KUALA LUMPUR:'' Asian markets extended their losses on Friday, March 11 after a massive earthquake hit Japan at noon, triggering widespread tsunami warnings in the Pacific Basin and leading to the closure of all Japanese ports.
The news of the earthquake rattled already jittery Asian and European markets that have been weighed down by the escalating tensions in the Mid-east as well as renewed concerns over the global economic growth prospects on the back of less than encouraging data that came out of the US, Japan and China over the past two days.
The FBM KLCI fell 1.40% or 21.29 points to 1,495.62, weighed by losses including at banking stocks and key blue chips. Losers trounced gainers by 678 to 118, while 207 counters traded unchanged. Volume was 1.02 billion shares valued at RM1.85 billion.
Japan's Nikkei 225 fell 1.72% to 10,254.43, Hong Kong's Hang Seng Index lost 1.55% to 23,249.78, South Korea's Kospi fell 1.31% to 1,955.54, Singapore's Straits Times Index was down 1.04% to 3,043.49, Taiwan's Taiex lost 0.87% to 8,567.82 and the Shanghai Composite Index fell 0.79% to 2,933.80.
MIDF Research head Zulkifli Hamzah said the earthquake in Japan had amplified the market's conundrum.
'Although the yen is holding and crude oil price even easing off, events in Japan are causing further disequilibrium in the world's commodity markets. At this juncture, the vibes are wrong for investment in risky assets,' he said.
On Bursa Malaysia, banking stocks were among the major losers with Public Bank down 12 sen to RM13, AMMB 10 sen to RM6.36, Maybank nine sen to RM8.71, HLFG eight sen to RM8.74, RHB Capital seven sen to RM7.95 and CIMB six sen to RM7.98.
Axiata fell 12 sen to RM4.77, Genting 26 sen to RM10, KLK 22 sen to RM20.66,'' IOI Corp 10 sen to RM5.61, Petronas Chemicals 16 sen to RM6.56, MISC 20 sen to RM7.50, Sime seven sen to RM9.03 and Maxis fell 11 sen to RM5.40.
Other decliners included BAT, Hong Leong Industries, PPB, LPI Capital, Lafarge Malayan Cement and Batu Kawan.
Gainers included Nestle, Bintulu Port, BLD PLANTATION []s, HELP, JT International and Lysaght.
Perisai was the most active with 48.4 million shares done. The stock added 2.5 sen to 67.5 sen.
Other actives included Petronas Chemicals, Borneo Oil, Tanco, Scomi and Axiata.
The news of the earthquake rattled already jittery Asian and European markets that have been weighed down by the escalating tensions in the Mid-east as well as renewed concerns over the global economic growth prospects on the back of less than encouraging data that came out of the US, Japan and China over the past two days.
The FBM KLCI fell 1.40% or 21.29 points to 1,495.62, weighed by losses including at banking stocks and key blue chips. Losers trounced gainers by 678 to 118, while 207 counters traded unchanged. Volume was 1.02 billion shares valued at RM1.85 billion.
Japan's Nikkei 225 fell 1.72% to 10,254.43, Hong Kong's Hang Seng Index lost 1.55% to 23,249.78, South Korea's Kospi fell 1.31% to 1,955.54, Singapore's Straits Times Index was down 1.04% to 3,043.49, Taiwan's Taiex lost 0.87% to 8,567.82 and the Shanghai Composite Index fell 0.79% to 2,933.80.
MIDF Research head Zulkifli Hamzah said the earthquake in Japan had amplified the market's conundrum.
'Although the yen is holding and crude oil price even easing off, events in Japan are causing further disequilibrium in the world's commodity markets. At this juncture, the vibes are wrong for investment in risky assets,' he said.
On Bursa Malaysia, banking stocks were among the major losers with Public Bank down 12 sen to RM13, AMMB 10 sen to RM6.36, Maybank nine sen to RM8.71, HLFG eight sen to RM8.74, RHB Capital seven sen to RM7.95 and CIMB six sen to RM7.98.
Axiata fell 12 sen to RM4.77, Genting 26 sen to RM10, KLK 22 sen to RM20.66,'' IOI Corp 10 sen to RM5.61, Petronas Chemicals 16 sen to RM6.56, MISC 20 sen to RM7.50, Sime seven sen to RM9.03 and Maxis fell 11 sen to RM5.40.
Other decliners included BAT, Hong Leong Industries, PPB, LPI Capital, Lafarge Malayan Cement and Batu Kawan.
Gainers included Nestle, Bintulu Port, BLD PLANTATION []s, HELP, JT International and Lysaght.
Perisai was the most active with 48.4 million shares done. The stock added 2.5 sen to 67.5 sen.
Other actives included Petronas Chemicals, Borneo Oil, Tanco, Scomi and Axiata.
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