Thursday, September 15, 2011

KLCI falls to fresh one-year low

KUALA LUMPUR: The FBM KLCI fell to a fresh one-year low on Thursday, Sept 15 as investors took profit ahead of the extended weekend in conjunction with the Malaysia Day holiday on Friday.

Meanwhile, Asian markets mostly closed higher on slight optimism that Germany and France would assist Greece from defaulting on its debts.

However, the gains were limited as investors remain skeptical over the fragile global economy.

Also, a statement by World Bank President Robert Zoellick on Wednesday that the world had entered a new economic danger zone and Europe, Japan and the United States all needed to make hard decisions to avoid dragging down the global economy, appeared to still weigh heavily on investors' minds.

"Unless Europe, Japan, and the United states can also face up to responsibilities they will drag down not only themselves, but the global economy," Zoellick said in speech at George Washington University.

The FBM KLCI fell 0.46% or 6.68 points to close at 1,430.93, the lowest level in a year, since Sept 1, 2010, dragged by losses at blue chips including at Sime Darby and CIMB.

The index had earlier fallen to its intraday low of 1,427.75 but managed to pare down some of its losses.

Losers beat gainers by 393 to 291, while 296 counters traded unchanged. Volume was 729.27 million valued at RM1.53 billion.

At the regional markets, Japan's NIkkei rose 1.76% to 8,668.86, Taiwan's Taiex was up 2.17% to 7,385.68, Hong Kong's Hang Seng Index edged up 0.71% to 19,181.5, South Korea's Kospi rose 1.42% to 1,774.08 and the Singapore Straits Times Index gained 0.97% to close at 2,765.95.

Meanwhile, the Shanghai Composite Index fell0.23% to 2,479.05.

On Bursa Malaysia, Sime Darby was the top loser and fell 47 sen to RM8 with 16.38 million shares traded.

Other decliners included Hong Leong Bank that lost 40 sen to RM11.36, Panasonic 30 sen to RM20.30, Lysaght 20 sen to RM1.51, JT International 16 sen to RM6.44, while United PLANTATION []s, Nilai, Litrak and Boustead lost 11 sen each to RM17.76, RM1.16, RM3.55 and RM5.10 respectively, and CIMB down four sen to RM6.98.

E&O was the most actively traded counter with 26.92 million shares done. The stock gained three sen to RM1.54.

Other actives included Systech, Tejari, UEM Land, AirAsia, Sime, CIMB and Axiata.

Meanwhile, gainers included DiGi, Petronas Gas, Warisan, Parkson, Dutch Lady, Tasek, Tradewinds Plantations, Berjaya Sports Toto and QSR.


No comments:

Post a Comment