Friday, September 3, 2010

FBM KLCI remains in the red, Genting, Sime weigh

KUALA LUMPUR: The FBM KLCI fell on Friday, Sept 3 as gains at most Asian markets were capped ahead of the US non-farm payroll data while investors closing out positions due to the three-day weekend in the US as the country observes the Labour Day holiday next Monday.

August non-farm payrolls are forecast to decline by 100,000, according to Reuters. In July, they fell 131,000.

At 12.30pm, the FBM KLCI fell 8.01 points to 1,433.06, dragged down by losses in Genting, Sime Darby, Maybank and PLUS. Losers beat gainers by 326 to 281, while 267 counters traded unchanged. Volume was 489.79 million shares valued at RM768.53 million.

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Nikkei 225 +0.21% 9,081.98 Hang Seng Index +0.08% 20,886.43 Taiwan's Taiex +1.36% 7,825.67 South Korea Kospi +0.09% 1,777.35 Shanghai Composite Index
-0.46% 2,643.50 Singapore Straits Times Index -0.20% 2,980.83 ''

Very actively traded counters were hard disk drive manufacturer JCY International, which saw 27.4 million shares done, and also property-related companies with interests in Iskandar Malaysia including MRCB, Tebrau and UEM Land.

Nestle was the top loser at the mid-day break, falling 28 sen to RM40.20; Genting fell 26 sen to RM9.22, Sime Darby down nine sen to RM8.33, Maybank and PLUS lost six sen each to RM8.44 and RM4.07, while Telekom fell five sen to RM3.39.

Petronas Dagangan fell 18 sen to RM11.42, KLCCP'' lost 12 sen to RM3.31, UMW down 11 sen to RM6.77 while KFCH lost 10 sen to RM11.18.

Among the gainers, Hai-O added 290 sen to RM3.23, Guinness rose 14 sen to RM8.24, Mintye and Berjaya Land up 12 sen each to RM1.20 and RM4.44, and MRCB and Boustead up 11 sen each to RM1.87 and RM4.50.

Proton rose 10 sen to RM4.76 while JT International and Mamee added nine sen each to RM5.65 and RM3.35.

JCY extending its rebound for the second day after the recent selldown. The stock gained eight sen to RM1.13.





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