KUALA LUMPUR: The FBM KLCI fell 39.17 points week-on-week on Friday, Aug 26 as banks and blue chips fell on heavy selling ahead of the holiday-shortened week ahead.
Analysts said the selling was from foreign funds on concerns about the economy slowing, worsened further by the US and European economies.
As for the recent corporate results, they said the earnings were not that impressive also.
European shares and the dollar fell on Friday, with markets playing down chances of a major shift towards further economic stimulus from US Federal Reserve chairman Ben Bernanke later in the day, according to Reuters.
Bernanke was to speak later in the day at a Fed conference in Jackon Hole, Wyoming.
Also, the Spanish economy grew at a slower pace in the second quarter than the first, fuelling concerns Spain could slip back into recession if the euro zone economy continues to worsen, it said.
On Bursa Malaysia, the FBM KLCI fell 19.93 points to 1,444.81, weighed by losses at banks and blue chips.
Losers thumped gainers by 640 to 168, while 228 counters traded unchanged. Volume was 966.74 million shares valued at RM2.27 billion.
At the regional markets, Hong Kong's Hang Seng Index fell 0.86% to 19,582.88, the Shanghai Composite Index shed 0.12% to 2,612.19 and Singapore's Straits Times Index xxx
Elsewhere, Japan's Nikkei 225 gained 0.29% to 8,797.78, South Korea's Kospi added 0.81% to 1,778.95 and Taiwan's Taiex rose 0.46% to 7,445.10.
Among the banking stocks on Bursa Malaysia, HLFG fell 46 sen to RM11.68, Hong Leong Bank lost 42 sen to RM12.36, CIMB 21 sen to RM7.04 and Maybank down six sen to RM8.67.
BAT fell 56 sen to RM43.92, Tasek 44 sen to RM7.26, Lafarge Malayan Cement and Genting 32 sen to RM6.68 and RM9.46, Bumi Armada and Petronas Chemicals 27 sen each to RM3.53 and RM6.03 and Tradewinds 26 sen to RM8.89.
CIMB was the most actively traded counter with 56 million shares done.
Other actives included Axiata, Petronas Chemicals, MUI, Bumi Armada, MRCB, AirAsia and Maybank
Gainers included Yong Tai, Rapid, Advanced Packaging, Panasonic, Nilai, Sungei Bagan and Axiata.
''
Analysts said the selling was from foreign funds on concerns about the economy slowing, worsened further by the US and European economies.
As for the recent corporate results, they said the earnings were not that impressive also.
European shares and the dollar fell on Friday, with markets playing down chances of a major shift towards further economic stimulus from US Federal Reserve chairman Ben Bernanke later in the day, according to Reuters.
Bernanke was to speak later in the day at a Fed conference in Jackon Hole, Wyoming.
Also, the Spanish economy grew at a slower pace in the second quarter than the first, fuelling concerns Spain could slip back into recession if the euro zone economy continues to worsen, it said.
On Bursa Malaysia, the FBM KLCI fell 19.93 points to 1,444.81, weighed by losses at banks and blue chips.
Losers thumped gainers by 640 to 168, while 228 counters traded unchanged. Volume was 966.74 million shares valued at RM2.27 billion.
At the regional markets, Hong Kong's Hang Seng Index fell 0.86% to 19,582.88, the Shanghai Composite Index shed 0.12% to 2,612.19 and Singapore's Straits Times Index xxx
Elsewhere, Japan's Nikkei 225 gained 0.29% to 8,797.78, South Korea's Kospi added 0.81% to 1,778.95 and Taiwan's Taiex rose 0.46% to 7,445.10.
Among the banking stocks on Bursa Malaysia, HLFG fell 46 sen to RM11.68, Hong Leong Bank lost 42 sen to RM12.36, CIMB 21 sen to RM7.04 and Maybank down six sen to RM8.67.
BAT fell 56 sen to RM43.92, Tasek 44 sen to RM7.26, Lafarge Malayan Cement and Genting 32 sen to RM6.68 and RM9.46, Bumi Armada and Petronas Chemicals 27 sen each to RM3.53 and RM6.03 and Tradewinds 26 sen to RM8.89.
CIMB was the most actively traded counter with 56 million shares done.
Other actives included Axiata, Petronas Chemicals, MUI, Bumi Armada, MRCB, AirAsia and Maybank
Gainers included Yong Tai, Rapid, Advanced Packaging, Panasonic, Nilai, Sungei Bagan and Axiata.
''
No comments:
Post a Comment