Wednesday, September 14, 2011

KLCI closes at lowest level in a year

KUALA LUMPUR: The FBM KLCI closed at its lowest level since Sept 9, 2010 on Wednesday, Sept 14, in line with the fall at most regional markets on concerns of worsening euro zone debt crisis.

The FBM KLCI fell 0.72% or 10.39 points to 1,437.61, weighed by losses including at Sime Darby, Genting and Tenaga.

Market breadth was negative with 583 losers, 163 gainers and 280 counters trading unchanged. Volume was 766.82 million shares valued at RM1.31 billion.

At the regional markets, Japan's Nikkei 225 fell 1.14% to 8,518.57, South Korea's Kospi lost 3.52% to 1,749.16 and Taiwan's Taiex was down 2.20% to 7,228.47.

Meanwhile, the Shanghai Composite Index reversed earlier losses and was up 0.55% to 2,484.83; Hong Kong's Hang Seng Index edged up 0.08% to 19,045.44 and Singapore's Straits Times Index gained 0.37% to 2,739.35.

European shares turned positive on Wednesday after European Commission President Jose Manuel Barroso said the commission will soon present options for the introduction of common euro bonds, which some believe can help resolve the debt crisis, according to Reuters.

Barroso told the European Parliament that some of these could be implemented within the terms of the current European treaty, whereas others would require treaty changes, it said.

On Bursa Malaysia, Sime Darby fell 23 sen to RM8.47, Genting lost 16 sen to RM9.44, Tenaga nine sen to RM5.12, United PLANTATION []s 60 sen to RM17.90, Warisan 42 sen to RM2.22, Tahps and DiGi 38 sen each to RM4 and RM30.74, Ta Ann 35 sen to RM4.80, Panasonic 28 sen to RM20.60, Supermax 26 sen to RM2.32, Bernas 23 sen to RM3.17 and Nestle 22 sen to RM49.78.

Systech was the most actively traded counter with 36 million shares done. The stock fell 3.5 sen to 25.5 sen.

Other actives included E&O, AirAsia, Karambunai, UEM Land, Takaso, CIMB and Axiata.

Gainers included BAT, Batu Kawan, Dutch Lady, Shell, PPB and BRDB.


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