Friday, June 4, 2010

FBM KLCI down in early trade

KUALA LUMPUR: The FBM KLCI extended its losses in early trade on Wednesday, June 2, in line with the decline at regional markets following the weaker overnight close at Wall Street.

US stocks fell on Tuesday as energy shares slid after the latest failed attempt to halt the oil spill in the Gulf of Mexico and the US government announced a criminal probe into the disaster.

Investors punished shares of companies directly involved with the spill and losses accelerated into the close following the news of the investigation.

At 9.05am, the FBM KLCI was down 3.28 points to 1,279.69, dragged by losses at key blue chips amidst cautious trading.

Among the major losers in early trade, Genting and Maybank fell seven sen each to RM6.69 and RM7.31, IOI Corp down six sen to RM4.89, while Public Bank, BAT and Pos Malaysia fell four sen each to RM11.40, RM44.06 and RM2.58, respectively.

Gainers included Mudajaya that added five sen to RM5, KKB Engineering, Top Glove and KLCC Property up four sen each to RM1.54, RM12.20 and RM2.94 while Kossan rose three sen to RM7.23.

Kenmark was the most actively traded counter with 21.26 million shares done. The stock added half a sen to 6.5 sen. Other actives in early trade included Tejari, Talam, KNM, Iris Corp and Ranhill.

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