Friday, November 26, 2010

KLCI extends losses in afternoon, on Europe, Korea worries

KUALA LUMPUR: External worries from a possible Europe debt crisis, weaker China markets and heightening Korean conflict weighed on the markets.

At 2.35pm, the FBM KLCI fell 4.87 points to 1,491.62. Turnover was 955.53 million shares valued at RM3.26 billion. There were 184 gainers, 469 losers and 265 counters unchanged.

In Seoul, the Korea Composite Stock Price Index <.KS11> (KOSPI) ended down 1.34%'' at 1,901.80 points, weighed down by growing caution in the run-up to scheduled joint U.S.-South Korean military drills this weekend and by declines in banks such as Hana Financial Group Inc.

The euro hovered near a two-month low against a broadly recovering dollar on Friday as a relentless rise in euro zone countries' bond yields fanned worries over their debt financing.

BAT fell 50 sen to RM44.40, DiGi 32 sen to RM24.38, YTL 22 sen to RM8.30 and Genting 22 sen to RM10.18 while SunCity shed 10 sen to RM4.50 and Genting PLANTATION []s 10 sen to RM8.67.

QSR held on to its gains, up 54 sen at RM6.15, Kulim 36 sen to RM12.36 and QSR-WB 31 sen to RM3.19. Petronas Chemicals rose 27 sen to RM5.47.

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