KUALA LUMPUR: Asian markets slumped this morning, with the Shanghai Composite Index tumbling more than 2.8% on reports that South Korea planned to hold military drills, amidst threats of retaliation by North Korea.
Trading was light as the year-end holidays loomed, with investors reluctant to do much, having taken some profits recently when Asian stocks hit two-and-a-half year highs, according to Reuters.
China's key stock index fell, with a shortfall of money flows ahead of the year-end amid a tight monetary environment pressured the market, it said.
On Bursa Malaysia, the FBM KLCI fell 0.42% or 6.36 points to 1,493.52 at the mid-day break, weighed by losses at key blue chips including Genting, YTL, CIMB and Maybank
Losers beat gainers by 476 to 182, while 250 counters traded unchanged. Volume was 570.87 million shares valued at RM746.42 million.
The ringgit weakened 0.42% to 3.1495 versus the US dollar, crude palm oil for the third month delivery rose RM2 per tonne to RM3,503, crude oil fell 12 cents per barrel to US$87.90 while gold advanced US$7.98 per troy ounce to US$1,383.43.
At the regional markets, the Shanghai Composite Index fell 2.84% to 2,811.53, Hong Kong's Hang Seng Index lost 1.10% to 22,465.15, Japan's Nikkei 225 was down 1.02% to 10,198.22, the South Korean Kospi fell 1.01% to 2,005.85, Singapore's Straits Times Index fell 0.85% to 3,126.21 and the Taiwan Taiex shed 0.67% to 8,759.21.
On Bursa Malaysia, PPB was the top loser this morning and fell 42 sen to RM16.72; BAT fell 38 sen to RM44.50, Malaysia Smelting Corp fell 35 sen to RM4.45, Batu Kawan was down 30 sen to RM16.30, UAC fell 22 sen to RM3.48, Dutch Lady was down 20 sen to RM17.74, Genting fell 16 sen to RM10.34, YTL lost 13 sen to RM8.27, CIMB fell four sen to RM8.47 while Maybank lost three sen to RM8.48.
The top gainer at the mid-day break IJM Corp, which rose to its highest level since Feb 2007 on getting the RM461 million contract from Naza TTDI.
The stock added 18 sen to RM6.45.
Other gainers included Cocoaland, Hap Seng, Digi, Toyo Ink, MPI, Lysaght, Metrod and DFZ Capital.
Olympia was the most actively traded counter with 31.1 million shares done. The stock added half a sen to 34 sen. Other actives included DRB-Hicom shares and warrants, Gamuda shares and warrants, Compugates, MAA Holdings and Baneng.
Trading was light as the year-end holidays loomed, with investors reluctant to do much, having taken some profits recently when Asian stocks hit two-and-a-half year highs, according to Reuters.
China's key stock index fell, with a shortfall of money flows ahead of the year-end amid a tight monetary environment pressured the market, it said.
On Bursa Malaysia, the FBM KLCI fell 0.42% or 6.36 points to 1,493.52 at the mid-day break, weighed by losses at key blue chips including Genting, YTL, CIMB and Maybank
Losers beat gainers by 476 to 182, while 250 counters traded unchanged. Volume was 570.87 million shares valued at RM746.42 million.
The ringgit weakened 0.42% to 3.1495 versus the US dollar, crude palm oil for the third month delivery rose RM2 per tonne to RM3,503, crude oil fell 12 cents per barrel to US$87.90 while gold advanced US$7.98 per troy ounce to US$1,383.43.
At the regional markets, the Shanghai Composite Index fell 2.84% to 2,811.53, Hong Kong's Hang Seng Index lost 1.10% to 22,465.15, Japan's Nikkei 225 was down 1.02% to 10,198.22, the South Korean Kospi fell 1.01% to 2,005.85, Singapore's Straits Times Index fell 0.85% to 3,126.21 and the Taiwan Taiex shed 0.67% to 8,759.21.
On Bursa Malaysia, PPB was the top loser this morning and fell 42 sen to RM16.72; BAT fell 38 sen to RM44.50, Malaysia Smelting Corp fell 35 sen to RM4.45, Batu Kawan was down 30 sen to RM16.30, UAC fell 22 sen to RM3.48, Dutch Lady was down 20 sen to RM17.74, Genting fell 16 sen to RM10.34, YTL lost 13 sen to RM8.27, CIMB fell four sen to RM8.47 while Maybank lost three sen to RM8.48.
The top gainer at the mid-day break IJM Corp, which rose to its highest level since Feb 2007 on getting the RM461 million contract from Naza TTDI.
The stock added 18 sen to RM6.45.
Other gainers included Cocoaland, Hap Seng, Digi, Toyo Ink, MPI, Lysaght, Metrod and DFZ Capital.
Olympia was the most actively traded counter with 31.1 million shares done. The stock added half a sen to 34 sen. Other actives included DRB-Hicom shares and warrants, Gamuda shares and warrants, Compugates, MAA Holdings and Baneng.
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