KUALA LUMPUR:'' Selling pressure accelerated across Asia on lingering talk of more interest rate increases and a scramble out of resource-related shares, with the FBM KLCI falling below the 1,500 level in the afternoon trade on Friday, Nov 12.
At 2.52pm, the FBM KLCI fell 20.20 points to 1,493.50. Turnover was 1.04 billion shares valued at RM1.23 billion. Losers hammered gainers 705 to 140.
KL Kepong was the top loser, down 90 sen to RM19.30, Genting 40 sen to RM10.20, KFCH 25 sen to RM4.04, Kulim 22 sen to RM13.20 while Sime and DiGi shed 20 sen each to RM8.74 and RM24.26.
Reuters reported the South Korean won suffered its biggest daily percentage loss in almost five months on Friday, pressured by mounting cautions that the financial authorities may announce measures after the G20 summit to curb hot money inflows.
The euro fell on Friday on fears that Ireland may need a bailout just like Greece, while a sharp decline in commodities and stock prices hastened a broad retreat from risky assets.
Asian stocks were broadly lower, led by a 5 percent drop in the Shanghai composite index -- its biggest single-day decline since May.
Plain old profit taking was also the culprit after a months'-long rally in many markets.
This year has been difficult for many investors because of the sudden shifts in risk taking on everything from the sovereign debt crisis in Europe, fears of both a slowdown and overheating in China and worries about the U.S. double dipping back into recession, causing havoc to trading strategies.As a result, many investors may be prone to take profits -- or losses -- and wait for 2011.
At 2.52pm, the FBM KLCI fell 20.20 points to 1,493.50. Turnover was 1.04 billion shares valued at RM1.23 billion. Losers hammered gainers 705 to 140.
KL Kepong was the top loser, down 90 sen to RM19.30, Genting 40 sen to RM10.20, KFCH 25 sen to RM4.04, Kulim 22 sen to RM13.20 while Sime and DiGi shed 20 sen each to RM8.74 and RM24.26.
Reuters reported the South Korean won suffered its biggest daily percentage loss in almost five months on Friday, pressured by mounting cautions that the financial authorities may announce measures after the G20 summit to curb hot money inflows.
The euro fell on Friday on fears that Ireland may need a bailout just like Greece, while a sharp decline in commodities and stock prices hastened a broad retreat from risky assets.
Asian stocks were broadly lower, led by a 5 percent drop in the Shanghai composite index -- its biggest single-day decline since May.
Plain old profit taking was also the culprit after a months'-long rally in many markets.
This year has been difficult for many investors because of the sudden shifts in risk taking on everything from the sovereign debt crisis in Europe, fears of both a slowdown and overheating in China and worries about the U.S. double dipping back into recession, causing havoc to trading strategies.As a result, many investors may be prone to take profits -- or losses -- and wait for 2011.
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