KUALA LUMPUR: Blue chips closed lower in cautious trade on Monday, Nov 22,'' ahead of the third quarter gross domestic product (GDP) data announcement and also in line with some Asian markets, including China and Hong Kong.
Investors decided to withdraw to the sidelines as they awaited the 3Q GDP, which grew at a slow pace of 5.3% on-year compared with 8.9% a year ago due to slower exports growth. However, Prime Minister Datuk Seri Najib Razak said earlier Monday the economy would be able to achieve growth of beyond 6% for 2010.
At Bursa, the FBM KLCI shed 0.19% or 2.85 points to 1,503.20, weighed by losses including at DiGi, BAT and PPB. Losers led gainers by 397 to 347, while 289 counters traded unchanged. Volume was 968.59 million shares valued at RM1.17 billion.
The sentiment at the local market was seemingly more in line with the trend at regional markets, where stocks in Hong Kong and China dipped after the former imposed fresh measures to cool the property sector and the latter raised banks' reserve ratios again to curb inflationary pressures.
Most other markets in Asia also pared down their earlier gains, as the developments in the two countries overshadowed the brief respite that came after Ireland agreed to a rescue package from European partners and the International Monetary Fund.
Hong Kong's Hang Seng Index fell 0.35% to 23,524,02, the Shanghai Composite Index slipped 0.15% to 2,884.37 and Singapore's Straits Times Index lost 0.20% to 3,190.92.
Japan's Nikkei 225 closed 0.93% higher at 10,115.19, Taiwan's Taiex added 0.83% to 8,374.91 and the South Korean Kospi rose 0.17% to 1,944.34.
At Bursa Malaysia, QSR Brands was among the major losers as investors showed their disappointment with the indicative offer of RM5.60 a share by Idaman Saga, a private company owned by Tan Sri Halim Saad and Datuk Che Mokhtar Che Ali.
Kulim fell 88 sen to RM12.66; QSR lost 37 sen to RM5.39 and KFCH 25 sen lower at RM4
PPB lost 28 sen to RM18.80 ahead of its earnings which later showed that 3Q net profit fell to net profit RM288 million versus RM596 million a year ago on lower profit contribution from Wilmar.
DiGi fell 80 sen to RM24.80 on expectations of tougher competition ahead while BAT shed 38 sen to RM45.16.
Time dotCom rose 5.5 sen to 71 sen and Time Engineering 1.5 sen to 44 sen in active trade. Time dotCom proposed a share capital reduction and share consolidation which saw the shares coming under selling pressure last week.
Investors decided to withdraw to the sidelines as they awaited the 3Q GDP, which grew at a slow pace of 5.3% on-year compared with 8.9% a year ago due to slower exports growth. However, Prime Minister Datuk Seri Najib Razak said earlier Monday the economy would be able to achieve growth of beyond 6% for 2010.
At Bursa, the FBM KLCI shed 0.19% or 2.85 points to 1,503.20, weighed by losses including at DiGi, BAT and PPB. Losers led gainers by 397 to 347, while 289 counters traded unchanged. Volume was 968.59 million shares valued at RM1.17 billion.
The sentiment at the local market was seemingly more in line with the trend at regional markets, where stocks in Hong Kong and China dipped after the former imposed fresh measures to cool the property sector and the latter raised banks' reserve ratios again to curb inflationary pressures.
Most other markets in Asia also pared down their earlier gains, as the developments in the two countries overshadowed the brief respite that came after Ireland agreed to a rescue package from European partners and the International Monetary Fund.
Hong Kong's Hang Seng Index fell 0.35% to 23,524,02, the Shanghai Composite Index slipped 0.15% to 2,884.37 and Singapore's Straits Times Index lost 0.20% to 3,190.92.
Japan's Nikkei 225 closed 0.93% higher at 10,115.19, Taiwan's Taiex added 0.83% to 8,374.91 and the South Korean Kospi rose 0.17% to 1,944.34.
At Bursa Malaysia, QSR Brands was among the major losers as investors showed their disappointment with the indicative offer of RM5.60 a share by Idaman Saga, a private company owned by Tan Sri Halim Saad and Datuk Che Mokhtar Che Ali.
Kulim fell 88 sen to RM12.66; QSR lost 37 sen to RM5.39 and KFCH 25 sen lower at RM4
PPB lost 28 sen to RM18.80 ahead of its earnings which later showed that 3Q net profit fell to net profit RM288 million versus RM596 million a year ago on lower profit contribution from Wilmar.
DiGi fell 80 sen to RM24.80 on expectations of tougher competition ahead while BAT shed 38 sen to RM45.16.
Time dotCom rose 5.5 sen to 71 sen and Time Engineering 1.5 sen to 44 sen in active trade. Time dotCom proposed a share capital reduction and share consolidation which saw the shares coming under selling pressure last week.
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