KUALA LUMPUR: Asian markets retreated on Wednesday, Aug 11 as growth in China's investment and factory output slowed down, while the republic's consumer price inflation rose 3.3% from a year earlier.
On Wednesday morning, Asian shares dipped on worries that the economic recovery in the US might be slower than expected.
The fall in regional shares was largely contained, however, as the Fed's move to buy more US government bonds had been expected after a string of weak economic reports in recent months raised fears it could slide back into recession, according to Reuters.
Traders also drew some comfort from fresh data from China, which confirmed its economic growth was moderating but showed no signs it was in danger of a hard landing, it said.
At the regional markets, Japan's Nikkei 225 lost 2.6% to 9,302.59, Taiwan's Taiex fell 1.02% to 7,895.34, Singapore's Straits Times Index down 0.94% to 2,956.33, the South Korean Kospi down 0.90% to 1,765.13 and Hong Kong's Hang Seng Index shed 0.20% to 21,429.65. Meanwhile, the Shanghai Composite Index added 0.02% to 2,592.81.
On Bursa Malaysia, the FBM KLCI lost 5.72 points to 1,353.99 at the mid-day break, dragged by losses including at Genting, CIMB, Maybank and Sime Darby. PLANTATION [] counters also declined this morning after CIMB Research maintained its underweight call on the sector.
Gainers beat losers by 380 to 180, while 233 counters traded unchanged. Volume was 342.67 million shares valued at RM436.66 million.
Crude palm oil futures for the third month delivery declined RM2 per tonne to RM2,650; gold fell US$1.90 to US$1,202.35 (RM3,799.43) while oil shed 39 cents per barrel to US$79.86.
Among the major losers, Genting fell nine sen to RM7.79, CIMB and Maybank lost three sen each to RM7.33 and RM7.70, AMMB down five sen to RM5.16, IOI Corp four sen to RM5.11.
Public Bank two sen to RM11.98 while Sime Darby shed one sen to RM7.60. Batu Kawan fell 20 sen to RM11.90, United Plantations lost 16 sen to RM14.62.
BLD Plantation, F&N and Top Glove lost 14 sen each to RM4.22, RM14.10 and RM6.27, respectively, while EPIC and Lafarge fell 10 sen each to RM2.09 and RM7.06.
Multi Sports was the most actively traded counter with 24.1 million shares done. The stock added six sen to 56 sen. Other actives included Talam, Zelan, TMC Life, Timecom, Xidelang and Mieco.
HELP was the top gainer and was up 25 sen to RM4; Atlan added 23 sen to RM3.40, Tomypak up 15 sen to RM3.39, BHIC 13 sen to RM4.44 while SEG International rose 12 sen to RM2.39. Other gainers included Boustead, Mieco, Huat Lai and Gopeng.
On Wednesday morning, Asian shares dipped on worries that the economic recovery in the US might be slower than expected.
The fall in regional shares was largely contained, however, as the Fed's move to buy more US government bonds had been expected after a string of weak economic reports in recent months raised fears it could slide back into recession, according to Reuters.
Traders also drew some comfort from fresh data from China, which confirmed its economic growth was moderating but showed no signs it was in danger of a hard landing, it said.
At the regional markets, Japan's Nikkei 225 lost 2.6% to 9,302.59, Taiwan's Taiex fell 1.02% to 7,895.34, Singapore's Straits Times Index down 0.94% to 2,956.33, the South Korean Kospi down 0.90% to 1,765.13 and Hong Kong's Hang Seng Index shed 0.20% to 21,429.65. Meanwhile, the Shanghai Composite Index added 0.02% to 2,592.81.
On Bursa Malaysia, the FBM KLCI lost 5.72 points to 1,353.99 at the mid-day break, dragged by losses including at Genting, CIMB, Maybank and Sime Darby. PLANTATION [] counters also declined this morning after CIMB Research maintained its underweight call on the sector.
Gainers beat losers by 380 to 180, while 233 counters traded unchanged. Volume was 342.67 million shares valued at RM436.66 million.
Crude palm oil futures for the third month delivery declined RM2 per tonne to RM2,650; gold fell US$1.90 to US$1,202.35 (RM3,799.43) while oil shed 39 cents per barrel to US$79.86.
Among the major losers, Genting fell nine sen to RM7.79, CIMB and Maybank lost three sen each to RM7.33 and RM7.70, AMMB down five sen to RM5.16, IOI Corp four sen to RM5.11.
Public Bank two sen to RM11.98 while Sime Darby shed one sen to RM7.60. Batu Kawan fell 20 sen to RM11.90, United Plantations lost 16 sen to RM14.62.
BLD Plantation, F&N and Top Glove lost 14 sen each to RM4.22, RM14.10 and RM6.27, respectively, while EPIC and Lafarge fell 10 sen each to RM2.09 and RM7.06.
Multi Sports was the most actively traded counter with 24.1 million shares done. The stock added six sen to 56 sen. Other actives included Talam, Zelan, TMC Life, Timecom, Xidelang and Mieco.
HELP was the top gainer and was up 25 sen to RM4; Atlan added 23 sen to RM3.40, Tomypak up 15 sen to RM3.39, BHIC 13 sen to RM4.44 while SEG International rose 12 sen to RM2.39. Other gainers included Boustead, Mieco, Huat Lai and Gopeng.
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