KUALA LUMPUR:'' Selling woes persisted throughout Monday, Jan 24, with selected PLANTATION [] stocks among the main losers as foreign funds took profit but the broader market showed some resilience as the number of declining stocks narrowed.
At 5pm, the FBM KLCI was down 4.46 points or 0.29% to 1,542.97, but off the earlier low of 1,539.48. Turnover was 1.83 billion shares valued at RM2.21 billion. There were 548 losers versus 258 gainers and 282 stocks unchanged.
Among Southeast Asian markets, Thailand's SET Index fell the most, down 4.26% to 963.68, Philippines SE Index lost 1.22% to 3,902.71, Jakarta Composite Index 0.99% to 3,346.06 but Singapore's Straits Times Index edged up 0.04% to 3,185.76.
Japan's Nikkei 225 rose 0.69% to 10,345.11 but Hong Kong's Hang Seng Index fell 0.31% to 23,801.78 and Shanghai's Composite Index 0.71% lower at 2,695.72 and the Shenzen Composite Index skidded 2.39% to 1,150.04.
In Europe, profit-taking took the euro off two-month highs and caused euro zone stocks to pare back recent gains amid signs of an improving if uneven recovery by the region's economy. Debt-ridden Ireland's politics were in focus and emerging market stocks were weak, hurt by inflation worries, according to Reuters
At Bursa Malaysia, KL Kepong fell the most, doen 46 sen to RM21.88, Kulim 32 sen to RM12.96 and Glenealy 20 sen to RM5 and IOI Corp four sen to RM5.85.
Other decliners were GAB, which fell 38 sen to RM10, MMHE 28 sen to RM5.80 and Mudajaya 22 sen to RM4.94.'' Heavyweight Petronas Chemicals shed 15 sen to RM6.05, dragging the KLCI down by 1.14 points.
Other index linked stocks which fell were Public Bank eight sen to RM13.34, Genting Malaysia nine sen to RM3.31, Axiata three sen to RM4.82 and Tenaga two sen to RM6.49.
However, bank stocks, which bore the brunt of the selling last week, managed to eke out some gains, CIMB and AMMB added 10 sen each to Rm8.44 and RM6.86 and RHB Capital one sen to Rm8.51.
MSC was the limelight,'' up 24 sen to RM4.84 as the undervalued resources company bucked the cautious market sentiment. MSC was voluntarily suspended last Friday for an announcement to provide details about the proposed secondary listing on the Singapore Exchange.
In The Edge FinancialDaily, it reports that MSC is a cheaper entry into mining and smelting sector when it lists on the SGX in less than two weeks.
At 5pm, the FBM KLCI was down 4.46 points or 0.29% to 1,542.97, but off the earlier low of 1,539.48. Turnover was 1.83 billion shares valued at RM2.21 billion. There were 548 losers versus 258 gainers and 282 stocks unchanged.
Among Southeast Asian markets, Thailand's SET Index fell the most, down 4.26% to 963.68, Philippines SE Index lost 1.22% to 3,902.71, Jakarta Composite Index 0.99% to 3,346.06 but Singapore's Straits Times Index edged up 0.04% to 3,185.76.
Japan's Nikkei 225 rose 0.69% to 10,345.11 but Hong Kong's Hang Seng Index fell 0.31% to 23,801.78 and Shanghai's Composite Index 0.71% lower at 2,695.72 and the Shenzen Composite Index skidded 2.39% to 1,150.04.
In Europe, profit-taking took the euro off two-month highs and caused euro zone stocks to pare back recent gains amid signs of an improving if uneven recovery by the region's economy. Debt-ridden Ireland's politics were in focus and emerging market stocks were weak, hurt by inflation worries, according to Reuters
At Bursa Malaysia, KL Kepong fell the most, doen 46 sen to RM21.88, Kulim 32 sen to RM12.96 and Glenealy 20 sen to RM5 and IOI Corp four sen to RM5.85.
Other decliners were GAB, which fell 38 sen to RM10, MMHE 28 sen to RM5.80 and Mudajaya 22 sen to RM4.94.'' Heavyweight Petronas Chemicals shed 15 sen to RM6.05, dragging the KLCI down by 1.14 points.
Other index linked stocks which fell were Public Bank eight sen to RM13.34, Genting Malaysia nine sen to RM3.31, Axiata three sen to RM4.82 and Tenaga two sen to RM6.49.
However, bank stocks, which bore the brunt of the selling last week, managed to eke out some gains, CIMB and AMMB added 10 sen each to Rm8.44 and RM6.86 and RHB Capital one sen to Rm8.51.
MSC was the limelight,'' up 24 sen to RM4.84 as the undervalued resources company bucked the cautious market sentiment. MSC was voluntarily suspended last Friday for an announcement to provide details about the proposed secondary listing on the Singapore Exchange.
In The Edge FinancialDaily, it reports that MSC is a cheaper entry into mining and smelting sector when it lists on the SGX in less than two weeks.
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