Wednesday, August 3, 2011

Regional markets pare down losses at mid-day

KUALA LUMPUR: Key regional markets mostly remained deep in red mid-day on Wednesday, Aug 3 but managed to pare down some losses, with Japan's Nikkei clawing back to stem its losses at below 2%.

The FBM KLCI remained below the 1,550-point level, weighed by losses at blue chops including MISC, the Genting group and DiGi.

The 30-stock index lost 11.26 points to 1,543.59 at the mid-day break but off the early low of 1,538.95. Losers beat gainers by 528 to 114, while 248 counters traded unchanged. Volume was 536.70 million shares valued at RM743.25 million.

At the regional markets, Japan's Nikkei 225 was down 1.97% to 9,650.57, Hong Kong's Hang Seng Index lost 1.90% to 21,995.75, Taiwan's Taiex fell 1.56% to 8,450.79, South Korea's Kospi down 2.69% to 2,064.19 and Singapore's Straits Times Index down 1.67% to 3,124.13.

Meanwhile, the Shanghai Composite Index edged up 0.09% to 2,681.68.


Among the losers on Bursa Malaysia, BAT fell 40 sen'' to RM46.28, MISC 17 sen to RM7.38, Genting PLANTATION []s, HLFG and Genting fell 12 sen each to RM7.78, RM13.10 and RM10.80 respectively, Tradewinds 11 sen to RM9.47 and DiGi 10 sen to RM30.12.

Sanichi was the most actively traded counter with 31.6 million shares done. The stock added one sen to 8.5 sen. Market talk is that the company may get a new investor.

Other actives included TMS, Peterlabs, Catcha Media, KNM, Jotech, MBSB, AirAsia and Inari.

Among the gainers, MNRB rose 26 sen to RM3.11, Fima Corp 12 sen to RM6.18, MBSB nine sen to RM1.65 and Asia File eight sen to RM3.89.

Meanwhile, Catcha Media was in focus after Datuk Justin Leong of the Genting group emerged as a substantial shareholder in the company with a 5.01% stake. The stock jumped 21.5 sen to 78 sen with 11.5 million shares traded.

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