Thursday, September 29, 2011

KLCI turns negative in line with global markets

KUALA LUMPUR: The FBM KLCI fell on Thursday, Sept 29 in line with the global volatility and tepid regional investor sentiment on mounting worries that an unabated euro zone malaise would plunge the world into an economic crisis.

The FBM KLCI fell 2.34 points to 1,369.21 at 10am. Gainers trailed losers by 110 to 231, while 150 counters traded unchanged.

Volume was 153.50 million shares valued at RM165.05 million.

At the regional markets, Japan's Nikkei 225 fell 0.98% to 8,531.02, the Shanghai Composite Index lost 0.83% to 2,372.23, Singapore's Straits Times Index was down 0.62% to 2,684.43 and Taiwan's Taiex shed 0.10% to 7,139.68.

South Korea's Kospi rose 0.27% to 1,727.74.

Meanwhile, the Hong Kong stock market was closed this morning as typhoon Nesat made its way past the island country en route to south China.

BIMB Securities Research in a note Sept 29 said that moves to avert a Greek tragedy had staggered on, adding that with almost 50% of the member countries ratifying the EFSF, now many are saying that the proposed '440 billion may not be sufficient to convincingly lift Europe out of prevailing financial turmoil.

As a consequence, jittery returned to Wall Street with the Dow Jones Industrial Average dropped by almost 180 points, it said.

BIMB Research said that with uncertainty still hovering above the global financial markets, trading on regional bourses today would be affected after what was a mixed day yesterday, as many remained unconvinced of an easy way out for Europe.

'On the domestic side, we reckon some selling/profit taking to emerge after posting some upside over the last two days.

'Therefore, we brace ourselves for another volatile ride with the 1,350 seen as the immediate support,' it said.

On Bursa Malaysia, losers included Pulai Springs that fell 34.5 sen to 81.5 sen, HLFG and Cepco 24 sen each to RM10.32 and RM1.79, PPB 20 sen to RM16.10, Petronas Dagangan and Batu Kawan 16 sen each to RM15.70 and RM14.80, KLK 16 sen to RM21.14, Kossan 15 sen to RM2.55, CIMB 14 sen to RM6.87 and Genting PLANTATION []s 12 sen to RM6.72.

Compugates was the most actively traded counter with 23.8 million shares done. The stock edged up half a sen to 6.5 sen.

Other actives included HWGB, S P Setia, CIMB, Tanco, Asia EP, Borneo Oil and MUI.

Gainers included S P Setia, Jaya Tiasa, Subur Tiasa, QSR, Sapura Industrial, Genting, Tenaga, Paragon and Hartalega.

No comments:

Post a Comment