KUALA LUMPUR: External factors overshadowed the local stock market as the announcement by the government that it expects RM11.16 billion in investments did little to lift the FBM KLCI that fell in line with in key regional markets after rating agency Standard & Poor's lowered its US credit outlook to negative, prompting a global flight to other assets.
The FBM KLCI recovered slightly to pare down its losses and close 6.39 points lower at 1,521.53.
The index had earlier in the morning fallen to its intra-day low of 1,514.94.
Losers beat gainers by 455 to 295, while 294 counters traded unchanged. Volume was 1.04 billion shares valued at RM1.39 billion.
Datuk Seri Najib Tun Razak had on Tuesday, April 19 unveiled the seven all-new projects and initiatives and five projects under the Entry Point Projects (EPPs).
The Prime Minister expects 12 projects, including seven all-new projects to will bring about RM11.16 billion in investments, RM16.62 billion in gross national income (GNI) and 74,457 incremental jobs.
At the regional markets, Japan's Nikkei 225 fell 1.21% to 9,441.03, Hong Kong's Hang Seng Index lost 1.30% to 23,520.62, the Shanghai Composite Index fell 1.91% to 2,999.04, Taiwan's Taiex was down 0.87% to 8,638.55, South Korea's Kospi fell 0.70% to 2,122.68 while Singapore's Straits Times Index closed 0.60% lower at 3,125.37.
On Bursa Malaysia, DiGi fell 22 sen to RM28.78, Warisan, Rapid and Far East fell 15 sen each to RM2.33, RM1.62 and RM7.05 respectively, AMMB down 14 sen to RM6.28, Puncak 13 sen to RM2.02, while UMS, Subur Tiasa and Petronas Gas fell 12 sen each to RM1.55, RM3.08 and RM11.24 respectively.
Karambunai was the most actively traded counter after the government more details of the multi-billion ringgit Karambunai resort.
The stock added 4.5 sen to 25.5 sen with 160.2 million shares done.
A consortium consisting of Prism Crystal Enterprises Ltd and Tan Sri Dr Chen Lip Keong & group of companies together with the landowners Karambunai Corp and Petaling Tin would invest RM9.6 billion by 2020 to develop the Karambunai Integrated Resort City (KIRC) as a premier world-class ecotourism destination.
Other actives included Smartag, Perisai, Axiata, Olympia, Land & General, HWGB, Key West, MAA and Focus.
Gainers today included Nestle, Shell, Esso, SEG International, SBC Corp and Kluang.
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The FBM KLCI recovered slightly to pare down its losses and close 6.39 points lower at 1,521.53.
The index had earlier in the morning fallen to its intra-day low of 1,514.94.
Losers beat gainers by 455 to 295, while 294 counters traded unchanged. Volume was 1.04 billion shares valued at RM1.39 billion.
Datuk Seri Najib Tun Razak had on Tuesday, April 19 unveiled the seven all-new projects and initiatives and five projects under the Entry Point Projects (EPPs).
The Prime Minister expects 12 projects, including seven all-new projects to will bring about RM11.16 billion in investments, RM16.62 billion in gross national income (GNI) and 74,457 incremental jobs.
At the regional markets, Japan's Nikkei 225 fell 1.21% to 9,441.03, Hong Kong's Hang Seng Index lost 1.30% to 23,520.62, the Shanghai Composite Index fell 1.91% to 2,999.04, Taiwan's Taiex was down 0.87% to 8,638.55, South Korea's Kospi fell 0.70% to 2,122.68 while Singapore's Straits Times Index closed 0.60% lower at 3,125.37.
On Bursa Malaysia, DiGi fell 22 sen to RM28.78, Warisan, Rapid and Far East fell 15 sen each to RM2.33, RM1.62 and RM7.05 respectively, AMMB down 14 sen to RM6.28, Puncak 13 sen to RM2.02, while UMS, Subur Tiasa and Petronas Gas fell 12 sen each to RM1.55, RM3.08 and RM11.24 respectively.
Karambunai was the most actively traded counter after the government more details of the multi-billion ringgit Karambunai resort.
The stock added 4.5 sen to 25.5 sen with 160.2 million shares done.
A consortium consisting of Prism Crystal Enterprises Ltd and Tan Sri Dr Chen Lip Keong & group of companies together with the landowners Karambunai Corp and Petaling Tin would invest RM9.6 billion by 2020 to develop the Karambunai Integrated Resort City (KIRC) as a premier world-class ecotourism destination.
Other actives included Smartag, Perisai, Axiata, Olympia, Land & General, HWGB, Key West, MAA and Focus.
Gainers today included Nestle, Shell, Esso, SEG International, SBC Corp and Kluang.
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