KUALA LUMPUR: Asian and European markets slumped on Tuesday, Sept 28, on concerns about the economic recovery while at Bursa Malaysia, the FBM KLCI dipped below the 1,460 level.
The FBM KLCI closed 5.07 points lower at 1,459.64. Turnover was 976.98 million shares valued at RM1.35 billion. The broader market was cautious, with decliners leading advancers 493 to 244 while 289 stocks were unchanged.
Reuters reported Hong Kong and Shanghai stocks fell as a mild selloff in large caps drove the Hang Seng down and weakness in financials and poor debut of Ningbo Port weakened China's key stock index.
The Hang Seng Index, which is poised to post its best monthly gain since July 2009, fell 1% to 22,109.95 led by local property developers and index heavyweights.
At Bursa Malaysia, Tenaga was the main drag on the 30-stock index, down 12 sen to RM8.88. AirAsia lost 11 sen to RM2.14 and PPB 10 sen to RM16.90.
The top loser was Tan Chong, which had a strong run-up in recent weeks as it rode on the strong sales volume. The share price fell 24 sen to RM5.71.
F&N lost 22 sen to RM14.48, Parkson 16 sen to RM5.70 and Pacific Mas 10 sen to RM4.50.
In Europe, weaker banks and commodity stocks pushed Britain's top share index lower early as confidence in the global economic recovery ebbed slightly and concerns about Europe's debt situation prompted equity sales.
Ireland could face a credit downgrade unless it convinces markets it has a grip on the final cost of dealing with nationalised Anglo Irish Bank, Fitch Ratings said on.
''
"I cannot pretend that the current rating is totally secure but that does not mean that negative action is imminent or inevitable," Fitch senior analyst Chris Pryce told Reuters in a telephone interview.
''
Earlier on Tuesday, another agency Standard & Poor's warned it may cut Ireland's credit rating again due to the rising cost of recapitalising Anglo Irish, pushing Dublin's borrowing costs to fresh peaks.
The FBM KLCI closed 5.07 points lower at 1,459.64. Turnover was 976.98 million shares valued at RM1.35 billion. The broader market was cautious, with decliners leading advancers 493 to 244 while 289 stocks were unchanged.
Reuters reported Hong Kong and Shanghai stocks fell as a mild selloff in large caps drove the Hang Seng down and weakness in financials and poor debut of Ningbo Port weakened China's key stock index.
The Hang Seng Index, which is poised to post its best monthly gain since July 2009, fell 1% to 22,109.95 led by local property developers and index heavyweights.
At Bursa Malaysia, Tenaga was the main drag on the 30-stock index, down 12 sen to RM8.88. AirAsia lost 11 sen to RM2.14 and PPB 10 sen to RM16.90.
The top loser was Tan Chong, which had a strong run-up in recent weeks as it rode on the strong sales volume. The share price fell 24 sen to RM5.71.
F&N lost 22 sen to RM14.48, Parkson 16 sen to RM5.70 and Pacific Mas 10 sen to RM4.50.
In Europe, weaker banks and commodity stocks pushed Britain's top share index lower early as confidence in the global economic recovery ebbed slightly and concerns about Europe's debt situation prompted equity sales.
Ireland could face a credit downgrade unless it convinces markets it has a grip on the final cost of dealing with nationalised Anglo Irish Bank, Fitch Ratings said on.
''
"I cannot pretend that the current rating is totally secure but that does not mean that negative action is imminent or inevitable," Fitch senior analyst Chris Pryce told Reuters in a telephone interview.
''
Earlier on Tuesday, another agency Standard & Poor's warned it may cut Ireland's credit rating again due to the rising cost of recapitalising Anglo Irish, pushing Dublin's borrowing costs to fresh peaks.
No comments:
Post a Comment