KUALA LUMPUR: Asian markets were mired in the red in early trade on Tuesday, March 15 as Japan's Nikkei 225 tumbled almost 6.5% as fears of nuclear meltdown rocked a nation already devastated by last Friday's earthquake and tsunami.
Investor sentiment at the regional markets was also jittery with the rising tensions in the Middle East, as Saudi forces advanced into Bahrain yesterday.
The FBM KLCI extended its losses and fell 1.54 points to 1,493.81 at 10am.
Losers led gainers by 232 to 109, while 163 counters traded unchanged. Volume was 181.73 million shares valued at RM122.36 million.
At the regional markets, the Nikkei 225 fell 6.45% to 8,999.73, Hong Kong's Hang Seng Index lost 1.37% to 23,026.32, Singapore's Straits Times Index fell 1.15 to 2,997.58, Taiwan's Taiex lost 0.90% to 8,443.50, Australia's S&P/ASX 200 Index fell 0.82% to 4,588.40, the Shanghai Composite Index was down 0.55% to 2,921.60 while South Korea's Kospi shed 0.26% to 1,966.01.
BIMB Securities Research in a note March 15 said the latest developments in the Middle East pushed crude oil futures to close above US$100 per barrel while the crude spot oil also closed above the same level.
'The rising of this precious commodity price could affect the investors' sentiment especially if the price movement is sticky and lingering above the US$100 per barrel mark.
'Given all these risk factors, expect the local and regional market to be under pressure and the selling momentum appears inevitable at this juncture,' it said.
On Bursa Malaysia, PLANTATION []-related stocks were among the major losers, with Genting Plantations down 12 sen to RM7.86, KLK 10 sen to RM20.70, Tradewinds Plantations seven sen to RM3, while Batu Kawan and SOP fell six sen each to RM15.02 and RM3.34.
LPI Capital lost 10 sen to RM13.50, while P&O, HELP, Asas and Petronas Chemicals lost five sen each to 72 sen, RM2.75, 90 sen and RM6.70 respectively.
ManagePay Systems which made its ACE Market debut today was the most actively traded counter with 67 million shares done. The stock added 12 sen to 28 sen.
Panasonic was the top gainer and added 30 sen to RM19.70; Lafarge Malayan Cement rose 23 sen to RM7.50, UAC 18 sen to RM3.50, Lysaght 17 sen to RM2, Ewein 16.5 sen to 95 sen, Supermax 15 sen to RM4.33 and Kossan rose 14 sen to RM3.16.
Investor sentiment at the regional markets was also jittery with the rising tensions in the Middle East, as Saudi forces advanced into Bahrain yesterday.
The FBM KLCI extended its losses and fell 1.54 points to 1,493.81 at 10am.
Losers led gainers by 232 to 109, while 163 counters traded unchanged. Volume was 181.73 million shares valued at RM122.36 million.
At the regional markets, the Nikkei 225 fell 6.45% to 8,999.73, Hong Kong's Hang Seng Index lost 1.37% to 23,026.32, Singapore's Straits Times Index fell 1.15 to 2,997.58, Taiwan's Taiex lost 0.90% to 8,443.50, Australia's S&P/ASX 200 Index fell 0.82% to 4,588.40, the Shanghai Composite Index was down 0.55% to 2,921.60 while South Korea's Kospi shed 0.26% to 1,966.01.
BIMB Securities Research in a note March 15 said the latest developments in the Middle East pushed crude oil futures to close above US$100 per barrel while the crude spot oil also closed above the same level.
'The rising of this precious commodity price could affect the investors' sentiment especially if the price movement is sticky and lingering above the US$100 per barrel mark.
'Given all these risk factors, expect the local and regional market to be under pressure and the selling momentum appears inevitable at this juncture,' it said.
On Bursa Malaysia, PLANTATION []-related stocks were among the major losers, with Genting Plantations down 12 sen to RM7.86, KLK 10 sen to RM20.70, Tradewinds Plantations seven sen to RM3, while Batu Kawan and SOP fell six sen each to RM15.02 and RM3.34.
LPI Capital lost 10 sen to RM13.50, while P&O, HELP, Asas and Petronas Chemicals lost five sen each to 72 sen, RM2.75, 90 sen and RM6.70 respectively.
ManagePay Systems which made its ACE Market debut today was the most actively traded counter with 67 million shares done. The stock added 12 sen to 28 sen.
Panasonic was the top gainer and added 30 sen to RM19.70; Lafarge Malayan Cement rose 23 sen to RM7.50, UAC 18 sen to RM3.50, Lysaght 17 sen to RM2, Ewein 16.5 sen to 95 sen, Supermax 15 sen to RM4.33 and Kossan rose 14 sen to RM3.16.
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