Monday, September 19, 2011

KLCI dn 0.87%, RM2b erased from Sime market cap

KUALA LUMPUR: The FBM KLCI fell below the 1,420 level at the mid-day break on Monday, Sept 19 as key regional markets were in the red on escalating concern that euro zone debt crisis was nowhere near finding a permanent solution.

Meanwhile, conglomerate Sime Darby was among the key stocks to weigh down the FBM KLCI as the company saw some RM2.11 billion wiped off its market capitalisation during the morning trading session today.

EU finance ministers meeting in Poland broke no new ground in dealing with the debt crisis in talks over the weekend, according to Reuters.

The cancellation of a visit by Greek Prime Minister George Papandreou to the United States to chair an emergency cabinet meeting at home, and a regional election defeat for German Chancellor Angela Merkel, added to a sense of worsening crisis, it said.

The FBM KLCI fell 0.87% or 12.48 points to 1,418.45.

Market breadth turned negative with losers overtaking gainers by 333 to 164, while 272 counters traded unchanged. Volume was 323.64 million shares valued at RM550.89 million.

The ringgit weakened 0.83% to 3.1075 versus the US dollar; crude palm oil futures for the third month delivery fell RM36 per tonne to RM3,034, crude oil slipped US$1.10 per barrel to US$86.86 while gold rose US$6.23 an ounce to US$1,818.10.

At the regional markets, Hong Kong Hang Seng Index lost 2.1% to 19.047.15, the Shanghai Composite Index fell 1.41% to 2,447.38, Taiwan's Taiex was down 1.24% to 7,483.51, Singapore's Straits Times Index fell 0.56% to 2,773.53 and South Korea's Kospi shed 0.44% 1,832.04.

On Bursa Malaysia, Sime Darby's market capitalisation fell from RM48.08 billion to RM45.97 billion in the morning trading session today after the stock fell 35 sen to RM7.65.

It was also among the most actively traded stocks with 11.69 million shares done.

Other losers included Petronas Gas that fell 88 sen to RM13.80, DiGi down 58 sen to RM31.38, Hong Leong Bank 36 sen to RM10.54, Panasonic 32 sen to RM19.98, PPB 18 sen to RM16.72, MMHE 15 sen to RM6.16, MISC 14 sen to RM6.68 while BLD PLANTATION []s and IJM Corp lost 12 sen to RM6.28 and RM5.47.

Among the gainers, Nestle added 22 sen to RM49.98, F&N 20 sen to RM16.60, Lysaght 19 sen to RM1.70, BHIC 17 sen to RM2.84, KLK 16 sen to RM21.34, N2N 13 sen to 37 sen, Star nine sen to RM3.44 while HLFG added eight sen to RM11.12.

The actives included Takaso, E&O, UEM Land, Systech, Petronas Chemicals, CIMB, Green Packet and Timecom.

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