Monday, June 13, 2011

Genting, banks drag FBM KLCI lower

KUALA LUMPUR: The FBM KLCI suffered its biggest single day fall since May 23 on Monday, June 13 when shares on Bursa Malaysia declined in line with the overall tepid sentiment at global markets.

Key regional markets were mostly in the red Chinese data highlighted concerns about weaker global growth momentum, prompting investors to unwind positions in higher-risk assets and buy government bonds, according to Reuters.

Earlier today, Japan's core machinery orders unexpectedly fell in April, suggesting a bumpy recovery from a devastating earthquake and tsunami as some companies delay capital spending until reCONSTRUCTION []-driven demand materialises, it said.

The FBM KLCI lost 0.66% or 10.31 points to 1,545.88 at 5pm, with losses at blue chip counters including Genting, Tenaga and banking stocks.

Losers thumped gainers by 549 to 206, while 271 counters traded unchanged. Volume was 733.03 million shares valued at RM1.13 billion.

At the regional markets, Japan's Nikkei 225 fell 0.70% to 9,448.21, Taiwan's Taiex lost 1.41%to 8,712.95, Singapore's Straits Times Index was down 0.63% to 3,059.04 and the Shanghai Composite Index shed 0.18% to 2,700.38.

Meanwhile, the Hong Kong Hang Seng Index rose 0.39% to 22,508.08 and South Korea's Kospi edged up 0.10% to 2,048.74.

On Bursa Malaysia, Genting was the top loser and fell 30 sen to RM11.02; Anway lost 22 sen to RM9.50, Malayan Flour Mills 19 sen to RM7.81, Glenealy and BAT fell 16 sen each to RM5.39 and RM46.08, Tenaga and MISC 13 sen each to RM6.68 and RM6.96, while Cypark fell 12 sen to RM2.16.

Among banks, AMMB lost 13 sen to RM6.36, Hong Leong Bank down 12 sen to RM12.90, HLFG ten sen to RM12.38, Maybank six sen to RM8.72 and RHB Capital three sen to RM9.87.

Gainers were led by United PLANTATION []s that added RM1.30 to RM20.50; HPI rose 38 sen to RM3.80, United U-Li Corp gained 30 sen to RM1.25, C.I. Holdings 29 sen to RM3, Petronas Gas 16 sen to RM11.96, F&N 14 sen to RM19.54, Sindora 13 sen to RM1.87, while Cocoaland, Aeon and EPIC rose 11 sen each to RM2.20, RM6.90 and RM2.56 respectively.

Compugates was the most actively traded counter with 95.4 million shares done. The stock added half a sen to 6.5 sen.

Other actives included XOX, Focus, United U-Li, MAA, Axiata, CIMB and KNM.

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