KUALA LUMPUR: The FBM KLCI slipped at mid-morning on Wednesday, Oct 12 in line with the weaker sentiment at key regional markets following the flat overnight close at Wall Street.
Asian shares fell on Wednesday on signs that Europe's debt crisis has hurt confidence in the global economy and is starting to weigh on corporate earnings, while the Slovak parliament's rejection of a plan to expand the euro zone rescue fund added to uncertainty, according to Reuters.
Slovakia is the only euro zone country yet to approve a plan to boost the funds available to the bailout vehicle, which is seen as crucial to containing Europe's debt crisis, and a re-vote was expected later this week, it said.
The FBM KLCI shed 2.85 points to 1,408.80 at 10am, weighed by losses at blue chip stocks.
Gainers trailed losers by 139 to 149, while 176 counters traded unchanged. Volume was 163.07 million shares valued at RM131.18 million.
At the regional markets, Hong Kong's Hang Seng Index fell 1.39% to 17,889.60, Japan's Nikkei 225 lost 0.74% to 8,708.40, Taiwan's Taiex down 0.68% to 7,348.49, South Korea's Kospi fell 0.63% to 1,783.75, Singapore's Straits Times Index lost 0.57% to 2,677.68 and the Shanghai Composite Index shed 0.31% to 2,341.22.
BIMB Securities Research in a note Oct 12 said most major bourses in Europe and Wall Street closed on a flat note yesterday waiting for more developments on the Euro zone bailout fund.
Now that Slovakia had rejected the initiative with the resignation of its PM, there will be another vote on the matter by the new Government over the next few days, it said.
The research house Slovakia's move had added a tinge of uncertainty to the global markets, and that investors would remain sidelined with some profit taking on the regional bourses.
'Domestically, we see the FBM KLCI to be flattish despite yesterday's quite impressive uptrend.
'Though we still believe the index would edge beyond the 1,420 mark, intermittent profit taking may be the biggest hindrance,' it said.
On Bursa Malaysia, ''Petronas Gas fell 34 sen to RM12.54, PPB 20 sen to RM16.02. Sunchirin 15 sen to RM1.30, Esso 11 sen to RM3.46, Petronas Dagangan eight sen to RM16.02, Lafarge Malayan Cement seven sen to RM6.60, Perstima, Genting and Petronas Chemicals down six sen each to RM3.80, RM9.44 and RM5.63 respectively, while BHIC lost five sen to RM2.57 .
Borneo Oil was the most actively traded counter with 9.7 million shares traded. The stock gained 2.5 sen to 33.5 sen.
Other actives included Timecom, GPRO, KNM, Dutaland, Ramunia, Time and KUB.
Meanwhile, gainers included GAB, JT International, BAT, DiGi, RHB Capital, Bernas and Faber.
Asian shares fell on Wednesday on signs that Europe's debt crisis has hurt confidence in the global economy and is starting to weigh on corporate earnings, while the Slovak parliament's rejection of a plan to expand the euro zone rescue fund added to uncertainty, according to Reuters.
Slovakia is the only euro zone country yet to approve a plan to boost the funds available to the bailout vehicle, which is seen as crucial to containing Europe's debt crisis, and a re-vote was expected later this week, it said.
The FBM KLCI shed 2.85 points to 1,408.80 at 10am, weighed by losses at blue chip stocks.
Gainers trailed losers by 139 to 149, while 176 counters traded unchanged. Volume was 163.07 million shares valued at RM131.18 million.
At the regional markets, Hong Kong's Hang Seng Index fell 1.39% to 17,889.60, Japan's Nikkei 225 lost 0.74% to 8,708.40, Taiwan's Taiex down 0.68% to 7,348.49, South Korea's Kospi fell 0.63% to 1,783.75, Singapore's Straits Times Index lost 0.57% to 2,677.68 and the Shanghai Composite Index shed 0.31% to 2,341.22.
BIMB Securities Research in a note Oct 12 said most major bourses in Europe and Wall Street closed on a flat note yesterday waiting for more developments on the Euro zone bailout fund.
Now that Slovakia had rejected the initiative with the resignation of its PM, there will be another vote on the matter by the new Government over the next few days, it said.
The research house Slovakia's move had added a tinge of uncertainty to the global markets, and that investors would remain sidelined with some profit taking on the regional bourses.
'Domestically, we see the FBM KLCI to be flattish despite yesterday's quite impressive uptrend.
'Though we still believe the index would edge beyond the 1,420 mark, intermittent profit taking may be the biggest hindrance,' it said.
On Bursa Malaysia, ''Petronas Gas fell 34 sen to RM12.54, PPB 20 sen to RM16.02. Sunchirin 15 sen to RM1.30, Esso 11 sen to RM3.46, Petronas Dagangan eight sen to RM16.02, Lafarge Malayan Cement seven sen to RM6.60, Perstima, Genting and Petronas Chemicals down six sen each to RM3.80, RM9.44 and RM5.63 respectively, while BHIC lost five sen to RM2.57 .
Borneo Oil was the most actively traded counter with 9.7 million shares traded. The stock gained 2.5 sen to 33.5 sen.
Other actives included Timecom, GPRO, KNM, Dutaland, Ramunia, Time and KUB.
Meanwhile, gainers included GAB, JT International, BAT, DiGi, RHB Capital, Bernas and Faber.
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