KUALA LUMPUR: Key Asian markets fell at the midday session on Monday, June 7, pushing all the key indices into the red year-to-date while commodities fell following the accumulation of bad news and weaker euro.
Reports said disappointing U.S. jobs data and warnings about Hungary's economy re-ignited concern about energy demand growth and Europe's debt crisis.
At 12.30pm, the FBM KLCI fell 9.46 points or 0.73% to 1,284.93. Trading volume shrank to 258.25 million valued at RM386.72 million. There were 78 gainers, 439 losers while 154 stocks unchanged.
In Japan, the Nikkei 225 skidded 3.55% to 9,549.27; Hobng Kong's Hang seng Index fell 2.36% to 19,313.05 and Shanghai's Composite Index 2.09% lower at 2,500.31 while Singapore's Straits Times Index fell 1.99% to 2,750.64.
Light crude oil fell US$1.24 to US$70.27 while crude palm oil futures lost RM25 to RM2,423.
Meanwhile, Standard & Poor's Equity Research said buying opportunities exist in Asia, especially for better-managed blue chips, but cautioned that risks associated with Eurozone debt and slowing demand may dampen earnings outlook.
As for Malaysia, in terms of sectors, the report singled out Malaysian banks and healthcare.
"In the near term, we prefer to take a defensive stance although we advocate collection of some beaten down cyclical issues," said S&P Equity Research vice president Lorraine Tan.
S&P Equity Research believed the flow of projects in Malaysia should continue to support local building materials and CONSTRUCTION [] firms.
At Bursa Malaysia, among the 30-stock FBM KLCI, Maybank fell nine sen to RM7.29, GENTING BHD [] 15 sen to RM6.81, MISC 19 sen to RM8.35, dragging the index down a combined four points.
YTL lost 15 sen to RM7.30, CIMB fell four sen to RM6.88, Sime five sen to RM7.78, Pubpic Bank six sen to RM11.52, IOI four sen to RM4.93.
HL Industries was the top loser, down 67 sen to RM3.83, BAT 36 sen to RM43.90, Proton 25 sen to RM4.48 while SunCity lost 22 sen to RM3.60.
Kenmark bucked the trend, rising 1.5 sen to 27.5 sen with 41.79 million shares done.
Warisan rose 13 sen to RM2.45, Super 13 sen also to 73 sen while EON Cap added 10 sen to RM7.20 and KStar eight sen to RM2.31.
Reports said disappointing U.S. jobs data and warnings about Hungary's economy re-ignited concern about energy demand growth and Europe's debt crisis.
At 12.30pm, the FBM KLCI fell 9.46 points or 0.73% to 1,284.93. Trading volume shrank to 258.25 million valued at RM386.72 million. There were 78 gainers, 439 losers while 154 stocks unchanged.
In Japan, the Nikkei 225 skidded 3.55% to 9,549.27; Hobng Kong's Hang seng Index fell 2.36% to 19,313.05 and Shanghai's Composite Index 2.09% lower at 2,500.31 while Singapore's Straits Times Index fell 1.99% to 2,750.64.
Light crude oil fell US$1.24 to US$70.27 while crude palm oil futures lost RM25 to RM2,423.
Meanwhile, Standard & Poor's Equity Research said buying opportunities exist in Asia, especially for better-managed blue chips, but cautioned that risks associated with Eurozone debt and slowing demand may dampen earnings outlook.
As for Malaysia, in terms of sectors, the report singled out Malaysian banks and healthcare.
"In the near term, we prefer to take a defensive stance although we advocate collection of some beaten down cyclical issues," said S&P Equity Research vice president Lorraine Tan.
S&P Equity Research believed the flow of projects in Malaysia should continue to support local building materials and CONSTRUCTION [] firms.
At Bursa Malaysia, among the 30-stock FBM KLCI, Maybank fell nine sen to RM7.29, GENTING BHD [] 15 sen to RM6.81, MISC 19 sen to RM8.35, dragging the index down a combined four points.
YTL lost 15 sen to RM7.30, CIMB fell four sen to RM6.88, Sime five sen to RM7.78, Pubpic Bank six sen to RM11.52, IOI four sen to RM4.93.
HL Industries was the top loser, down 67 sen to RM3.83, BAT 36 sen to RM43.90, Proton 25 sen to RM4.48 while SunCity lost 22 sen to RM3.60.
Kenmark bucked the trend, rising 1.5 sen to 27.5 sen with 41.79 million shares done.
Warisan rose 13 sen to RM2.45, Super 13 sen also to 73 sen while EON Cap added 10 sen to RM7.20 and KStar eight sen to RM2.31.
No comments:
Post a Comment