KUALA LUMPUR: Asian markets, including Bursa Malaysia, fell on Thursday, March 10 as a mix of negative news weighed on stocks, including surging crude oil prices, contraction in Japan's 4Q2010 GDP and China posting its largest traded deficit in seven years in February.
Brent crude rose 0.3% to surpass US$116 on Thursday after forces loyal to Libyan leader Muammar Gaddafi bombed oil industry infrastructure, inflicting what could be longer-term damage on the country's exporting capacity, according to Reuters.
The FBM KLCI fell 0.37% or 5.70 points to 1,517.99, dragged by losses including at banking and key blue chip stocks. Losers beat gainers by 430 to 190, while 249 counters traded unchanged. Volume was 554.98 million shares valued at RM616.17 million.
The ringgit weakened 0.18% to 3.0380 versus the US dollar; crude palm oil futures for the third month delivery fell RM88 per tonne to RM3,470, crude oil added 38 cents per barrel to US$104.76 while gold fell US$1.84 per troy ounce to US$1,429.13.
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Japan's Nikkei 225 1.35% 10,446.13 Shanghai Composite Index -1% 2,972.10 Hang Seng Index -0.63% 23,660.79 Taiwan's Taiex -1.12% 8,652.02 South Korea's Kospi -1.26% 1.976.21 Singapore's Straits Times Index 0.54% 3,076.25 ''
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On Bursa Malaysia, among the banks, Maybank fell five sen to RM8.76, Public Bank four sen to RM13.12 and CIMB three sen to RM8.12.
Of the 30-stock FBM KLCI constituents, BAT lost 80 sen to RM46.84, PPB fell 24 sen to RM16.96, MISC 21 sen to RM7.70,'' Tenaga six sen to RM6.24 and Axiata four sen to RM4.88.
Other decliners were Glenealy, down 12 sen to RM4.65, JobStreet and SapuraCrest 10 sen each to RM2.82 and RM2.57, while Toyo Ink lost nine sen to RM1.69.
MAS and AirAsia fell two sen each to RM1.83 and AirAsia RM2.49 as high oil prices would have a sever impact on their earnings.
Among the gainers, Pos Malaysia rose 30 sen on reports that Khazanah Nasional Bhd would announce the divestment of its 32% stake to a third party by April 12.
Petronas Dagangan that added 26 sen to RM14.40, Far East 20 sen to RM7.50, Top Glove and Media Prima 12 sen each to RM5.01 and RM2.37, Paramount 11 sen to RM5.30.
SAAG was the most active with 40.99 million shares done. The stock was unchanged at 10 sen. Other actives included Petronas Dagangan warrant, Borneo Oil and Perisai.
Media Chinese International rose nine sen to RM1.05 with 10 million shares done while Star was unchanged at RM3.58.
The Edge FinancialDaily reported on Thursday that MCIL, which has the most Chinese titles in the world, seems to be catching up with STAR PUBLICATIONS (M) BHD [].
The Edge FD reported that MCIL's earnings are not far from the top spot which has been dominated by Star, which is the most profitable media group for years.
Brent crude rose 0.3% to surpass US$116 on Thursday after forces loyal to Libyan leader Muammar Gaddafi bombed oil industry infrastructure, inflicting what could be longer-term damage on the country's exporting capacity, according to Reuters.
The FBM KLCI fell 0.37% or 5.70 points to 1,517.99, dragged by losses including at banking and key blue chip stocks. Losers beat gainers by 430 to 190, while 249 counters traded unchanged. Volume was 554.98 million shares valued at RM616.17 million.
The ringgit weakened 0.18% to 3.0380 versus the US dollar; crude palm oil futures for the third month delivery fell RM88 per tonne to RM3,470, crude oil added 38 cents per barrel to US$104.76 while gold fell US$1.84 per troy ounce to US$1,429.13.
''
Japan's Nikkei 225 1.35% 10,446.13 Shanghai Composite Index -1% 2,972.10 Hang Seng Index -0.63% 23,660.79 Taiwan's Taiex -1.12% 8,652.02 South Korea's Kospi -1.26% 1.976.21 Singapore's Straits Times Index 0.54% 3,076.25 ''
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On Bursa Malaysia, among the banks, Maybank fell five sen to RM8.76, Public Bank four sen to RM13.12 and CIMB three sen to RM8.12.
Of the 30-stock FBM KLCI constituents, BAT lost 80 sen to RM46.84, PPB fell 24 sen to RM16.96, MISC 21 sen to RM7.70,'' Tenaga six sen to RM6.24 and Axiata four sen to RM4.88.
Other decliners were Glenealy, down 12 sen to RM4.65, JobStreet and SapuraCrest 10 sen each to RM2.82 and RM2.57, while Toyo Ink lost nine sen to RM1.69.
MAS and AirAsia fell two sen each to RM1.83 and AirAsia RM2.49 as high oil prices would have a sever impact on their earnings.
Among the gainers, Pos Malaysia rose 30 sen on reports that Khazanah Nasional Bhd would announce the divestment of its 32% stake to a third party by April 12.
Petronas Dagangan that added 26 sen to RM14.40, Far East 20 sen to RM7.50, Top Glove and Media Prima 12 sen each to RM5.01 and RM2.37, Paramount 11 sen to RM5.30.
SAAG was the most active with 40.99 million shares done. The stock was unchanged at 10 sen. Other actives included Petronas Dagangan warrant, Borneo Oil and Perisai.
Media Chinese International rose nine sen to RM1.05 with 10 million shares done while Star was unchanged at RM3.58.
The Edge FinancialDaily reported on Thursday that MCIL, which has the most Chinese titles in the world, seems to be catching up with STAR PUBLICATIONS (M) BHD [].
The Edge FD reported that MCIL's earnings are not far from the top spot which has been dominated by Star, which is the most profitable media group for years.
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