Tuesday, October 18, 2011

KLCI falls 1.89%as Asian equities retreat

KUALA LUMPUR: External factors, including a slowdown in China's quarterly gross domestic product growth as well as the German finance minister's caution against hopes for a quick fix to Europe's debt problem, dragged Asian markets deeper into the red on Tuesday, Oct 18.

The FBM KLCI fell 1.89% or 27.70 points to 1,437.65 at the mid-day break, weighed by index-linked PLANTATION [] stocks and blue chips.

Losers thumped gainers by 622 to 102, while 150 counters traded unchanged. Volume was 802.11 million shares valued at RM660.62 million.

The ringgit weakened 0.54% to 3.1178 versus the US dollar; crude palm oil futures for the third month delivery fell RM22 per tonne to RM2,854, crude oil added 13 cents per barrel to US$86.51 while gold rose US$3.75 an ounce to US$1,674.60.

At the regional markets, Hong Kong's Hang Seng Index tumbled 3.34% or 18,243.31, Taiwan's Taiex fell 1.69% to 7,335.06, the Shanghai Composite Index lost 1.67% to 2,399.58, Singapore's Straits Times Index down 1.66% to 2,732.89, Japan's Nikkei 225 fell 1.55% to 8,742.21 and South Korea's Kospi lost 1.53% to 1,836.64.

On Bursa Malaysia, KLK fell 36 sen to RM20.62, PPB Group 34 sen to RM16.60, United Plantations 28 sen to RM17.02, Sime Darby 26 sen to RM8.64, Batu Kawan 24 sen to RM14.96 and IOI Corp 19 sen to RM4.95.

Other losers included Hong Leong Bank that fell 40 sen to RM10.46, BAT 28 sen to RM44.62, Petronas Gas and RHB Capital 26 sen each to RM13 and RM7.14 while Jaya Tiasa lost 24 sen to RM5.23.

HWGB was the most actively traded counter with 45.2 million shares done. The stock rose half a sen to 38.5 sen.

Other actives included Harvest Court, SAAG, OSK, Leader Universal, YTL Land, GPRO and UEM Land.

Among the gainers, PacificMas jumped 34 sen to RM3.41, Leader Universal up 15 sen to 99 sen, SHL 13 sen to RM1.34, Asia File and Petronas Dagangan 10 sen each to RM3.70 and RM16.10, Harrisons six sen to RM3.21 while Aeon Credit was up five sen to RM4.75.

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