KUALA LUMPUR: Asian markets were mixed in early trade on Tuesday, June 14 as concerns of slower global economic growth limited gains, including at Bursa Malaysia.
Investor sentiment was also dampened after Greece became the lowest-rated country in the world according to Standard & Poor's, which downgraded it on Monday and warned that any attempt to restructure the country's debt would be considered a default.
The FBM KLCI slipped 0.22 point to 1,545.66 at mid-morning,
Losers led gainers by 170 to 150, while 218 counters traded unchanged. Volume was 144.64 million shares valued at RM152.65 million.
Regional markets were mixed, with Japan's Nikkei 225 up 0.16% to 9,463.18, the Shanghai Composite Index up 0.06% to 2,701.97, Taiwan's Taiex gained 0.63% to 8,768.20 and South Korea's Kospi added 0.20% to 2,052.90.
Meanwhile, Hong Kong's Hang Seng Index fell 0.67% to 22,356.55 and Singapore's Straits Times Index lost 0.52% to 3,043.07.
BIMB Securities Research said it appeared that the US was now a crossroad on its economic recovery, adding that inflationary and unemployment concerns would continue to hog the limelight on whether there would be another QE implementation.
The research house said the downgrade of Greece's credit rating by S&P yesterday was expected to add on to prevailing uncertainties.
Meanwhile, many global investors are becoming less enthusiastic on Chinese equities following some accounting irregularities, it said in a note June 14.
'Aggregating all these, we reckon there to be short term volatility in the regional equities that may trickle down to ours. As a result, we may see some intermittent selling on domestic stocks.
'With the immediate 1,550 support broken yesterday, the next immediate support of 1,545 would seem weak before the next level at 1,520,' it said.
On Bursa Malaysia, United PLANTATION []s was the top loser at mid-morning and fell RM1 to RM19.50; Hong Leong Industries and Tasek lost 20 sen each to RM3.79 and RM7.80, Malayan Flour Mills 16 sen to RM7.65, Parkson 15 sen to RM5.80, HLFG 14 sen to RM12.4, Tradewinds 12 sen to RM10.42. Petronas Dagangan and BLD Plantations 10 sen each to RM15.80 and RM6.80, while PPB fell eight sen to RM17.40.
Focus was the most actively traded counter with 15.2 million shares done. The stock was unchanged at 6 sen.
Other actives included United U-Li Corp, Compugates, Asia Media, KNM, Smartag and Axiata.
Gainers included Amway, C.I. Holdings, Aeon, Nestle, EPIC, DiGi, MMSV and Apollo.
Investor sentiment was also dampened after Greece became the lowest-rated country in the world according to Standard & Poor's, which downgraded it on Monday and warned that any attempt to restructure the country's debt would be considered a default.
The FBM KLCI slipped 0.22 point to 1,545.66 at mid-morning,
Losers led gainers by 170 to 150, while 218 counters traded unchanged. Volume was 144.64 million shares valued at RM152.65 million.
Regional markets were mixed, with Japan's Nikkei 225 up 0.16% to 9,463.18, the Shanghai Composite Index up 0.06% to 2,701.97, Taiwan's Taiex gained 0.63% to 8,768.20 and South Korea's Kospi added 0.20% to 2,052.90.
Meanwhile, Hong Kong's Hang Seng Index fell 0.67% to 22,356.55 and Singapore's Straits Times Index lost 0.52% to 3,043.07.
BIMB Securities Research said it appeared that the US was now a crossroad on its economic recovery, adding that inflationary and unemployment concerns would continue to hog the limelight on whether there would be another QE implementation.
The research house said the downgrade of Greece's credit rating by S&P yesterday was expected to add on to prevailing uncertainties.
Meanwhile, many global investors are becoming less enthusiastic on Chinese equities following some accounting irregularities, it said in a note June 14.
'Aggregating all these, we reckon there to be short term volatility in the regional equities that may trickle down to ours. As a result, we may see some intermittent selling on domestic stocks.
'With the immediate 1,550 support broken yesterday, the next immediate support of 1,545 would seem weak before the next level at 1,520,' it said.
On Bursa Malaysia, United PLANTATION []s was the top loser at mid-morning and fell RM1 to RM19.50; Hong Leong Industries and Tasek lost 20 sen each to RM3.79 and RM7.80, Malayan Flour Mills 16 sen to RM7.65, Parkson 15 sen to RM5.80, HLFG 14 sen to RM12.4, Tradewinds 12 sen to RM10.42. Petronas Dagangan and BLD Plantations 10 sen each to RM15.80 and RM6.80, while PPB fell eight sen to RM17.40.
Focus was the most actively traded counter with 15.2 million shares done. The stock was unchanged at 6 sen.
Other actives included United U-Li Corp, Compugates, Asia Media, KNM, Smartag and Axiata.
Gainers included Amway, C.I. Holdings, Aeon, Nestle, EPIC, DiGi, MMSV and Apollo.
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