KUALA LUMPUR: The FBM KLCI remained in the red at the mid-day break on Monday, April 11 as profit taking on blue chip stocks weighed on the market.
The sentiment at the local market ahead of the Invest Malaysia 2011 slated to start on April 12 indicated that investors were likely taking a wait and see approach as to some of the announcements that Prime Minister Datuk Seri Najib Razak is expected to make in his keynote address at the conference.
Another factor weighing on investors' mind was also the ongoing campaigning for the Sarawak state election.
At 12.30pm, the benchmark index fell 9.21 points to 1,548.28, with losses including Genting, Axiata, Tenaga and Petronas Chemicals.
Losers beat gainers by 560 to 192, while 252 counters traded unchanged. Volume was 736.15 million shares valued at RM878.83 million.
The ringgit strengthened 0.07% to 3.0195 versus the US dollar; crude palm oil added RM46 per tonne to RM3,436; crude oil slipped nine cents to US$112.70 while gold fell 43 cents to US$1,474.50.
Asian stocks outside Japan edged up, extending hefty gains of the last three weeks, with Chinese and Australian shares leading gains, helped by investments from overseas, a trend that has picked up in recent sessions, according to Reuters.
However, some of the markets gave up their earlier gains on mild profit taking, as Japan's nuclear crisis remained unabated.
Japan's Nikkei 225 fell 0.5% to 9,719.24, Taiwan's Taiex lost 0.46% to 8,853.20, Singapore's Straits Times Index was down 0.40% to 3,174.57 and South Korea's Kospi edged down 0.35% to 2,120.45.
Meanwhile, the Shanghai Composite Index rose 0.77% to 3,053.24 and Hong Kong's Hang Seng Index edged up 0.01% to 24,397.44.
Among the major losers on Bursa Malaysia this morning, Genting fell 22 sen to RM11.61, Axiata eight sen to RM4.71, Tenaga nine sen to RM6.02, IOI Corp five sen to RM5.60, Petronas Chemicals 10 sen to RM7.43, Sime Darby four sen to RM9.28 and MISC 12 sen to RM7.66.
BHIC fell 18 sen to RM4.66, Subur Tiasa 17 sen to RM3.36, Cypark and DRB-Hicom fell 16 sen each to RM3.04 and RM2.30, Hong Leong Bank and Tradewinds 14 sen each to RM10.50 and RM7.78, Mudajaya 13 sen to RM4.85 while Ta Ann fell 12 sen to RM6.53.
Among the gainers, Mamee surged 60 sen to RM4.20 after its major shareholders, who collectively hold 79.1%, proposed a selective capital repayment (SCR) of RM4.39 a share to the remaining shareholders under a corporate exercise to take it private.
DiGi was up 36 sen to RM29.70, Shell 20 sen to RM11, S P Setia 18 sen to RM6.63, MSC 15'' sen to RM4.18, while United PLANTATION []s, MBSB and Landmarks gained 12 sen each to RM18, RM2.40 and RM1.69.
Masteel advanced 14 sen to RM1.54 after CIMB Research said it saw iron-clad prospects for the stock which is on an expansion programme that is set to double its earnings to RM80 million-RM90 million by FY12.
DBE Gurney was the most actively traded counter with 27.7 million shares done. The stock added half a sen to 11.5 sen.
Other actives included MAA, Melewar, DRB-Hicom, Landmarks and Axiata.
The sentiment at the local market ahead of the Invest Malaysia 2011 slated to start on April 12 indicated that investors were likely taking a wait and see approach as to some of the announcements that Prime Minister Datuk Seri Najib Razak is expected to make in his keynote address at the conference.
Another factor weighing on investors' mind was also the ongoing campaigning for the Sarawak state election.
At 12.30pm, the benchmark index fell 9.21 points to 1,548.28, with losses including Genting, Axiata, Tenaga and Petronas Chemicals.
Losers beat gainers by 560 to 192, while 252 counters traded unchanged. Volume was 736.15 million shares valued at RM878.83 million.
The ringgit strengthened 0.07% to 3.0195 versus the US dollar; crude palm oil added RM46 per tonne to RM3,436; crude oil slipped nine cents to US$112.70 while gold fell 43 cents to US$1,474.50.
Asian stocks outside Japan edged up, extending hefty gains of the last three weeks, with Chinese and Australian shares leading gains, helped by investments from overseas, a trend that has picked up in recent sessions, according to Reuters.
However, some of the markets gave up their earlier gains on mild profit taking, as Japan's nuclear crisis remained unabated.
Japan's Nikkei 225 fell 0.5% to 9,719.24, Taiwan's Taiex lost 0.46% to 8,853.20, Singapore's Straits Times Index was down 0.40% to 3,174.57 and South Korea's Kospi edged down 0.35% to 2,120.45.
Meanwhile, the Shanghai Composite Index rose 0.77% to 3,053.24 and Hong Kong's Hang Seng Index edged up 0.01% to 24,397.44.
Among the major losers on Bursa Malaysia this morning, Genting fell 22 sen to RM11.61, Axiata eight sen to RM4.71, Tenaga nine sen to RM6.02, IOI Corp five sen to RM5.60, Petronas Chemicals 10 sen to RM7.43, Sime Darby four sen to RM9.28 and MISC 12 sen to RM7.66.
BHIC fell 18 sen to RM4.66, Subur Tiasa 17 sen to RM3.36, Cypark and DRB-Hicom fell 16 sen each to RM3.04 and RM2.30, Hong Leong Bank and Tradewinds 14 sen each to RM10.50 and RM7.78, Mudajaya 13 sen to RM4.85 while Ta Ann fell 12 sen to RM6.53.
Among the gainers, Mamee surged 60 sen to RM4.20 after its major shareholders, who collectively hold 79.1%, proposed a selective capital repayment (SCR) of RM4.39 a share to the remaining shareholders under a corporate exercise to take it private.
DiGi was up 36 sen to RM29.70, Shell 20 sen to RM11, S P Setia 18 sen to RM6.63, MSC 15'' sen to RM4.18, while United PLANTATION []s, MBSB and Landmarks gained 12 sen each to RM18, RM2.40 and RM1.69.
Masteel advanced 14 sen to RM1.54 after CIMB Research said it saw iron-clad prospects for the stock which is on an expansion programme that is set to double its earnings to RM80 million-RM90 million by FY12.
DBE Gurney was the most actively traded counter with 27.7 million shares done. The stock added half a sen to 11.5 sen.
Other actives included MAA, Melewar, DRB-Hicom, Landmarks and Axiata.
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