KUALA LUMPUR: The FBM KLCI extended its losses at mid-morning on Monday, Sept 26 in line with the tepid global economic outlook, the overhanging euro zone debt crisis and the absence of a clearer solution to avert a Greek default.
Investors mostly stayed on the sidelines even as reports emerged that European leaders were working on new ways to stop the fallout from the euro zone sovereign debt crisis wreaking more damage on the world economy.
The FBM KLCI fell 16.48 points to 1,349.46 at 10am, weighed by losses including at Maybank, Public Bank and Petronas Chemicals.
Volume was 109.46 million shares valued at RM138.08 million.'' Market breadth remained negative with losers beating gainers by 351 to 53, while 167 counters traded unchanged.
At the regional markets, Japan's Nikkei 225 fell 1.65% to 8,419.36, South Korea's Kospi lost 1.2% to 1,677.14, Singapore's Straits Times Index was down 0.82% to 2,676.65 and Taiwan's Taiex shed 0.67% to 6,998.85.
Meanwhile, Hong Kong's Hang Seng Index gained 0.28% to 17,718.29 and the Shanghai Composite Index edged up 0.21% to 2,438.39.
BIMB Securities Research in a note Sept 26 said that with more and more investors now starting to associate prevailing crisis to that of 2008, monies had been taken out of global equity markets in droves.
For last week at least, Wall Street saw a 6.4% decline not to mention that of the European and Asian bourses, it said.
It said that on last Friday, investors seemed to have calmed down for now with the Dow Jones Industrial Average edging 38 points higher albeit sentiments remain ultra-sensitive to the slightest of negative news.
'Despite valuations especially those in Asia becoming more alluring, we reckon investors are unlikely to indulge unless clearer signs of positive developments are apparent both in Europe and US.
'Locally, we are now hanging precariously above the next support of 1,350 and believe market participation to be sparse today with some downside bias,' it said.
Among the losers on Bursa Malaysia, Maybank fell 16 sen to RM7.83, KLK 42 sen to RM20.28, Public Bank down 40 sen to RM12.04, Dutch Lady 34 sen to RM17.68, Batu Kawan ''and Genting PLANTATION []s 24 sen each to RM14.80 and RM6.86, Ta Ann and Hong Leong Bank 23 sen each to RM4.32 and RM9.62, LPI 20 sen to RM12 and Petronas Chemicals seven sen to RM5.39.
Gainers included Ulicorp, Hong Leong Industries, QSR, Theta, IJM Plantations, AIC, Asdion, Cypark and CI Holdings.
Actives included SAAG, Takaso, Systech, E&O, Petronas Chemicals and Tejari.
Investors mostly stayed on the sidelines even as reports emerged that European leaders were working on new ways to stop the fallout from the euro zone sovereign debt crisis wreaking more damage on the world economy.
The FBM KLCI fell 16.48 points to 1,349.46 at 10am, weighed by losses including at Maybank, Public Bank and Petronas Chemicals.
Volume was 109.46 million shares valued at RM138.08 million.'' Market breadth remained negative with losers beating gainers by 351 to 53, while 167 counters traded unchanged.
At the regional markets, Japan's Nikkei 225 fell 1.65% to 8,419.36, South Korea's Kospi lost 1.2% to 1,677.14, Singapore's Straits Times Index was down 0.82% to 2,676.65 and Taiwan's Taiex shed 0.67% to 6,998.85.
Meanwhile, Hong Kong's Hang Seng Index gained 0.28% to 17,718.29 and the Shanghai Composite Index edged up 0.21% to 2,438.39.
BIMB Securities Research in a note Sept 26 said that with more and more investors now starting to associate prevailing crisis to that of 2008, monies had been taken out of global equity markets in droves.
For last week at least, Wall Street saw a 6.4% decline not to mention that of the European and Asian bourses, it said.
It said that on last Friday, investors seemed to have calmed down for now with the Dow Jones Industrial Average edging 38 points higher albeit sentiments remain ultra-sensitive to the slightest of negative news.
'Despite valuations especially those in Asia becoming more alluring, we reckon investors are unlikely to indulge unless clearer signs of positive developments are apparent both in Europe and US.
'Locally, we are now hanging precariously above the next support of 1,350 and believe market participation to be sparse today with some downside bias,' it said.
Among the losers on Bursa Malaysia, Maybank fell 16 sen to RM7.83, KLK 42 sen to RM20.28, Public Bank down 40 sen to RM12.04, Dutch Lady 34 sen to RM17.68, Batu Kawan ''and Genting PLANTATION []s 24 sen each to RM14.80 and RM6.86, Ta Ann and Hong Leong Bank 23 sen each to RM4.32 and RM9.62, LPI 20 sen to RM12 and Petronas Chemicals seven sen to RM5.39.
Gainers included Ulicorp, Hong Leong Industries, QSR, Theta, IJM Plantations, AIC, Asdion, Cypark and CI Holdings.
Actives included SAAG, Takaso, Systech, E&O, Petronas Chemicals and Tejari.
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