KUALA LUMPUR: Regional markets tumbled on Tuesday, April 12 as Japan suffered two major aftershocks and raised its nuclear crisis severity to the highest level, matching that of Chernobyl in 1986, and the International Monetary Fund lowered US real gross domestic product growth for 2011
Meanwhile, the FBM KLCI fell sharply as external events overshadowed Invest Malaysia 2011 where Prime Minister Datuk Seri Najib Razak had unveiled several measures, including the listing of Felda Global Ventures Holdings Bhd's sugar business.
The 30-stock index fell 1.17% or 18.08 points, the biggest single day fall since March 11 when Japan was struck the devastating earthquake and tsunami, as key blue chips including GENTING BHD [], Petronas Chemicals Group Bhd and MALAYAN BANKING BHD [] succumbed to profit taking.
Losers thumped gainers by 682 to 166, while 243 counters traded unchanged. Volume was 1.09 billion shares valued at RM1.53 billion.
The FBM KLCI has lost a whopping 36.01 points over the last three trading days.
At the regional markets, Japan's Nikkei 225 fell 1.69% to 9,555.26, Hong Kong's Hang Seng Index down 1.34% to 23,976.37, Taiwan's Taiex fell 1.66% to 8,732.59, South Korea's Kospi Index down 1.55% to 2,089.40, Singapore's Straits Times Index lost 0.71% to 3,138.00 while the Shanghai Composite Index shed 0.05% to 3,021.37.
Analysts told The Edge Financial Daily that while external factors weighed on the local bourse, they had expected more from Invest Malaysia to give the local bourse the desired boost.
OSK Research director Chris Eng said that there were no major announcements by the Prime Minister other than the Felda Global IPO.
'While he did touch on Pos Malaysia and land sales as expected, there were no details given.
'Other than regional factors such as TEPCO's statement that the radiation leakage could eventually exceed Chernobyl's, the local factors affecting sentiment also appear to be developments on the Sarawakian political front,' he said.
Meanwhile, MIDF Research said the lackluster performance of the local bourse could be attributed to IMF's lowering of US real GDP growth to 2.8% from previously 3.0% for 2011 and the unveiling of the Japanese government that the problems at a stricken nuclear plant are worse than previously stated.
The regional negative issues may have outweighed the positive sentiments that could have rose from today's Invest Malaysia 2011 conference.
'We believe investors' sentiment is deteriorating due to uncertainty, reflected by the 1.4% drop in MSCI Asia Pacific Index to 134.63, the most since March 15.
'Concerns are brewing as to how the disruptions to Japan's supply chain will affect the global economy. Fears are also as to whether there will be more earthquakes in Japan,' it said.
On Bursa Malaysia, among the major losers, Maybank fell 17 sen to RM8,74, Genting 34 sen to RM10.76, Petronas Chemicals 24 sen to RM7.05, SIME DARBY BHD [] nine sen to RM9.17, IOI CORPORATION BHD [] and Genting Malaysia Bhd seven sen each to RM5.50 and RM3.67, while CIMB lost six sen to RM8.19.
Other losers included BRITISH AMERICAN TOBACCO (M) [] Bhd that fell 56 sen to RM47.44, Panasonic Manufacturing Malaysia Bhd 40 sen to RM23.50, TA ANN HOLDINGS BHD [] 39 sen to RM6.01, SUBUR TIASA HOLDINGS BHD [] 19 sen to RM3.16 while NESTLE (M) BHD [] and LPI CAPITAL BHD [] fell 16 sen each to RM47.80 and RM13.64.
MAA HOLDINGS BHD [] was the most actively trade counter with 30.4 million shares done. The stock added eight sen to RM1.44.
Meanwhile, gainers included KL Kepong Bhd, CONCRETE ENGINEERING PRODUCTS [] Bhd, NOTION VTEC BHD [] and Malaysia Airports Holdings Bhd.
Meanwhile, the FBM KLCI fell sharply as external events overshadowed Invest Malaysia 2011 where Prime Minister Datuk Seri Najib Razak had unveiled several measures, including the listing of Felda Global Ventures Holdings Bhd's sugar business.
The 30-stock index fell 1.17% or 18.08 points, the biggest single day fall since March 11 when Japan was struck the devastating earthquake and tsunami, as key blue chips including GENTING BHD [], Petronas Chemicals Group Bhd and MALAYAN BANKING BHD [] succumbed to profit taking.
Losers thumped gainers by 682 to 166, while 243 counters traded unchanged. Volume was 1.09 billion shares valued at RM1.53 billion.
The FBM KLCI has lost a whopping 36.01 points over the last three trading days.
At the regional markets, Japan's Nikkei 225 fell 1.69% to 9,555.26, Hong Kong's Hang Seng Index down 1.34% to 23,976.37, Taiwan's Taiex fell 1.66% to 8,732.59, South Korea's Kospi Index down 1.55% to 2,089.40, Singapore's Straits Times Index lost 0.71% to 3,138.00 while the Shanghai Composite Index shed 0.05% to 3,021.37.
Analysts told The Edge Financial Daily that while external factors weighed on the local bourse, they had expected more from Invest Malaysia to give the local bourse the desired boost.
OSK Research director Chris Eng said that there were no major announcements by the Prime Minister other than the Felda Global IPO.
'While he did touch on Pos Malaysia and land sales as expected, there were no details given.
'Other than regional factors such as TEPCO's statement that the radiation leakage could eventually exceed Chernobyl's, the local factors affecting sentiment also appear to be developments on the Sarawakian political front,' he said.
Meanwhile, MIDF Research said the lackluster performance of the local bourse could be attributed to IMF's lowering of US real GDP growth to 2.8% from previously 3.0% for 2011 and the unveiling of the Japanese government that the problems at a stricken nuclear plant are worse than previously stated.
The regional negative issues may have outweighed the positive sentiments that could have rose from today's Invest Malaysia 2011 conference.
'We believe investors' sentiment is deteriorating due to uncertainty, reflected by the 1.4% drop in MSCI Asia Pacific Index to 134.63, the most since March 15.
'Concerns are brewing as to how the disruptions to Japan's supply chain will affect the global economy. Fears are also as to whether there will be more earthquakes in Japan,' it said.
On Bursa Malaysia, among the major losers, Maybank fell 17 sen to RM8,74, Genting 34 sen to RM10.76, Petronas Chemicals 24 sen to RM7.05, SIME DARBY BHD [] nine sen to RM9.17, IOI CORPORATION BHD [] and Genting Malaysia Bhd seven sen each to RM5.50 and RM3.67, while CIMB lost six sen to RM8.19.
Other losers included BRITISH AMERICAN TOBACCO (M) [] Bhd that fell 56 sen to RM47.44, Panasonic Manufacturing Malaysia Bhd 40 sen to RM23.50, TA ANN HOLDINGS BHD [] 39 sen to RM6.01, SUBUR TIASA HOLDINGS BHD [] 19 sen to RM3.16 while NESTLE (M) BHD [] and LPI CAPITAL BHD [] fell 16 sen each to RM47.80 and RM13.64.
MAA HOLDINGS BHD [] was the most actively trade counter with 30.4 million shares done. The stock added eight sen to RM1.44.
Meanwhile, gainers included KL Kepong Bhd, CONCRETE ENGINEERING PRODUCTS [] Bhd, NOTION VTEC BHD [] and Malaysia Airports Holdings Bhd.
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