KUALA LUMPUR: Key Asian markets reversed their gains to close lower on Wednesday, Aug 24 while European markets trended lower in profit taking, as investors remained jittery following Moody's downgrading Japan's credit rating by one notch and ahead of US Federal Reserve chairman Ben Bernanke's speech at Jackson Hole on Friday.
The FBM KLCI lost 0.89% or 13.22 points to close at 1,469.15 as blue chips, including CIMB, Axiata, MISC and KLK succumbed to losses.
Losers thumped gainers by 528 to 209, while 294 counters traded unchanged. Volume was 892.35 million shares valued at RM1.86 billion.
US stocks had shot up 3% on Tuesday on speculation Bernanke would signal new help, even though many investors are sceptical that he will deliver, given the Fed's recent pledge to keep rates near zero and the political difficulties of taking action as a presidential election year approaches, according to Reuters.
At the regional markets, Hong Kong's Hang Seng Index fell 2.06% to 19,466.79, South Korea's Kospi lost 1.23% to 1,754.78, Japan's Nikkei 225 was down 1.07% to 8,639.61, Taiwan's Taiex lost 0.63% to 7,502.92, the Shanghai Composite Index shed 0.51% to 2,541.09 while Singapore's Straits Times Index fell 1.64% to 2,719.90.
On Bursa Malaysia, CIMB fell 19 sen to RM7.60, Axiata 13 sen to RM4.85, BAT down RM1.44 to RM43.50, F&N 38 sen to RM16.82, MISC 36 sen to RM6.92, PPB 32 sen to RM16.88, NSOP 26 sen to RM5.10, Esso 22 sen to RM3.74, Malayan Flour Mills 21 sen to RM7.27, KLK 20 sen to RM21.32, YTL Cement and Lafarge Malayan Cement down 19 sen each to RM4.80 and RM7.01, AirAsia 17 sen to RM3.45 while Axiata fell 13 sen to RM4.85.
MUI was the most actively traded counter with 44.7 million shares done. The stock was unchanged at 21 sen.
Other actives included Axiata, AirAsia, CIMB, Telekom, DVM, Petronas Chemicals and Tanco.
Gainers included Sunway warrants, Uzma, Apollo, Quality Concrete, Pintaras, Nestle and Dutch Lady.
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The FBM KLCI lost 0.89% or 13.22 points to close at 1,469.15 as blue chips, including CIMB, Axiata, MISC and KLK succumbed to losses.
Losers thumped gainers by 528 to 209, while 294 counters traded unchanged. Volume was 892.35 million shares valued at RM1.86 billion.
US stocks had shot up 3% on Tuesday on speculation Bernanke would signal new help, even though many investors are sceptical that he will deliver, given the Fed's recent pledge to keep rates near zero and the political difficulties of taking action as a presidential election year approaches, according to Reuters.
At the regional markets, Hong Kong's Hang Seng Index fell 2.06% to 19,466.79, South Korea's Kospi lost 1.23% to 1,754.78, Japan's Nikkei 225 was down 1.07% to 8,639.61, Taiwan's Taiex lost 0.63% to 7,502.92, the Shanghai Composite Index shed 0.51% to 2,541.09 while Singapore's Straits Times Index fell 1.64% to 2,719.90.
On Bursa Malaysia, CIMB fell 19 sen to RM7.60, Axiata 13 sen to RM4.85, BAT down RM1.44 to RM43.50, F&N 38 sen to RM16.82, MISC 36 sen to RM6.92, PPB 32 sen to RM16.88, NSOP 26 sen to RM5.10, Esso 22 sen to RM3.74, Malayan Flour Mills 21 sen to RM7.27, KLK 20 sen to RM21.32, YTL Cement and Lafarge Malayan Cement down 19 sen each to RM4.80 and RM7.01, AirAsia 17 sen to RM3.45 while Axiata fell 13 sen to RM4.85.
MUI was the most actively traded counter with 44.7 million shares done. The stock was unchanged at 21 sen.
Other actives included Axiata, AirAsia, CIMB, Telekom, DVM, Petronas Chemicals and Tanco.
Gainers included Sunway warrants, Uzma, Apollo, Quality Concrete, Pintaras, Nestle and Dutch Lady.
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