Friday, September 30, 2011

Extended foreign selling batters KLCI in 3Q

KUALA LUMPUR: Extended selling by foreign funds in September, underpinned by the gloomy global economic outlook and less than clear solutions to solve the eurozone debt crisis weighed heavily on the FBM KLCI, leading it to lose more than 60 points during the month.

The FBM KLCI slipped 0.33 point to close at 1,387.13 on the final trading day of the third quarter. Year-to-date, the FBM KLCI has lost 8.68%.

Gainers edged losers by 389 to 377, while 271 counters traded unchanged. Volume was 1.1 billion shares valued at RM1.85 billion.

Meanwhile, the slump at regional markets also highlighted the fragile investor sentiment, with China's stock market falling to its lowest level in two and half years, and Japan's Nikkei 225 posting its worst quarter in over a year.

At the regional markets, Hong Kong's Hang Seng Index lost 2.32% to 17.592.41, Singapore's Straits Times Index fell 1.22% to 2,675.16, the Shanghai Composite Index shed 0.26% to 2,359.22, and Japan's Nikkei closed 0.01% lower at 8,700.29.

Meanwhile, Taiwan's Taiex added 0.60% to 7,225.38 and South Korea's Kospi edged up 0.02% to 1,769.65.

On Bursa Malaysia, MMHE was the top loser and fell 38 sen to RM5.50; Atis lost 25 sen to 90 sen, Genting 23 sen, Atland 18 sen to RM3, RHB Capital 16 sen to RM7, while Nakamichi, SHL and MISC fell 15 sen each to 81 sen, RM1.15 and RM5.87 respectively.

Among the gainers, Nestle added 98 sen to RM47.98, Panasonic 92 sen to RM19.50, F&N 36 sen to RM16.50, Parkson 30 sen to RM5.68, PPB 24 sen to RM16.26, Milux and Lafarge Malayan Cement down 21 sen each to RM1.29 and RM6.56, while NSOP and KLCCP lost 19 sen each to RM5.09 and RM3.19.

The actives included Dialog, GPRO, OSK, AirAsia, Timecom, UEM Land, Palette, MRCB and Trinity.

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