KUALA LUMPUR: The market closed broadly lower on Wednesday, Aug 9 in line with the cautious sentiment in key Asian markets and European bourses on concerns about slowing economic growth.
The FBM KLCI closed 6.8 points lower at 1,352.91. Turnover was 769.87 million shares valued at RM1.17 billion. Losers beat gainers more than two to one, with 463 decliners and 207 advancers.
Among key regional markets, Japan's Nikkei 225 fell 2.7% to 9,292.85 and Hong Kong's Hang Seng Index slipped 0.83% to 21,294.54, South Korea's Kospi fell 1.29% to 1,758.19 and Singapore's Straits Times Index 1.07% to 2,952.25.
According to Reuters, after the Federal Reserve offered a more pessimistic view of the weakening US economy on Tuesday, data showed growth in Chinese investment and factory output slowed further last month as the government brought credit growth back to normal after a record lending spree in 2009.
At Bursa Malaysia, recent food and beverage companies were among the major losers but trading volume was thin. Nestle fell 38 sen to RM39 while F&N shed 34 sen to RM13.90, the biggest single-day loss in recent weeks. DiGi shed 36 sen to RM24.36.
Banks fell as investors turned cautious about the outlook for the equities markets. CIMB lost six sen to RM7.03, dragging the index down by 1.03 points while Maybank shed three sen to RM7.70, Public Bank four sen to RM11.96, AMMB five sen and Hong Leong Bank 11 sen to RM8.86.
Among PLANTATION []s,'' BATU KAWAN BHD [] was the worst performer, down 30 sen to RM11.80, BLD Plantations Bhd 13 sen lower at RM4.23 and Kulim Bhd seven sen to RM8.10.
IJM PLANTATIONS BHD [] shed six sen to RM2.53, IOI Corp Bhd three sen to RM5.12'' and Genting Plantations Bhd two sen lower at RM7.30. Diversified conglomerate SIME DARBY BHD [] shed one sen to RM7.60.
However, KUALA LUMPUR KEPONG BHD [] managed to buck the other counters to climb 14 sen to RM16.98.
CIMB Equities Research said it maintained its "Underweight" view on the plantations sector as it is less upbeat on CPO price in 2011, which will in turn slow down the earnings momentum for plantation companies.
The FBM KLCI closed 6.8 points lower at 1,352.91. Turnover was 769.87 million shares valued at RM1.17 billion. Losers beat gainers more than two to one, with 463 decliners and 207 advancers.
Among key regional markets, Japan's Nikkei 225 fell 2.7% to 9,292.85 and Hong Kong's Hang Seng Index slipped 0.83% to 21,294.54, South Korea's Kospi fell 1.29% to 1,758.19 and Singapore's Straits Times Index 1.07% to 2,952.25.
According to Reuters, after the Federal Reserve offered a more pessimistic view of the weakening US economy on Tuesday, data showed growth in Chinese investment and factory output slowed further last month as the government brought credit growth back to normal after a record lending spree in 2009.
At Bursa Malaysia, recent food and beverage companies were among the major losers but trading volume was thin. Nestle fell 38 sen to RM39 while F&N shed 34 sen to RM13.90, the biggest single-day loss in recent weeks. DiGi shed 36 sen to RM24.36.
Banks fell as investors turned cautious about the outlook for the equities markets. CIMB lost six sen to RM7.03, dragging the index down by 1.03 points while Maybank shed three sen to RM7.70, Public Bank four sen to RM11.96, AMMB five sen and Hong Leong Bank 11 sen to RM8.86.
Among PLANTATION []s,'' BATU KAWAN BHD [] was the worst performer, down 30 sen to RM11.80, BLD Plantations Bhd 13 sen lower at RM4.23 and Kulim Bhd seven sen to RM8.10.
IJM PLANTATIONS BHD [] shed six sen to RM2.53, IOI Corp Bhd three sen to RM5.12'' and Genting Plantations Bhd two sen lower at RM7.30. Diversified conglomerate SIME DARBY BHD [] shed one sen to RM7.60.
However, KUALA LUMPUR KEPONG BHD [] managed to buck the other counters to climb 14 sen to RM16.98.
CIMB Equities Research said it maintained its "Underweight" view on the plantations sector as it is less upbeat on CPO price in 2011, which will in turn slow down the earnings momentum for plantation companies.
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