KUALA LUMPUR: The FBM KLCI remained in negative territory at the mid-day break on Wednesday, Feb 16, weighed by banking and select blue chip stocks, while most key regional markets advanced albeit with limited gains in cautious trade.
The 30-stock FBM KLCI managed to pare down its losses to just 0.16% or 2.45 points to 1,502.88 at the mid-day break. The index had earlier fallen to its intra-morning low of 1,495.43.
Losers beat gainers by 460 to 270, while 250 counters traded unchanged. Volume was 1.03 billion shares valued at RM912.08 million.
The ringgit weakened 0.03% to 3.0485 versus the US dollar; crude palm oil futures for the third month delivery fell RM106 per tonne to RM3,779, crude oil gained 32 cents to US$84.64 while gold slipped five cents per troy ounce to US$1,373.75.
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Hang Seng Index +0.60% 23,036.57 Nikkei 225 +0.56% 10,807.07 Taiwan's Taiex +0.25% 8,743.35 Shanghai Composite Index +0.17% 2,904.27 South Korea's Kospi +0.15% 2,013.49 Singapore's Straits Times Index -0.01% 3,080.31 ''
BIMB Securities Research said stocks on Wall Street closed lower on Tuesday, affected by lower-than-expected retail sales in January.
It said last month's retail sales grew by a pathetic 0.3%, the smallest jump since June 2010 and only half of what the economist predicted.
The higher fuel cost and raw materials are hurting the consumers' coffers and this impacted their spending pattern, it said.
'Given that, we expect the local investors to stay sideline moreover with the upcoming release of the 4Q10 GDP this Friday. Hence, expect the benchmark index to experience a mild selling pressure today,' BIMB Securities Research said.
On Bursa Malaysia, banking stocks dragged the FBM KLCI lower, with CIMB down 12 sen to RM8.08, Maybank nine sen to RM8.45, Public Bank eight sen to RM13.02 and AMMB five sen to RM6.22.
Gamuda fell five sen to RM3.75; Maxis, KLK and Batu Kawan fell four sen each to RM5.40, RM21.84 and RM16.58, Bintulu Port 32 sen to RM6.66, IGB fell 17 sen to RM2.15, Masterskill and HPI down 11 sen each to RM1.85 and RM2.69, while BLD PLANTATION []s, Lafarge Malayan Cement, Hirotako and Dayang fell 10 sen each to RM5.20, RM7.48, RM1.79 and RM2.11 respectively.
Among the gainers, BAT was up 48 sen to RM46.72, Kulim 24 sen to RM13.94, Mamee and Malaysia Marine 20 sen each to RM3.74 and RM6.41, Scientex 15 sen to RM2.27, Panasonic and DiGi 12 sen each to RM18.42 and RM26.02.
The actives this morning included Jotech, Karambunai, SapuraCrest, Lion Corporation, Tanco and Dutaland's warrants.
The 30-stock FBM KLCI managed to pare down its losses to just 0.16% or 2.45 points to 1,502.88 at the mid-day break. The index had earlier fallen to its intra-morning low of 1,495.43.
Losers beat gainers by 460 to 270, while 250 counters traded unchanged. Volume was 1.03 billion shares valued at RM912.08 million.
The ringgit weakened 0.03% to 3.0485 versus the US dollar; crude palm oil futures for the third month delivery fell RM106 per tonne to RM3,779, crude oil gained 32 cents to US$84.64 while gold slipped five cents per troy ounce to US$1,373.75.
''
Hang Seng Index +0.60% 23,036.57 Nikkei 225 +0.56% 10,807.07 Taiwan's Taiex +0.25% 8,743.35 Shanghai Composite Index +0.17% 2,904.27 South Korea's Kospi +0.15% 2,013.49 Singapore's Straits Times Index -0.01% 3,080.31 ''
BIMB Securities Research said stocks on Wall Street closed lower on Tuesday, affected by lower-than-expected retail sales in January.
It said last month's retail sales grew by a pathetic 0.3%, the smallest jump since June 2010 and only half of what the economist predicted.
The higher fuel cost and raw materials are hurting the consumers' coffers and this impacted their spending pattern, it said.
'Given that, we expect the local investors to stay sideline moreover with the upcoming release of the 4Q10 GDP this Friday. Hence, expect the benchmark index to experience a mild selling pressure today,' BIMB Securities Research said.
On Bursa Malaysia, banking stocks dragged the FBM KLCI lower, with CIMB down 12 sen to RM8.08, Maybank nine sen to RM8.45, Public Bank eight sen to RM13.02 and AMMB five sen to RM6.22.
Gamuda fell five sen to RM3.75; Maxis, KLK and Batu Kawan fell four sen each to RM5.40, RM21.84 and RM16.58, Bintulu Port 32 sen to RM6.66, IGB fell 17 sen to RM2.15, Masterskill and HPI down 11 sen each to RM1.85 and RM2.69, while BLD PLANTATION []s, Lafarge Malayan Cement, Hirotako and Dayang fell 10 sen each to RM5.20, RM7.48, RM1.79 and RM2.11 respectively.
Among the gainers, BAT was up 48 sen to RM46.72, Kulim 24 sen to RM13.94, Mamee and Malaysia Marine 20 sen each to RM3.74 and RM6.41, Scientex 15 sen to RM2.27, Panasonic and DiGi 12 sen each to RM18.42 and RM26.02.
The actives this morning included Jotech, Karambunai, SapuraCrest, Lion Corporation, Tanco and Dutaland's warrants.
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