Monday, January 17, 2011

China woes weigh key markets, KLCI steady

KUALA LUMPUR: Key regional markets slumped in the morning session on Monday, Jan 17, as investors' sentiment was dampened by the fall in China markets on concerns the government might impose more restrictions on the property market.

However, the FBM KLCI was higher at 12.30pm, with the 30-stock index up 3.47 points to 1,573.36, which was near the all-time record high in intra-day trade on positive economic and corporate newsflow.

Turnover was 946.85 million shares valued at RM975.92 million. There were 364 gainers, 362 losers and 303 stocks unchanged.

Light crude oil fell 16 cents to US$91.38 while crude palm oil added RM23 to RM3,666. The ringgit weakened to 3.0578 to the US dollar, off 0.0008 from the previous close of 3.0570.

All of China markets fell with the Shenzen Composite Index down 3.38% to 1,191.09, Shanghai Composite Index 2.10% to 2,732.76. Hong Kong's Hang Seng Index slipped 0.29% to 24,211.66; Singapore's Straits Times Index 0.13% lower at 3,241.63.

At Bursa Malaysia, Petronas Chemicals rose 15 sen to RM6.30 after a recent upgrade. Maybank added six sen to RM8.95, CIMB five sen to RM8.78 and Public Bank eight sen RM13.52.

Nestle was the top gainer, up 50 sen to RM46, Tradewinds 32 sen to RM7.96 and DiGi 22 sen to RM25.30.

Benalec rose 36 sen to RM1.36 with 75.73 million shares done on its first trading day.

The decliners were TSR Capital-WA, down 15.5 sen to 27.5 sen, Lafarge 15 sento RM7.65, GAB 12 sentp RM10.80 and Genting 10 sen to RM11.78.


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