Friday, August 19, 2011

KLCI falls 1.29% as global markets routed

KUALA LUMPUR: The FBM KLCI fell 1.29% on Friday, Aug 19 in line with the losses at key regional markets that were rattled by the overnight slump at Wall Street on worries that the US economy could be sliding into recession.

The rout continued at European markets that opened sharply down today.

The FMM KLCI fell 19.32 points to 1,483.98, weighed by losses including at Genting and CIMB. Market breadth was negative with losers beating gainers by 677 to 127, while 231 counters traded unchanged. Volume was 958.90 million shares valued at RM2.19 billion.

At the regional markets, South Korea's Kospi plunged 6.22% to 1,744.88, Taiwan's Taiex fell 3.57% to 7,342.96, Hong Kong's Hang Seng Index lost 3.08% to 10,399.92, Japan's Nikkei 225 down 2.51% to 8,719.24, Singapore's Straits Times Index fell 3.23% to 2,733.63 and the Shanghai Composite Index shed 0.98% to 2,534.36.

On Bursa Malaysia, Panasonic was the top loser and fell 48 sen to RM23.32; PPB lost 30 sen to RM17.20, LPI Capital and Genting 28 sen each to RM13 and RM9.70, Top Glove 24 sen to RM4.94, UMW 23 sen to RM7.22, CIMB 22 sen to RM7.93, Boustead and Carlsberg 21 sen each to RM5.29 and RM6.81, while MISC lost 20 sen to RM7.10.

Petronas Chemicals was the most actively traded counter with 30 million shares done. The stock fell 18 sen to RM6.40.

Other actives included Axiata, AirAsia, Dialog, CIMB, DVM, MAS, Timecom, MAA and Telekom.

Among the gainers, BAT added RM1.04 to RM45.24, Dutch Lady 56 sen to RM18.80, NSOP 34 sen to RM5.35, Nestle 20 sen to RM1.36, SHL 17 sen to RM1.50, Hong Leong Bank 16 sen to RM13, BLD PLANTATION []s 12 sen to RM7.02 and Utusan 10 sen to 82.5 sen.

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