KUALA LUMPUR: Asian markets, including Bursa Malaysia, began the second half of the year in the red, dragged by concerns that of a slowdown in China's growth after manufacturing data showed activity had slowed.
While China's growth had been expected to cool from double-digit levels, the reports underscored investors' fears that the global economic recovery may be losing momentum amid Europe's debt crisis and persistent weakness in the US housing and labour markets, according to Reuters.
An official survey showed the pace of Chinese manufacturing activity slowed in June to the lowest since February, while HSBC's separate purchasing managers' index dropped to a 14-month low, with outright drops in output and new orders, it said.
Also weighing on Asian investor sentiment about the global growth prospects was Moody's statement that it may downgrade Spain's credit rating. Spain will hold an auction for 5-year bonds later on July 1.
At the regional markets today, Japan's Nikkei 225 fell 2.12% to 9,183.54 points, the South Korean Kospi down 1.35% to 1,675.43 points, Taiwan's Taiex Index 0.90% to 7,263.65 points, Singapore's Straits Times Index down 0.55% to 2,819.91 points and Shanghai's Composite Index declined 0.06% to 2,396.82 points. Hong Kong's Hang Seng Index is closed for a national holiday.
At Bursa Malaysia, the FBM KLCI fell 4.84 points to 1,309.18 points at 12.30pm. Gainers trailed losers by 143 to 316, while 240 counters traded unchanged. Volume was 214.87 million shares valued at RM441.19 million.
Among the major losers this morning, Tanjong fell 26 sen to RM17.18, Sime Darby down 10 sen to RM7.90, MISC five sen to RM8.55, MAS and RHB Capital down four sen each to RM2.03 and RM5.84, while Nestle fell 50 sen to RM34.50.
Tenaga fell three sen to RM8.38; Maybank, KLK, IOI Corp and PLUS lost two sen each to RM7.54, RM16.40, RM4.99 and RM3.39, respectively.
Other decliners this morning included Berjaya Sports Toto, Lafarge Malayan Cement, Kencana and Malaysian Mosaics.
Gainers this morning included Amway, MTD, KPJ Healthcare, SEG International, Top Glove, K-Star Sports, Parkson and KLCC Property.
Time was the most actively traded counter with 11.8 million shares traded. The stock fell 1.5 sen to 37.5 sen. Other actives this morning included Kumpulan Europlus, Maybank, AWC, Axiata, BJToto, Kencana and AMMB.
While China's growth had been expected to cool from double-digit levels, the reports underscored investors' fears that the global economic recovery may be losing momentum amid Europe's debt crisis and persistent weakness in the US housing and labour markets, according to Reuters.
An official survey showed the pace of Chinese manufacturing activity slowed in June to the lowest since February, while HSBC's separate purchasing managers' index dropped to a 14-month low, with outright drops in output and new orders, it said.
Also weighing on Asian investor sentiment about the global growth prospects was Moody's statement that it may downgrade Spain's credit rating. Spain will hold an auction for 5-year bonds later on July 1.
At the regional markets today, Japan's Nikkei 225 fell 2.12% to 9,183.54 points, the South Korean Kospi down 1.35% to 1,675.43 points, Taiwan's Taiex Index 0.90% to 7,263.65 points, Singapore's Straits Times Index down 0.55% to 2,819.91 points and Shanghai's Composite Index declined 0.06% to 2,396.82 points. Hong Kong's Hang Seng Index is closed for a national holiday.
At Bursa Malaysia, the FBM KLCI fell 4.84 points to 1,309.18 points at 12.30pm. Gainers trailed losers by 143 to 316, while 240 counters traded unchanged. Volume was 214.87 million shares valued at RM441.19 million.
Among the major losers this morning, Tanjong fell 26 sen to RM17.18, Sime Darby down 10 sen to RM7.90, MISC five sen to RM8.55, MAS and RHB Capital down four sen each to RM2.03 and RM5.84, while Nestle fell 50 sen to RM34.50.
Tenaga fell three sen to RM8.38; Maybank, KLK, IOI Corp and PLUS lost two sen each to RM7.54, RM16.40, RM4.99 and RM3.39, respectively.
Other decliners this morning included Berjaya Sports Toto, Lafarge Malayan Cement, Kencana and Malaysian Mosaics.
Gainers this morning included Amway, MTD, KPJ Healthcare, SEG International, Top Glove, K-Star Sports, Parkson and KLCC Property.
Time was the most actively traded counter with 11.8 million shares traded. The stock fell 1.5 sen to 37.5 sen. Other actives this morning included Kumpulan Europlus, Maybank, AWC, Axiata, BJToto, Kencana and AMMB.
No comments:
Post a Comment