Friday, July 16, 2010

FBM KLCI stays in the red amid lacklustre trade

KUALA LUMPUR: The FBM KLCI remained in negative territory at 10am on Friday, July 17 in line with regional markets as concerns that a slowing economic growth in China could hit exporters caused investors to take profit.

Also, the overnight flat closing at Wall Street had given rise to worries that the pace of economic growth could be slower than expected.

At Bursa Malaysia, the FBM KLCI shed 0.34 of a point to 1,333.74, with losses including at PPB and Petronas Gas (PetGas). Gainers led losers by 151 to 132, while 198 counters traded unchanged. Volume was 133.42 million shares valued at RM114.26 million.

At the regional markets, Japan's Nikkei 225 fell 1.6% to 9,530.49, the Shanghai Composite Index 0.74% to 2,406.48, the South Korean Kospi down 0.52% to 1,742.21, Taiwan's Taiex down 0.29% to 7,682.13 and Singapore's Straits Times Index slipped 0.02% to 2,942.92.

Hong Kong's Hang Seng Index, however, opened 0.2% higher at 20.293.61.

On Bursa Malaysia, the top loser at 10am was F&N, which fell 18 sen to RM14.02. PPB and PetGas lost 14 sen each RM17.26 and RM10.16 respectively, Batu Kawan down eight sen to RM10.68, Tahps seven sen to RM3.65 and MPI down six sen to RM6.22.

Pharmaniaga shed five sen to RM5.45, while Perduren and UMW lost four sen each to RM1.01 and RM6.30 respectively.

Meanwhile, CapitaMalls Malaysia Trust (CMMT), which made its debut on the Main Market of Bursa Malaysia on Firday, slipped two sen to 98 sen with 7.47 million units done.

Kossan was the top gainer and added 28 sen to RM8.46.

Scomi Engineering, which announced a total gross special interim dividend of 29.5 sen per share, rose 25 sen to RM1.40.

Hup Seng, Jetson and Jetson warrants added 16 sen each to RM1.73, RM1.71 and 99.5 sen, respectively, while Cocoaland added 14 sen to RM1.92.

Time was the most actively traded counter with 11 million shares done. The counter gained 2.5 sen to 43.5 sen.

Other actives included Jetson, CMMT, Timecom and Berjaya Corp.

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