Friday, January 14, 2011

FBM KLCI remains in the red at mid-day

KUALA LUMPUR: The FBM KLCI remained in negative territory at the mid-day break on Friday, Jan 14 as key Asian markets traded mixed following the weaker overnight close at Wall Street.

Asian shares were generally softer as investors took profits on recent sharp gains and as a pullback in oil and metals prices hit stocks of resource companies, according to Reuters.

Japan's Nikkei average slipped 0.3%, a day after hitting an eight-month high, while stocks elsewhere in Asia edged down 0.1%, it said.

On Bursa Malaysia, the 30-stock FBM KLCI fell 0.16% or 2.58 points to 1,568.98 at 12.30pm, weighed by losses at select blue chips.

The broader market was weak with losers outpacing gainers by 505 to 283, while 260 counters traded unchanged. Volume was 1.19 billion shares valued at RM1.23 billion.

The ringgit weakened 0.06% to 3.0564 versus the greenback; crude palm oil for the third month delivery rose RM7 per tonne to RM3,662, crude oil fell 38 cents per barrel to US$91.02 while gold gained US$3 per troy ounce to US$1,376.77.

At the regional markets, Japan's Nikkei 225 fell 0.35% to 10,552.72, the Shanghai Composite Index down 0.94% to 2,801.12, Singapore's Straits Times Index slipped 0.69% to 3,233.44, and Taiwan's Taiex down 0.19% to 8,958.26.

Meanwhile, Hong Kong's Hang Seng Index edged up 0.20% to 24,286.30 and South Korea's Kospi was up 0.40% to 2,097.78.

On Bursa Malaysia, ''United PLANTATION []s was the top loser this morning and fell 28 sen to RM16.52; Batu Kawan lost 10 sen to RM17.12, Boustead fell six sen to RM5.85, while KLK, United Malacca and TH Plantations fell four sen each to RM22.34, RM7.10 and RM2.16 respectively.

BAT lost 28 sen to RM48.20, S P Setia 21 sen to RM6.70, Dutch Lady 16 sen to RM17.44, SapuraCrest 15 sen to RM3.46, UEM Land 14 sen to RM3.11, while Petronas Dagangan, KPJ and YTL fell 12 sen each to RM12.16, RM3.76 and RM8.30.

Other decliners included Genting, CIMB, Gamuda and MMC Corp.

Mudajaya topped the gainers and was up 17 sen to RM5.37; Wah Seong gained 14 sen to RM2.40, Nestle and Daiman added 12 sen each to RM45.30 and RM1.97, while Mah Sing, JT International, YTL Land, Tradewinds and Hap Seng rose 10 sen each to RM2.21, RM6.70, RM1.79, RM7.56 and RM6.40 respectively.

Tebrau was the most actively traded counter with 38.74 million shares done. The stock added one sen to 95.5 sen. Other actives included SAAG, IRCB, JAKS, Ho Wah Genting, Ramunia and Borneo Oil.


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