KUALA LUMPUR: Asian markets, which rallied on Monday, June 21 after China had promised to allow the yuan to trade more flexibly, succumbed to mild profit taking early Tuesday.
On Wall Street, US stocks once again succumbed to late-day selling in light trading on Monday, June 21 as hopes China's newfound dedication to yuan flexibility turned to doubts about the speed and magnitude of Beijing's intentions.
The market's overall bearish tone eroded the initial optimism around the benefits of the yuan move. Stocks pulled back as investors questioned the effectiveness of what is expected to be a gradual change, said Reuters.
Among key Asian markets, Japan's Nikkei 225 fell 0.61% to 10,175.31, South Korea's Kospi down 0.51% to 1,730.80, the Shanghai Composite Index shed 0.29% to 2,579.38, Taiwan's TAIEX Index down 0.22% to 7,619.01, Singapore's Straits Times Index fell 0.16% to 2,881.06 while Hong Kong's Hang Seng Index opened 0.1% lower at 20,883.02.
At 10am, the FBM KLCI declined 6.09 points to 1,329.20 dragged by losses including at DiGi, Tenaga and PPB.'' Losers thumped gainers by 258 to 85, while 145 counters traded unchanged. Volume was 134.61 million shares valued at RM146.75 million.
Among the major losers, DiGi fell 18 sen to RM23.26, Tenaga 13 sen to RM8.46, United Malacca and Proton fell 10 sen each to RM8.70 and RM4.60, while F&N and Tan Chong shed eight sen each to RM11.90 and RM4.49. KLK and PPB lost six sen each to RM16.30 and RM16.50.
Nestle was the top gainer and added 50 sen to RM35; Amway up 23 sen to RM7.88, Measat Global 12 sen to RM3.15, while Top Glove, Bintulu Port and KFCH added 10 sen each to RM13.20, RM6.40 and RM8.90, respectively.
Other gainers included Glenealy PLANTATION []s and C.I. Holdings.
The actives this morning included Nam Fatt, Kumpulan Europlus, Talam, Scomi, Transmile and KNM.
On Wall Street, US stocks once again succumbed to late-day selling in light trading on Monday, June 21 as hopes China's newfound dedication to yuan flexibility turned to doubts about the speed and magnitude of Beijing's intentions.
The market's overall bearish tone eroded the initial optimism around the benefits of the yuan move. Stocks pulled back as investors questioned the effectiveness of what is expected to be a gradual change, said Reuters.
Among key Asian markets, Japan's Nikkei 225 fell 0.61% to 10,175.31, South Korea's Kospi down 0.51% to 1,730.80, the Shanghai Composite Index shed 0.29% to 2,579.38, Taiwan's TAIEX Index down 0.22% to 7,619.01, Singapore's Straits Times Index fell 0.16% to 2,881.06 while Hong Kong's Hang Seng Index opened 0.1% lower at 20,883.02.
At 10am, the FBM KLCI declined 6.09 points to 1,329.20 dragged by losses including at DiGi, Tenaga and PPB.'' Losers thumped gainers by 258 to 85, while 145 counters traded unchanged. Volume was 134.61 million shares valued at RM146.75 million.
Among the major losers, DiGi fell 18 sen to RM23.26, Tenaga 13 sen to RM8.46, United Malacca and Proton fell 10 sen each to RM8.70 and RM4.60, while F&N and Tan Chong shed eight sen each to RM11.90 and RM4.49. KLK and PPB lost six sen each to RM16.30 and RM16.50.
Nestle was the top gainer and added 50 sen to RM35; Amway up 23 sen to RM7.88, Measat Global 12 sen to RM3.15, while Top Glove, Bintulu Port and KFCH added 10 sen each to RM13.20, RM6.40 and RM8.90, respectively.
Other gainers included Glenealy PLANTATION []s and C.I. Holdings.
The actives this morning included Nam Fatt, Kumpulan Europlus, Talam, Scomi, Transmile and KNM.
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