Thursday, October 7, 2010

Mixed signals prompt investor to lock in gains

KUALA LUMPUR: The FBM KLCI was in the red at the mid-day break on Thursday, Oct 7 as regional markets fluctuated amidst mixed signals on the direction of the global economy.

Asian markets initially started trading in the red after TECHNOLOGY [] stocks fell overnight at Wall Street before perking up on encouraging employment data from Australia. However, as trading continued, most of the regional markets fell.

At Bursa Malaysia, the 30-stock FBM KLCI fell 0.11% or 1.59 points to 1,478.02 after having started the day at above the 1,480-point level.

Gainers trailed losers by 218 to 379, while 279 counters traded unchanged. Volume was 375.35 million shares valued at RM615.96 million.

Japan's Nikkei 225 -0.34% to 9,658.43, Hong Kong's Hang Seng Index shed 0.11% to 22,856.05, the South Korean Kospi fell 0.16% to 1,900.90, Singapore's Straits Times Index down 0.60% to 3,170.84 while Taiwan's Taiex added 0.04% to 8,287.31.

The China stock markets are closed for a national holiday.

The ringgit weakened 0.12% to 3.0963 versus the greenback; crude palm oil for the third month delivery rose RM12 per tonne to RM2,748; crude oil rose 26 cents per barrel to US$83.49 while gold jumped US$3.50 an ounce to US$1,352.55.

Among the major decliners, Nestle fell 30 sen to RM43.60, Petronas Dagangan lost 16 sen to RM10.84, Hong Leong Financial Group fell nine sen to RM9.06, Hong Leong Bank and MISC fell five sen each to RM9.25 and RM8.80, while AMMB and MMC Corp shed three sen each to RM5.94 and RM3.10.

Glove makers also fell, with Top Glove down 15 sen to RM5.45, Supermax down 11 sen to RM4.15 and Latexx seven sen to RM2.71.

Among the gainers, Mudajaya rose 17 sen to RM4.61 prior to being suspended at 11.12am today pending a material announcement.

Padini was up 16 sen to RM4.94, Dutch Lady up 14 sen to RM16.88, S P Setia and YTL Cement gained 10 sen each to RM4.90 and RM4.70, MAHB and Kimlun rose nine sen each to RM5.83 and RM1.39, while Mah Sing rose eight sen to RM1.98.

Dialog was the most actively traded counter with 9.68 million shares done. The stock added two sen to RM1.15.

Other actives included Karambunai, JCY International, Jadi Imaging, Berjaya Corp and Mulpha.


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