Thursday, June 16, 2011

FBM KLCI pares down losses as regional markets tumble

KUALA LUMPUR: The FBM KLCI clawed back late in the afternoon session to limit its losses on Thursday, June 16, as gains at select blue chips cushioned the effects of the tumble at regional and European markets.

Key Asian markets fell while European stocks mostly opened lower as worries mounted that Greece's debt troubles were deepening, sparking contagion fears.

On Bursa Malaysia, the FBM KLCI shed 0.13% or 1.95 points to 1,554.24. The index had earlier fallen to its intraday low of 1,549.65.

Losers thumped gainers by 558 to 21, while 289 counters traded unchanged. Volume was 814.91 million shares valued at RM1.65 billion.

At the regional markets, Japan's Nikkei 225 fell 1.70% to 9,411.28, Hong Kong's Hang Seng Index lost 1.75% to 21,953.11, the Shanghai Composite Index fell 1.52% to 2,664.28, Taiwan's Taiex slumped 2% to 8,654.43, South Korea's Kospi lost 1.91% to 2,046.63 and Singapore's Straits Times Index was down 1.14% to 3,020.13.

On Bursa Malaysia, Muhibbah was the top loser and fell 38 sen to RM1.52, its biggest single day fall in since Jan 1998.

Malayan Flour Mills fell 30 sen to RM7.20, Dutch Lady 24 sen to RM18.14, Tahps and Petronas Gas lost 20 sen each to RM4.50 and RM12.30, Favelle Favco lost 19 sen to RM1.61, Sunway City and Tradewinds 18 sen each to RM5.13 and RM10.50, Fima Corp 17 sen to RM6.15 and Esso 15 sen to RM5.25.

Among the gainers, CIMB rose four sen to RM8.47, AMMB three sen to RM6.40, Axiata and Hong Leong Bank two sen each to RM4.95 and RM13, Batu Kawan 54 sen to RM17.30, F&N 26 sen to RM19.70, HPI 25 sen to RM4.18, Milux and Mintye 17 sen each to RM1.27 and RM1.47, while Shell, Vitrox and Lafarge Malayan Cement gained 10 sen each to RM10.70, RM2.18 and RM7.58 respectively.

The actives included Muhibbah, Compugates, Axiata, Focus, SAAG, Careplus, Tricubes, Petronas Chemicals and Tenaga.

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