KUALA LUMPUR: Stocks on Bursa Malaysia took a breather on Thursday, July 15 as some investors decided to take profit after seven days of straight gains, taking their cue from key regional markets and the mixed close on Wall Street.
At 12.30pm, the FBM KLCI fell 6.37 points to 1,334.71, with losses at key blue chips including Genting, Maybank, CIMB and YTL Corp. Losers beat gainers by 352 to 181, while 262 counters traded unchanged. Volume was 313.11 million shares valued at RM514.55 million.
Crude palm futures for the third month delivery rose RM12 per tonne to RM2,375; gold rose US$3.05 per ounce to US$1,211.35 while crude oil shed 18 cents per barrel to US$76.86.
The US Federal Reserve minutes suggested additional measures may be needed for the economy. The minutes of the Fed's June meeting showed officials were concerned with the pace of economic recovery, adding to jitters stoked by a report showing June retail sales fell more than expected.
However, the Asian stocks reversed most of their early losses after data from China showed that the economy was slowing gradually but delivered no nasty surprises.
China's annual economic growth eased to 10.3% in the second quarter from 11.9% in the first quarter, a touch weaker than expected, in response to credit curbs and the fading of government fiscal stimulus, according to Reuters.
Nevertheless, the data showed concerns abut a steep slowdown in the world's third-largest economy were overblown. Inflation at the producer and consumer level also eased in June from May, reducing the need for further policy tightening, it said.
Nikkei 225 -0.94% 9,702.74 Hang Seng Index -0.47% 20,464.40 Shanghai Composite Index -0.36% 2,461.61 Kospi Index -0.31% 1,752.64 Singapore's Straits Times Index -0.14% 2,948.61 Taiex Index -0.10% 7,706.94 ''
Among the major losers, Panasonic fell 34 sen to RM18.54, Cepco lost 30 sen to RM2.25, and Nestle and Hong Leong Financial Group lost 10 sen each to RM35.90 and RM8.35.
Genting fell nine sen to RM7.39 and Genting Malaysia lost six sen to RM2.70 on reports that a US state Supreme Court judge ordered a halt to the latest Aqueduct bidding process.
Other decliners this morning included Maybank, Axiata, Public Bank, CIMB, PLUS, YTL and Boustead.
F&N was the top gainer, adding 40 sen to RM14; Jetson's mother share and loan stocks jumped 33 sen each to RM1.44 each, respectively while its warrants rose 30 sen to 68 sen.
LPI Capital added 30 sen to RM17.92, Keck Seng and KFCH up 22 sen each to RM5.42 and RM11.14, Shell up 16 sen to RM10.86 while C.I.Holdings rose 13 sen to RM2.77.
Time dotCom was the most actively traded counter with 27.2 million shares done. The stock added one sen to 53 sen. Other actives this morning included XDL, Titan, KNM, Jetson, Time, Kimlun, CIMB, Tenaga and Maybank.
At 12.30pm, the FBM KLCI fell 6.37 points to 1,334.71, with losses at key blue chips including Genting, Maybank, CIMB and YTL Corp. Losers beat gainers by 352 to 181, while 262 counters traded unchanged. Volume was 313.11 million shares valued at RM514.55 million.
Crude palm futures for the third month delivery rose RM12 per tonne to RM2,375; gold rose US$3.05 per ounce to US$1,211.35 while crude oil shed 18 cents per barrel to US$76.86.
The US Federal Reserve minutes suggested additional measures may be needed for the economy. The minutes of the Fed's June meeting showed officials were concerned with the pace of economic recovery, adding to jitters stoked by a report showing June retail sales fell more than expected.
However, the Asian stocks reversed most of their early losses after data from China showed that the economy was slowing gradually but delivered no nasty surprises.
China's annual economic growth eased to 10.3% in the second quarter from 11.9% in the first quarter, a touch weaker than expected, in response to credit curbs and the fading of government fiscal stimulus, according to Reuters.
Nevertheless, the data showed concerns abut a steep slowdown in the world's third-largest economy were overblown. Inflation at the producer and consumer level also eased in June from May, reducing the need for further policy tightening, it said.
Nikkei 225 -0.94% 9,702.74 Hang Seng Index -0.47% 20,464.40 Shanghai Composite Index -0.36% 2,461.61 Kospi Index -0.31% 1,752.64 Singapore's Straits Times Index -0.14% 2,948.61 Taiex Index -0.10% 7,706.94 ''
Among the major losers, Panasonic fell 34 sen to RM18.54, Cepco lost 30 sen to RM2.25, and Nestle and Hong Leong Financial Group lost 10 sen each to RM35.90 and RM8.35.
Genting fell nine sen to RM7.39 and Genting Malaysia lost six sen to RM2.70 on reports that a US state Supreme Court judge ordered a halt to the latest Aqueduct bidding process.
Other decliners this morning included Maybank, Axiata, Public Bank, CIMB, PLUS, YTL and Boustead.
F&N was the top gainer, adding 40 sen to RM14; Jetson's mother share and loan stocks jumped 33 sen each to RM1.44 each, respectively while its warrants rose 30 sen to 68 sen.
LPI Capital added 30 sen to RM17.92, Keck Seng and KFCH up 22 sen each to RM5.42 and RM11.14, Shell up 16 sen to RM10.86 while C.I.Holdings rose 13 sen to RM2.77.
Time dotCom was the most actively traded counter with 27.2 million shares done. The stock added one sen to 53 sen. Other actives this morning included XDL, Titan, KNM, Jetson, Time, Kimlun, CIMB, Tenaga and Maybank.
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