Monday, June 6, 2011

FBM KLCI falls as Asian, Europe markets slump

KUALA LUMPUR: ''The FBM KLCI closed lower on Monday, June 6 in line with the dip at key regional markets as well the weaker opening at European indices, on concerns that the economic recovery in the US was running out of steam.

The FBM KLCI fell 7.71 points to 1,552.14, weighed by losses including at Genting, Tenaga, KLK and BAT.

Losers beat gainers by 454 to 261, while 316 counters traded unchanged. Volume was 635.33 million shares valued at RM972.53 million.

At the regional markets, Japan's Nikkei 225 fell 1.18% to 9,380.35, Singapore's Straits Times Index lost 1% to 3,113.73 while Australia's S&P/ASX 200 Index shed 0.31% to 4,569.10.

The stock markets in Hong Kong, China, Taiwan and South Korea were closed today for public holidays, and would resume trade tomorrow.

European markets mostly opened in the red, tracking the weak employment data released in the US last week.

Wall Street closed out a fifth week of losses with more selling last Friday after an anaemic jobs report strengthened the case that the economy was slowing.

On Bursa Malaysia, the top loser today was BAT that fell 90 sen to RM47.02; Pharmaniaga lost 30 sen to RM5.60, Genting 22 sen to RM10.98, KLK 16 sen to RM21.92, Guan Chong and Lafarge Malayan Cement 15 sen each to RM2.70 and RM7.35, Malaysia Smelting Corp 12 sen to RM5.10 and Tenaga fell four sen to RM6.95.

Tejari was the most actively traded counter with 31.1 million shares done. The stock was unchanged at 7 sen.

Other actives included KNM, Scomi, HWGB, Karambunai, Asia Media, Maybank and Tenaga.

Among the gainers, BLD PLANTATION []s added 87 sen to RM7.25, Tradewinds 79 sen to RM10.28, Hap Seng 38 sen to RM5.56, Delloyd 23 sen to RM3.83, Mitrajaya 16 sen to RM2.16, Glenealy 15 sen to RM5.43, while Bernas and Ekovest added 13 sen each to RM2.95 and RM2.68.

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