KUALA LUMPUR: ''The FBM KLCI gave up its gains and slipped into negative territory at the mid-day break on Wednesday, Sept 14 in line with key regional markets that fell as unabated concerns over the euro zone crisis sapped investor confidence.
Asian stocks and the euro slipped on Wednesday as investors remained unconvinced that euro zone leaders have a coherent plan to tackle the bloc's sovereign debt problems, which many fear could trigger a new banking crisis, according to Reuters.
Global markets have been roiled since the end of July by the twin fears of renewed recession in the United States and Europe's protracted debt woes, which have seen Greece, Ireland and Portugal forced to take bailouts and piled bond market pressure on Italy and Spain, it said.
Adding to that was the Asian Development Bank trimming most of its 2011 and 2012 growth forecasts for the region despite noting that Asia's emerging economies are showing resilience in the face of the darkening global environment.
The FBM KLCI fell 0.55% or 7.99 points to 1,440.01 at 12.30pm, weighed by banking and key blue chip stocks.
Losers overtook gainers by 466 to 120, while 234 counters traded unchanged. Volume remained thin with 349.48 million shares valued at RM469.02 million.
The ringgit weakened 0.94% to 3.0840 versus the US dollar; crude palm oil futures for the third month delivery fell RM12 per tonne to RM2,995, crude oil fell US$1.40 per barrel to US$88.81 while gold shed 8 cents an ounce to US$1,833.52.
At the regional markets, Japan's Nikkei 225 fell 1.05% to 8,526.11, Hong Kong's Hang Seng Index lost 1.34% to 18,775.39, Taiwan's Taiex was down 2.07% to 7,238.04, South Korea's Kospi fell 2.90% to 1,760.27, Singapore's Straits Times Index edged down 0.29% to 2,721.55 and the Shanghai Composite Index shed 0.52% to 2,458.42.
On Bursa Malaysia, DiGi fell 42 sen to RM30.70, Tahps down 38 sen RM4, Petronas Dagangan 24 sen to RM17.22, Supermax 21 sen to RM2.37, Panasonic and Parkson 18 sen each to RM20.70 and RM5.28, KFC and Media Prima 15 sen each to RM3.53 and RM2.34, Genting 12 sen to RM9.48 and Tenaga 10 sen to RM5.11.
Among banking stocks, HLFG and Affin fell four sen each to RM10.96 and RM2.73, CIMB and RHB Capital down three sen to RM7.02 and RM8.23, while Maybank, AMMB and Public Bank fell two sen each to RM8.58, RM6.24 and RM12.86 respectively.
Systech was the most actively traded counter with 17.25 million shares done. The stock fell two sen to 27 sen.
Other actives included E&O, Takaso, Karambunai, GPRO, Asia EP, UEM Land, AirAsia and CIMB.
Gainers this morning included Dutch Lady, Toyo Ink, Batu Kawan, Genting PLANTATION []s, Maxtral, Hevea, Lafarge Malayan Cement and AirAsia.
''
Asian stocks and the euro slipped on Wednesday as investors remained unconvinced that euro zone leaders have a coherent plan to tackle the bloc's sovereign debt problems, which many fear could trigger a new banking crisis, according to Reuters.
Global markets have been roiled since the end of July by the twin fears of renewed recession in the United States and Europe's protracted debt woes, which have seen Greece, Ireland and Portugal forced to take bailouts and piled bond market pressure on Italy and Spain, it said.
Adding to that was the Asian Development Bank trimming most of its 2011 and 2012 growth forecasts for the region despite noting that Asia's emerging economies are showing resilience in the face of the darkening global environment.
The FBM KLCI fell 0.55% or 7.99 points to 1,440.01 at 12.30pm, weighed by banking and key blue chip stocks.
Losers overtook gainers by 466 to 120, while 234 counters traded unchanged. Volume remained thin with 349.48 million shares valued at RM469.02 million.
The ringgit weakened 0.94% to 3.0840 versus the US dollar; crude palm oil futures for the third month delivery fell RM12 per tonne to RM2,995, crude oil fell US$1.40 per barrel to US$88.81 while gold shed 8 cents an ounce to US$1,833.52.
At the regional markets, Japan's Nikkei 225 fell 1.05% to 8,526.11, Hong Kong's Hang Seng Index lost 1.34% to 18,775.39, Taiwan's Taiex was down 2.07% to 7,238.04, South Korea's Kospi fell 2.90% to 1,760.27, Singapore's Straits Times Index edged down 0.29% to 2,721.55 and the Shanghai Composite Index shed 0.52% to 2,458.42.
On Bursa Malaysia, DiGi fell 42 sen to RM30.70, Tahps down 38 sen RM4, Petronas Dagangan 24 sen to RM17.22, Supermax 21 sen to RM2.37, Panasonic and Parkson 18 sen each to RM20.70 and RM5.28, KFC and Media Prima 15 sen each to RM3.53 and RM2.34, Genting 12 sen to RM9.48 and Tenaga 10 sen to RM5.11.
Among banking stocks, HLFG and Affin fell four sen each to RM10.96 and RM2.73, CIMB and RHB Capital down three sen to RM7.02 and RM8.23, while Maybank, AMMB and Public Bank fell two sen each to RM8.58, RM6.24 and RM12.86 respectively.
Systech was the most actively traded counter with 17.25 million shares done. The stock fell two sen to 27 sen.
Other actives included E&O, Takaso, Karambunai, GPRO, Asia EP, UEM Land, AirAsia and CIMB.
Gainers this morning included Dutch Lady, Toyo Ink, Batu Kawan, Genting PLANTATION []s, Maxtral, Hevea, Lafarge Malayan Cement and AirAsia.
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