KUALA LUMPUR: Shares of heavyweights fell in late afternoon trade on Tuesday,'' April 12 as investors avoided riskier assets like equities, mirroring the cautious sentiment in key regional markets where the Nikkei fell more than 1.7%.
At 3.39pm, the KLCI was down 18.64 points to 1,525.35. Turnover was 789.09 million shares valued at RM998.68 million. Decliners overwhelmed advancers 689 to 129 while 222 stocks were unchanged.
OSK Research said in its technical outlook earlier that Monday's market retracement would still be considered healthy as long as the index stays at above the 1,530-level.
'This is because the recent breakout from this level wrote off the possibility of the market trending sideways between the 1,474-level and the 1,530 -level. The breakout from the 1,530-level had strengthened our bullish bias view,' it said.
Genting fell 34 sen to RM10.76, Petronas Chemicals 17 sen to RM7.12, Maybank 16 sen to RM8.75 and Petronas Gas 14 sen to RM11.24 while PPB shed 12 sen to RM16.86.
Ta Ann fell the most, down 39 sen to RM6.01 while another timber stock, Subur Tiasa shed 16 sen to RM3.19.
Japan stocks fell for a second straight day, on growing worries that the impact of the March 11 earthquake may be more severe than hoped for and as Japan put its nuclear crisis on par with Chernobyl.
The Nikkei average fell 1.7% or 164.44 points to 9,555.26. The broader Topix index dropped 1.6% to 838.51.
Seoul shares lost ground on profit-taking after recent run-ups and as foreign investors turned daily net sellers for the first time in nearly a month. The Korea Composite Stock Price Index (KOSPI) finished down 1.55% at 2,089.40.
At 3.39pm, the KLCI was down 18.64 points to 1,525.35. Turnover was 789.09 million shares valued at RM998.68 million. Decliners overwhelmed advancers 689 to 129 while 222 stocks were unchanged.
OSK Research said in its technical outlook earlier that Monday's market retracement would still be considered healthy as long as the index stays at above the 1,530-level.
'This is because the recent breakout from this level wrote off the possibility of the market trending sideways between the 1,474-level and the 1,530 -level. The breakout from the 1,530-level had strengthened our bullish bias view,' it said.
Genting fell 34 sen to RM10.76, Petronas Chemicals 17 sen to RM7.12, Maybank 16 sen to RM8.75 and Petronas Gas 14 sen to RM11.24 while PPB shed 12 sen to RM16.86.
Ta Ann fell the most, down 39 sen to RM6.01 while another timber stock, Subur Tiasa shed 16 sen to RM3.19.
Japan stocks fell for a second straight day, on growing worries that the impact of the March 11 earthquake may be more severe than hoped for and as Japan put its nuclear crisis on par with Chernobyl.
The Nikkei average fell 1.7% or 164.44 points to 9,555.26. The broader Topix index dropped 1.6% to 838.51.
Seoul shares lost ground on profit-taking after recent run-ups and as foreign investors turned daily net sellers for the first time in nearly a month. The Korea Composite Stock Price Index (KOSPI) finished down 1.55% at 2,089.40.
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