KUALA LUMPUR: The FBM KLCI fell on Monday, Sept 12 in line with the decline at most key regional markets on escalating worries of the European debt crisis situation and mounting concerns of the global economy.
The 30-stock index declined, weighed by losses at blue chip counters including Petronas-linked stocks, Genting and PLANTATION []-linked counters.
Asian stocks fell and the euro remained under pressure on Monday after the resignation of a top German European Central Bank board member cast further doubt on Europe's ability to tackle its worsening sovereign debt crisis, according to Reuters.
Juergen Stark's plan to resign from the ECB's board underscored the internal divisions over its bond-buying programme -- one of the central bank's main weapons in fighting the debt crisis by forcing down yields of country's under pressure from the bond markets, it said.
At 10am, the FBM KLCI fell 14.63 points to 1,454.49. Market breadth was negative with 312 losers, 57 gainers and 90 counters unchanged.
Volume was 122.46 million shares valued at RM103.98 million.
At the regional markets, Hong Kong's Hang Seng lost 3.10% to 19,250.54, Japan's Nikkei 225 fell 2.01% to 8,562.47, Australia's S&P/ASX 200 Index was down 2.88% to 4,073.80 and Singapore's Straits Times Index shed 2.08% to 2,766.26.
Meanwhile, the China, Taiwan and South Korean markets were closed for the mid-autumn public holiday.
BIMB Securities Research in a note Sept 12 said fears of the still unresolved financial crisis in Greece prompted a sell down on European stocks which inadvertently affected Wall Street as well.
As a result, there was selling of equities across the board, it said.
'For Asia, we fear that regional bourses might get sucked into this current selling trend as investors are now becoming more allergic to negativities.
'Domestically we can expect some selling to emerge but envisage a lesser magnitude of decline. 1,450 remains the immediate support level for the FBM KLCI,' it said.
On Bursa Malaysia, Petronas Dagangan fell 34 sen to RM17.30, Petronas Gas 30 sen to RM13.30, PPB 28 sen to RM16.66, Genting 21 sen to RM9.56, KLK 20 sen to RM21.40, Hong Leong Bank 18 sen to RM12.02, BAT and HLFG 16 sen each to RM43.52 and RM11.36, Nestle 14 sen to RM49.30 and IOI Corp 12 sen to RM4.66.
Systech was the most actively traded counter with 9.64 million shares done. The stock declined three sen to 38 sen.
Other actives included E&O, Tejari, Timecom, Malton, TMS, Ramunia, Hubline and LBS.
Meanwhile, gainers included Shell, Kumpulan Europlus, E&O, Ark and Parkson.
The 30-stock index declined, weighed by losses at blue chip counters including Petronas-linked stocks, Genting and PLANTATION []-linked counters.
Asian stocks fell and the euro remained under pressure on Monday after the resignation of a top German European Central Bank board member cast further doubt on Europe's ability to tackle its worsening sovereign debt crisis, according to Reuters.
Juergen Stark's plan to resign from the ECB's board underscored the internal divisions over its bond-buying programme -- one of the central bank's main weapons in fighting the debt crisis by forcing down yields of country's under pressure from the bond markets, it said.
At 10am, the FBM KLCI fell 14.63 points to 1,454.49. Market breadth was negative with 312 losers, 57 gainers and 90 counters unchanged.
Volume was 122.46 million shares valued at RM103.98 million.
At the regional markets, Hong Kong's Hang Seng lost 3.10% to 19,250.54, Japan's Nikkei 225 fell 2.01% to 8,562.47, Australia's S&P/ASX 200 Index was down 2.88% to 4,073.80 and Singapore's Straits Times Index shed 2.08% to 2,766.26.
Meanwhile, the China, Taiwan and South Korean markets were closed for the mid-autumn public holiday.
BIMB Securities Research in a note Sept 12 said fears of the still unresolved financial crisis in Greece prompted a sell down on European stocks which inadvertently affected Wall Street as well.
As a result, there was selling of equities across the board, it said.
'For Asia, we fear that regional bourses might get sucked into this current selling trend as investors are now becoming more allergic to negativities.
'Domestically we can expect some selling to emerge but envisage a lesser magnitude of decline. 1,450 remains the immediate support level for the FBM KLCI,' it said.
On Bursa Malaysia, Petronas Dagangan fell 34 sen to RM17.30, Petronas Gas 30 sen to RM13.30, PPB 28 sen to RM16.66, Genting 21 sen to RM9.56, KLK 20 sen to RM21.40, Hong Leong Bank 18 sen to RM12.02, BAT and HLFG 16 sen each to RM43.52 and RM11.36, Nestle 14 sen to RM49.30 and IOI Corp 12 sen to RM4.66.
Systech was the most actively traded counter with 9.64 million shares done. The stock declined three sen to 38 sen.
Other actives included E&O, Tejari, Timecom, Malton, TMS, Ramunia, Hubline and LBS.
Meanwhile, gainers included Shell, Kumpulan Europlus, E&O, Ark and Parkson.
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