between its intraday high of 1,592.26 and low of 1,582.31.

The market saw significantly more decliners than gainers, with 804 stocks down and 320 up while 455 traded unchanged. Total volume stood at 4.23 billion units worth RM3.13bil.

Among the decliners, Dutch Lady fell 30 sen to RM35.50, PETRONAS Chemicals lost 19 sen to RM6.33, Heineken fell 18 sen to RM22.20 and Kuala Lumpur Kepong declined 16 sen to RM20.52.

Ge-Shen rose 29 sen to RM3.40, Theta Edge gained 25 sen to RM1.73, PTT Synergy advanced 15 sen to RM2.38 and Pentamaster climbed 15 sen to RM5.08.

Meanwhile, YNH Property tumbled 18.18% or 11 sen to 50 sen, with 94.45 million shares traded, following news that its largest shareholder, Datuk Dr. Yu Kuan Chon, is being sued by the Securities Commission (SC) for market rigging and manipulation breaches involving shares in Shangri-La Hotels (M) Bhd.

US West Texas Intermediate crude rose 39 cents to US$81.29 and Brent gained 42 cents to US$85.67 per barrel.

Elsewhere in the region, Japan’s Nikkei 225 fell 0.82%, Hong Kong’s Hang Seng Index closed down 2.06%, South Korea’s Kospi declined 0.29%, China’s Shanghai Composite Index lost 0.9% and Singapore’s Straits Times Index declined 0.28%.

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