KUALA LUMPUR: Profit taking by local and foreign funds pushed the key FBM KLCI to the lowest in six days on Monday, April 11, making it the worst performer among regional markets while a new earthquake in Japan weighed on sentiment.
Local market sentiment was also dented by the lower than expected industrial output growth. CIMB Economics said Malaysia's industrial output growth gained traction to 5.0% on-year in February (0.5% in January).
'Nevertheless, it came below our and market expectations (5.4%). In January-February, factory output grew 2.6%, indicating the slowing pace of economic activity,' it said in its report.
The KLCI closed 13.49 points or 0.87% down at 1,544. Turnover was 1.47 billion shares valued at RM1.18 billion. Declining stocks beat advancers more than four to one, with 724 losers to 179 gainers while 229 stocks were unchanged.
The Nikkei 225 fell 0.5% to 9,719.70, Hang Seng Index 0.38% to 24,303.07, Shanghai Composite Index 0.24% to 3,022.75 and Singapore's Straits Times Index 0.89% to 3,158.80.
European stocks dipped early on Monday as renewed worries that high commodity prices will bite into companies' results prompted investors to book recent gains following a brisk 3-week rally, Reuters reported.
A new earthquake of magnitude 7.1 in northeast Japan also rattled investors, while a one-meter tsunami advisory was issued for the coast.
Light crude oil was trading at US$112.50 while crude palm oil futures for third month delivery was RM3,390 and the ringgit was quoted at 3.0205 against the US dollar.
At Bursa, KL Kepong fell the most, down 40 sen to RM20.82, Genting 28 sen to RM11.10, Petronas Chemical 24 sen to RM7.29 and HLFG 19 sen to RM9.33.
Smaller capitalised stocks which were among the losers were SPB, down 28 sen to RM4.24, BHIC 23 sen to RM4.61, Mudajaya 21 sen tp RM4.77 and DRB-Hicom 19 sen to RM2.27. Among timber stocks, Ta Ann fell 25 sen to Rm6.40 and Subur Tiasa 18 sen to RM3.35.
Dividend stocks were among the gainers, with BAT up 64 sen to RM48 and DiGi 34 sen to Rm29.68 and F&N 16 sen to RM15.96.
Mamee jumped 60 sen to RM4.20 after the major shareholders proposed a selective capital repayment (SCR) of RM4.39 a share under a privatisation exercise.
MAA added two sen to RM1.36, Melewar one sen to RM1.12 and Mycron also one sen lower at 80 sen.
Local market sentiment was also dented by the lower than expected industrial output growth. CIMB Economics said Malaysia's industrial output growth gained traction to 5.0% on-year in February (0.5% in January).
'Nevertheless, it came below our and market expectations (5.4%). In January-February, factory output grew 2.6%, indicating the slowing pace of economic activity,' it said in its report.
The KLCI closed 13.49 points or 0.87% down at 1,544. Turnover was 1.47 billion shares valued at RM1.18 billion. Declining stocks beat advancers more than four to one, with 724 losers to 179 gainers while 229 stocks were unchanged.
The Nikkei 225 fell 0.5% to 9,719.70, Hang Seng Index 0.38% to 24,303.07, Shanghai Composite Index 0.24% to 3,022.75 and Singapore's Straits Times Index 0.89% to 3,158.80.
European stocks dipped early on Monday as renewed worries that high commodity prices will bite into companies' results prompted investors to book recent gains following a brisk 3-week rally, Reuters reported.
A new earthquake of magnitude 7.1 in northeast Japan also rattled investors, while a one-meter tsunami advisory was issued for the coast.
Light crude oil was trading at US$112.50 while crude palm oil futures for third month delivery was RM3,390 and the ringgit was quoted at 3.0205 against the US dollar.
At Bursa, KL Kepong fell the most, down 40 sen to RM20.82, Genting 28 sen to RM11.10, Petronas Chemical 24 sen to RM7.29 and HLFG 19 sen to RM9.33.
Smaller capitalised stocks which were among the losers were SPB, down 28 sen to RM4.24, BHIC 23 sen to RM4.61, Mudajaya 21 sen tp RM4.77 and DRB-Hicom 19 sen to RM2.27. Among timber stocks, Ta Ann fell 25 sen to Rm6.40 and Subur Tiasa 18 sen to RM3.35.
Dividend stocks were among the gainers, with BAT up 64 sen to RM48 and DiGi 34 sen to Rm29.68 and F&N 16 sen to RM15.96.
Mamee jumped 60 sen to RM4.20 after the major shareholders proposed a selective capital repayment (SCR) of RM4.39 a share under a privatisation exercise.
MAA added two sen to RM1.36, Melewar one sen to RM1.12 and Mycron also one sen lower at 80 sen.
No comments:
Post a Comment