KUALA LUMPUR: The FBM KLCI extended its losses on for the fourth consecutive day in line with the weaker investor sentiment across global markets in the aftermath of the earthquake in Japan that sent the Nikkei 255 to its biggest drop since 1987.
Key Asian markets slumped earlier when the Nikkei 225 plunged more than 14% as panic swept Tokyo on after a rise in radioactive levels around an earthquake-hit nuclear power plant north of the city.
In Japan, many mutual funds were left on the sidelines, leaving them poised to dump shares into any rebound, according to Reuters. ''''''''''''
The yen tripped on talk of intervention by authorities trying to contain the economic impact from last week's devastating earthquake and tsunami, but then recovered, it said.
Government bond yields rose as investors sold debt to offset stock market losses, it said.
The scale and speed of the equity selloff forced domestic fund managers to sit on the sidelines as market volumes surged to a record for a second day running, said Reuters.
The FBM KLCI fell 11.21 points to 1,484.14, weighed by losses at key blue chips including MISC, Petronas Chemicals, Maybank, CIMB and Genting.
It had earlier fallen as much as 19.11 points to its intra-day low of 1,476.24.
Losers thumped gainers by 812 to 126, while 160 counters traded unchanged. Volume was 1.45 billion shares valued at RM2.12 billion.
At the regional markets, Japan's Nikkei 225 fell 10.55% to 8,605.15, Hong Kong's Hang Seng Index lost 2.86% to 22,678.25, Taiwan's Taiex slumped 3.35% to 8,324.78, Singapore's Straits Times Index lost 2.80% to 2,946.08, South Korea's Kospi fell 2.40% to 1,923.92 while the Shanghai Composite Index fell 1.41% to 2,896.26.
Among the major losers on Bursa Malaysia today, MISC fell 24 sen to RM7.42, Petronas Chemicals down 16 sen to RM6.59, Maybank and Sime Darby five sen each to RM8.66 and RM9, Axiata and CIMB lost four sen each to RM4.73 and RM7.88, Genting seven sen to RM9.95 while Telekom fell six sen to RM3.82.
Glove makers were among the top gainers on expectation of a rise in demand, with Top Glove adding 28 sen to RM5.33, Supermax and Kossan up 21 sen each to RM4.39 and RM3.23, Latexx 10 sen to RM2.80 and Adventa seven sen to RM2.52.
Other gainers included Ewein, Southern Steel and Panasonic.
ManagePay Systems was the most actively traded counter with 136.2 million shares done. The stock, which made its debut on the ACE Market today, closed six sen higher at 22 sen.
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Key Asian markets slumped earlier when the Nikkei 225 plunged more than 14% as panic swept Tokyo on after a rise in radioactive levels around an earthquake-hit nuclear power plant north of the city.
In Japan, many mutual funds were left on the sidelines, leaving them poised to dump shares into any rebound, according to Reuters. ''''''''''''
The yen tripped on talk of intervention by authorities trying to contain the economic impact from last week's devastating earthquake and tsunami, but then recovered, it said.
Government bond yields rose as investors sold debt to offset stock market losses, it said.
The scale and speed of the equity selloff forced domestic fund managers to sit on the sidelines as market volumes surged to a record for a second day running, said Reuters.
The FBM KLCI fell 11.21 points to 1,484.14, weighed by losses at key blue chips including MISC, Petronas Chemicals, Maybank, CIMB and Genting.
It had earlier fallen as much as 19.11 points to its intra-day low of 1,476.24.
Losers thumped gainers by 812 to 126, while 160 counters traded unchanged. Volume was 1.45 billion shares valued at RM2.12 billion.
At the regional markets, Japan's Nikkei 225 fell 10.55% to 8,605.15, Hong Kong's Hang Seng Index lost 2.86% to 22,678.25, Taiwan's Taiex slumped 3.35% to 8,324.78, Singapore's Straits Times Index lost 2.80% to 2,946.08, South Korea's Kospi fell 2.40% to 1,923.92 while the Shanghai Composite Index fell 1.41% to 2,896.26.
Among the major losers on Bursa Malaysia today, MISC fell 24 sen to RM7.42, Petronas Chemicals down 16 sen to RM6.59, Maybank and Sime Darby five sen each to RM8.66 and RM9, Axiata and CIMB lost four sen each to RM4.73 and RM7.88, Genting seven sen to RM9.95 while Telekom fell six sen to RM3.82.
Glove makers were among the top gainers on expectation of a rise in demand, with Top Glove adding 28 sen to RM5.33, Supermax and Kossan up 21 sen each to RM4.39 and RM3.23, Latexx 10 sen to RM2.80 and Adventa seven sen to RM2.52.
Other gainers included Ewein, Southern Steel and Panasonic.
ManagePay Systems was the most actively traded counter with 136.2 million shares done. The stock, which made its debut on the ACE Market today, closed six sen higher at 22 sen.
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