Thursday, June 24, 2010

FBM KLCI declines at mid-morning

KUALA LUMPUR: The FBM KLCI declined at mid-morning Thursday, June 24 on the back of the overnight slip at Wall Street, as well as being dragged by losses at blue chips including Petronas Dagangan, DiGi and Tanjong.

US stocks ended lower Wednesday after the US Federal Reserve scaled back its assessment of the pace of recovery and also issued a cautionary note about volatile financial markets in light of Europe's debt woes, according to Reuters.

Data also showed sales of new US homes fell to their lowest level ever in May, it said.

At Bursa Malaysia, the FBM KLCI shed 1.57 points at 10am to 1,328.13. Gainers led losers by 193 to 133, while 170 counters traded unchanged.

Volume was 171.52 million shares valued at RM129.68 million.

Petronas Dagangan was the top loser at mid-morning and fell 40 sen to RM9.38; DiGi lost 30 sen to RM22.90, Tanjong 10 sen to RM18 and Hong Leong Bank fell eight sen to RM8.70.

Other decliners included Parkson, Measat and Guocoland.

Berjaya Land was the top gainer and rose 65 sen to RM4.72; Kawan Food added 27 sen to RM1.56 and Panasonic rose 20 sen to RM17.80. Other gainers included KFCH, SEG International, Sinotop, UMCCA and HELP International.

Kenmark was the most actively traded stock in early trade with 18.77 million shares done. The counter fell three sen to 11.5 sen. Kenmark has'' received a'' letter of demand for RM50.98 million, which is the principal sum and interest accrued for an unsecured term loan of RM50 million.

Kenmark said on Wednesday, June 23 the letter of demand was issued by Messrs Zul Rafique & Partners acting for CapOne Bhd and Malaysian Trustees Bhd.

Other actives included Ramunia, KNM, Kumpulan Europlus and Shin Yang Shipping Corp.

At the regional markets, Japan's Nikkei 225 gained 0.17% to 9,940.37, the South Korean Kospi added 0.24% to 1,729.93, Singapore's Straits Times Index up 0.07% to 2,873.04 while Shanghai's Composite Index declined 0.14% to 2,566.21, Taiwan's TAIEX Index slipped 0.10% to 7,574.81 and Hong Kong's Hang Seng Index fell 0.3% to 20,794.21 at the opening bell on Thursday.

No comments:

Post a Comment