Thursday, August 25, 2011

Blue chips see red again, RHB Cap, CIMB dn

KUALA LUMPUR: Selling pressure picked up pace in the afternoon session on Thursday, Aug 25, sending the FBM KLCI down'' more than five points, with RHB Cap and CIMB among the losers.

The selling of bank stocks was on concerns of weaker equity markets and economy, especially external headwinds from the US and Europe.

Bank stocks, being the barometer of investors' confidence, slumped on rising trading volume. RHB Cap lost 32 sen to RM8.58, CIMB 29 sen to RM7.31.

Telco player Axiata lost 22 sen to RM4.63.'' OSK Research downgraded the fair value on Axiata but keeps BUY call after the weak showing in 1HFY11.

The FBM KLCI fell 5.28 points to 1,463.87. Turnover was 615.89 million shares valued at RM1.37 billion. There were 184 gainers, 464 losers and 269 stocks unchanged.

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