Friday, June 25, 2010

Broader market weakens

KUALA LUMPUR: Selling pressure on regional markets on concerns about weakening US consumer spending and the impact on corporate earnings weighed on sentiment at the midday break on Friday, June 25 while at Bursa, the broader market showed signs of weakening.

At 12.30pm, the FBM KLCI fell 2.51 points to 1,323.36. Turnover was 283.37 million shares valued at RM360 million. Declining stocks beat advancers two to one, with 325 losers and 172 gainers.

Light crude oil fell 29 cents to US$76.22 while crude palm oil futures fell RM8 to RM2,382.

Nikkei 225 -2.21% 9,708.43 Hang Seng Index -0.6% 20,609.82 Shanghai Composite Index -0.73% 2,548.10 Singapore Straits Times Index -0.12% 2,844.20
Berjaya Sports Toto fell the most among the 30-stocks index, down 13 sen to RM4.35. Its unit Sports Toto Malaysia Sdn Bhd would undertake a medium term notes (MTNs) programme of up to RM800 million and the proposal had received the Securities Commission's nod.

MISC four sen to RM8.65, Tenaga and GENTING BHD [] three sen each to RM8.42 and RM7.42, Maybank and Sime two sen each to RM7.56 and RM8.11. MAS shed six sen to RM2.10.

Cepco fell the most, down 65 sen to RM1.54 but with 100 shares done.'' MPI lost 23 sen to RM6.20.

PPB, which derives most of its earnings from Wilmar, fell 12 sen to RM16.34. Genting PLANTATION []s lost 12 sen to RM6.83 and IJM Plantations 10 sen to RM2.42.

But Batu Kawan rose 14 sen to RM11, UMCCA 10 sen to RM9.45 and Glenealy nine sen to RM4.44.
Gamuda-WD rose five sen to RM1.15 and it was the second most active with 14 million units done while Gamuda three sen higher to RM3.24 after an earnings upgrade.

Sinotop advanced nine sen to 58.5 sen after China-based Be Top gave a RM59 million guarantee in Sintop reverse takeover.

Top Glove rose 20 sen to RM13.20 on higher earnings projection.

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