KUALA LUMPUR:'' The FBM KLCI slipped into the red at midday on Tuesday, Sept 28, partly due to the weaker key regional markets and a less upbeat economic outlook for Malaysia from the Asian Development Bank (ADB).
At 12.30pm, the 30-stock FBM KLCI declined 0.23% or 3.37 points to 1,461.34. Gainers trailed losers by 213 to 389, while 288 counters traded unchanged. Volume was 539.91 million shares valued at RM573.77 million.
The ringgit weakened 0.03% against the US dollar to 3.0905; crude oil fell 37 cents per barrel to US$76.15, gold lost US$1.72 an ounce to US$1,292.63 while crude palm oil for the third month delivery fell RM9 per tonne to RM2,726.
The decline of the FBM KLCI was also in line with the general cautious trading mood across key regional markets, following the overnight dip at Wall Street.
Nikkei 225 -0.68% 9,538.18 Shanghai Composite Index -0.27% 2,620.75 Kospi Index -0.26% 1,855.99 Hang Seng Index -0.05% 22,329.46 Taiwan Taiex +0.07% 8,197.43 Singapore's Straits Times Index +0.12% 3,117.28 ''
ADB said Malaysia's economy was expected to moderate to a shade over 4% in the second half of this year and expand at 5% in 2011. The slower 2H growth would mainly be due to a base effect compared with 2H2009 when the economy picked up.
At Bursa Malaysia, the top loser was F&N that fell 16 sen to RM14.54; DFZ Capital shed 12 sen to RM3.78, PacificMas, BAT and Tenaga lost 10 sen each to RM4.50, RM48.38 and RM8.90 respectively, while WCT, Ingress and Public Bank fell eight sen each to RM2.99, 84 sen and RM12.48.
RHB Capital fell five sen to RM7.05, while CIMB and Gamuda lost three sen each to RM8.22 and RM3.86.
Genting was the top gainer and rose 14 sen to RM9.87 after OSK Research maintained its buy call on the stock and upped its target price to RM14.05.
Cycle & Carriage and QL Resources added 12 sen each to RM4.90 and RM4.67, Proton up 11 sen to RM4.91, Country View up 10.5 sen to 57.5 and Boustead up 10 sen to'' RM4.48.
The actively traded stocks were Karambunai, SAAG, Sunway REIT and Jaks Resources.
At 12.30pm, the 30-stock FBM KLCI declined 0.23% or 3.37 points to 1,461.34. Gainers trailed losers by 213 to 389, while 288 counters traded unchanged. Volume was 539.91 million shares valued at RM573.77 million.
The ringgit weakened 0.03% against the US dollar to 3.0905; crude oil fell 37 cents per barrel to US$76.15, gold lost US$1.72 an ounce to US$1,292.63 while crude palm oil for the third month delivery fell RM9 per tonne to RM2,726.
The decline of the FBM KLCI was also in line with the general cautious trading mood across key regional markets, following the overnight dip at Wall Street.
Nikkei 225 -0.68% 9,538.18 Shanghai Composite Index -0.27% 2,620.75 Kospi Index -0.26% 1,855.99 Hang Seng Index -0.05% 22,329.46 Taiwan Taiex +0.07% 8,197.43 Singapore's Straits Times Index +0.12% 3,117.28 ''
ADB said Malaysia's economy was expected to moderate to a shade over 4% in the second half of this year and expand at 5% in 2011. The slower 2H growth would mainly be due to a base effect compared with 2H2009 when the economy picked up.
At Bursa Malaysia, the top loser was F&N that fell 16 sen to RM14.54; DFZ Capital shed 12 sen to RM3.78, PacificMas, BAT and Tenaga lost 10 sen each to RM4.50, RM48.38 and RM8.90 respectively, while WCT, Ingress and Public Bank fell eight sen each to RM2.99, 84 sen and RM12.48.
RHB Capital fell five sen to RM7.05, while CIMB and Gamuda lost three sen each to RM8.22 and RM3.86.
Genting was the top gainer and rose 14 sen to RM9.87 after OSK Research maintained its buy call on the stock and upped its target price to RM14.05.
Cycle & Carriage and QL Resources added 12 sen each to RM4.90 and RM4.67, Proton up 11 sen to RM4.91, Country View up 10.5 sen to 57.5 and Boustead up 10 sen to'' RM4.48.
The actively traded stocks were Karambunai, SAAG, Sunway REIT and Jaks Resources.
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