Friday, September 30, 2011

KLCI slips into the red at mid-day as Asian markets fall

KUALA LUMPUR: The FBM KLCI slipped into negative territory at the mid-day break on Friday, Sept 30 in line with key regional markets that mostly fell, indicating that investor sentiment remains fragile still despite some positive movement on the European front to address the Greek debt crisis.

Asian stocks fell on Friday, extending the worst monthly performance since the most volatile days of the global financial crisis in October 2008, with Chinese shares racking up sharp losses, according to Reuters.

Fears of a spiralling European debt crisis and a slowing global economy that would hit Asian exports caused investors to slash their bets on risky assets in the September quarter, it said.

The FBM KLCI slipped 0.11 point to 1,387.35 at the mid-day break.

Gainers edged losers by 336 to 291 while 262 counters traded unchanged. Volume was 633.94 million shares valued at RM849.56 million.

The ringgit weakened 0.28% to 3.1872 versus the US dollar; crude palm oil futures for the third month delivery rose RM13 per tonne to RM2,911, crude rose 45 cents per barrel to US$82.59 while gold gained US$9.15 an ounce to US$1,623.55.

At the regional markets, Hong Kong's Hang Seng Index fell 2.08% to 17,636.47, Singapore's Straits Times Index lost 1.53% 2,666.79, South Korea's Kospi down 1.25% to 1,747.22, the Shanghai Composite Index fell 0.37% to 2,356.48 and Japan's Nikkei 225 slipped 0.28% to 8,676.54.

Meanwhile, Taiwan's Taiex was up 0.14% to 7,192.44.

On Bursa Malaysia, RHB Capital erased its earlier gains and fell 14 sen to RM7.02; MISC fell 10 sen to RM5.92, Petronas Chemicals four sen to RM5.51, Litrak 15 sen to RM3.60, Nakamichi 14.5 sen to 81.5 sen, Ireka 13.5 sen to 65 sen, SOP 12 sen to RM3.88 and Industronics 12 sen to 45 sen.

Among the gainers, Panasonic was up RM1.22 to RM19.80, Nestle 50 sen to RM47.50, Dutch Lady 40 sen to RM18, Milux'' and SPB 21 sen each to RM1.29 and RM3.28, Shell 20 sen to RM9.70, NSOP 19 sen to RM5.09, GAB 17 sen to RM9.92, OSK 16 sen to RM1.55 and AIC 13 sen to RM1.31.

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

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