Monday, August 8, 2011

FBM KLCI closes below 1,500-level

KUALA LUMPUR: The FBM KLCI clawed back to pare down its losses on Monday, Aug 8 but it was not enough to lift the index above the psychologically crucial 1,500-level.

The 30-stock index closed 1.8% or 27.44 points lower at 1,496.99, pulling back after having fallen more than 48 points to its intra-day low of 1,476.24.

Week-on-week, the index has lost 61.02 points, wiping out its year-to-date gains.

Losers thumped gainers by 1,051 to 67, while 99 counters traded unchanged. Volume was 1.94 billion shares valued at RM3.61 billion.

At the regional markets, Taiwan's Taiex and South Korea's Kospi fell 3.82% each to 7,552.80 and 1,869.45, the Shanghai Composite Index down 3.79% to 2,526.82, Singapore's Straits Times Index down 3.70% to 2,884.00, Japan's Nikkei 225 dipped 2.18% to 9,097.56, while Hong Kong's Hang Seng Index fell 2.17% to 20,490.57.

Meanwhile, European markets were mixed in early trade, some buoyed by reports that the European Central Bank was buying Spain and Italy's bonds, reducing their borrowing costs.

On Bursa Malaysia, PLANTATION [] counters were among the major losers with United Plantation down 62 sen to RM19, Genting Plantations down 61 sen to RM7.16 and Batu Kawan down 60 sen to RM15.60.

Other losers were Dutch Lady that lost 60 sen to RM18.10, MMHE 57 sen to RM6.94, Petronas Dagangan and DiGi 50 sen each to RM16.70 and RM29.40, Lafarge Malayan Cement 42 sen to RM6.56, while Tasek and Parkson fell 40 sen each to RM8.10 and RM5.37.

Axiata was most actively traded counter with 58.4 million shares done. The stock lost 8 sen to RM4.99. Other actives included UEM Land, CIMB, Petronas Chemicals, Bumi Armada, Dialog, DVM, MRCB and Karambunai.

Among the gainers, Nestle added 48 sen to RM47.60, Shell 16 sen to RM10.28, Sarawak Plantations 13 sen to RM2.37, and BAT eight sen to RM45.50.

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