Wednesday, May 4, 2011

Market broadly lower, Genting drags

KUALA LUMPUR: Key regional markets including Bursa Malaysia fell in the morning session on Wednesday, May 4 as investors decided to stay out equities on concerns about earnings growth while commodity prices fell.

At 12.30pm, the FBM KLCI was down 0.43% or 6.55 points to 1,524.92. Turnover was 618.33 million shares valued at RM618.75 million. Losers beat gainers 604 to 105 while 237 stocks were unchanged.

Crude palm oil for third month delivery fell RM18 to RM3,253 per tonne.

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Hong Kong's Hang Seng Index -1.26% 23,335.65 South Korea's Kospi -1.06% 2,177.40 China's CSI 300 -1.13% 3,174.83 Singapore's Straits Times Index -1.16% 3,117.04 Taiwan's Taiex -0.21% 8,926.96 ''

At Bursa Malaysia, GENTING BHD [] was the top loser, down 28 sen to RM11.14 as sentiment could have been dented by Las Vegas Sands Corp's lower-than-expected quarterly profit at its Singapore casino-resort.

BAT lost 26 sen to RM47.82, Nestle 20 sen to RM48.20, PetDag 14 sen to RM15.16 and KrisAssets 11 sen to RM4.30.

HPI Resources continued to fall, down another 16 sen to RM2.80, the lowest since early March.

MBSB fell 12 sen to RM1.51 as its rights shares with warrants went ex on Wednesday.

Fitters, which faces trading suspension over the delay in submitting its audited financial results, lost 13 sen to 94 sen, though the board had said last Friday, the unaudited results were intact. The warrants fell 8.5 sen to 49 sen.

Ramunia-WA was the most active with 50.79 million shares done, down 7.5 sen to 39.5 sen while Ramunia lost 9.5 sen to 54.5 sen.

Kinsteel-WA was the top gainer, up 15 sen to 77 sen, Metech added 12 sen to 55 sen while TRC-LA rose 10 sen to RM1.82.

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