Wednesday, December 1, 2010

FBM KLCI remains in red at mid-day

KUALA LUMPUR:'' The FBM KLCI remained in negative territory at the mid-day break on Wednesday, Dec 1 in line with most key regional markets as investors stayed on the sidelines after the overnight dip at Wall Street.

Most regional investors were also staying on the sidelines, awaiting employment and retail sales data due out in the US later today as well as ahead of the factory orders and ISM non-manufacturing index to be released on Friday.

Worries on the euro zone sovereign debt crisis still weigh heavily on Asian investors, as Standard and Poor's placed Portugal's A-minus credit ratings on review for a possible downgrade, citing uncertainties related to a potential financial rescue by the EU and the IMF.

At Bursa Malaysia, the FBM KLCI slipped 0.27% or 3.96 points to 1,481.27, weighed down by key blue chips including Maybank, CIMB, Sime Darby and Petronas Chemicals. Losers beat gainers by 450 to 169, while 249 counters traded unchanged. Volume was 390.68 million shares valued at RM596.79 million.

The ringgit strengthened 0.14% to 3.1590 versus the US dollar; crude oil was up 17 cents per barrel to US$84.28 and gold added US$3.03 an ounce to US$1,389.05.

At the regional markets, Hong Kong's Hang Seng Index and the Shanghai Composite Index fell 0.28% each to 22,943.37 and 2,812.31 respectively; Japan's Nikkei 225 was down 0.02% to 9,935.00 and Singapore's Straits Times Index shed 0.06% to 3,142.97.

Meanwhile, Taiwan's Taiex gained 1.4% to 8,489.48 and South Korea's Kospi Index rose 0.93% to 1,922.32.

At Bursa Malaysia, Nestle fell 40 sen RM43, PPB down 26 sen to RM17.62, Tased lost 18 sen to RM7.30, BAT fell 16 sen to RM44.10, Sunway City fell 14 sen to RM4.51, BHIC down 13 sen to RM4.03 and Carlsberg down 11 sen to RM5.84.

Maybank lost eight sen to RM8.43, CIMB, MISC and Gamuda fell four sen each to RM8.40, RM8.64 and RM3.65 respectively, while Sime Darby, Petronas Chemicals and Tenaga shed three sen each to RM8.65, RM5.32 and RM8.47 respectively.

Gainers included KL Kepong, Keck Seng, Negri Sembilan Oil Palms, Tahps, Tradewinds, Tradewinds PLANTATION []s, BLD Plantations and Parkson.

The actively traded stocks included Petronas Chemicals, Harvest, KNM, JCY, Karambunai, Mithril and SAAG.

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