Friday, April 15, 2011

FBM KLCI loses 35.5 points in a week

KUALA LUMPUR: The FBM KLCI ended the week on a weaker note after having lost a whopping 35.55 points over seven six trading days, as investors remained on the sidelines ahead of the Sarawak state elections on Saturday, April 17.

The FBM KLCI closed 3.86 points lower at 1,521.94.

Losers beat gainers by 452 to 285, while 317 counters traded unchanged. Volume was 915.05 million shares valued at RM1.56 billion.

At the regional markets, Japan's Nikkei 225 fell 0.65% to 9,591.52, Taiwan's Taiex lost 0.96% to 8,718.12, Singapore's Straits Times Index shed 0.18% to 3,153.30, South Korea's Kospi was down 0.03% to 2,140.50 and Hong Kong's Hang Seng Index slipped 0.02% to 24,008.07.

Meanwhile, the Shanghai Composite Index gained 0.26% to 3,050.53 after China's gross domestic product increased by 9.7% in the first quarter from a year earlier, down from 9.8% in the final three months of 2010 but ahead of an expected 9.5% pace.

On Bursa Malaysia, DiGi was the top loser and fell 50 sen to RM29; Far East Holdings and Nestle lost 20 sen each to RM7.20 and RM47.80, Tan Chong 19 sen to RM4.51, Toyo Ink 15 sen to RM1.51, Petronas Dagangan 14 sen to RM16.06, Fima Corp and PacificMas 13 sen each to RM6.05 and RM3.70, while Cypark lost 11 sen to RM2.90.

F&N was the top gainer and rose 28 sen to RM16.28; YTL was up 26 sen to RM7.72, Widetech 24 sen to 97 sen, Aeon 23 sen to RM6.20, Hartalega 22 sen to RM5.75, Top Glove 15 sen to RM5.16 and MBSB 14 sen to RM2.58.

Meanwhile, Proton rose 18 sen to RM3.43 after its unit Lotus Cars Ltd secured ''270m million (RM1.33 billion) in loans from six financial institutions over a six-year period in a move to turnaround the loss-making England-based company.

Proton group managing director Datuk Seri Syed Zainal Abidin Syed Mohamed Tahir had on Friday, April 15 said he expected Lotus to breakeven by 2014.

Lion Corp was the most actively traded counter with 24.1 million shares done. The stock fell one sen to 30 sen.

Other actives included Axiata, Gula Perak, Perisai, KUB, CIMB, Viztel, HWGB and AirAsia.

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