Tuesday, October 4, 2011

KLCI falls again as Asian, European markets sink

KUALA LUMPUR: External worries continued to plague sentiments at regional markets, including Bursa Malaysia on Tuesday, Oct 4, leading to extended losses recorded at most of the indices.

World stocks hit a fresh 15-month low on Tuesday and the dollar rose to a nine-month peak as fears over a major banking crisis in Europe mounted along with expectations Greece could soon default, accelerating a global economic slowdown, according to Reuters.

European banking shares fell 4.2%, with Dexia shedding as much as 37% on top of its 10% fall on Monday, as worries about the Franco-Belgian bank's heavy exposure to Greece grew, it said.

The FBM KLCI could not sustain its brief reversal of losses in the afternoon and fell 0.45% or 6.14 points to close at 1,361.38. Losers edged gainers by 368 to 298, while 271 counters traded unchanged.

Volume was 795.03 million shares valued at RM1.24 billion.

At the regional markets, South Korea's Kospi lost 3.59% to 1,706.19, Hong Kong's Hang Seng Index fell 3.4% to 16,250.27, Japan's Nikkei 225 down 1.05% to 8,456.12, Singapore's Straits Times Index lost 3.45% to 2,531.02 while Taiwan's Taiex edged up 0.48% to 7,047.87.

On Bursa Malaysia, the losers were led by BAT that fell 70 sen to RM43.42, PPB down 42 sen to RM16.06, Lafarge Malayan Cement 37 sen to RM6.53, IJM Corp 35 sen to RM4.54, KLK 34 sen to RM20.16, DiGi 32 sen to RM29.66, while Fima Corp and MMHE lost 16 sen each to RM5.06 and RM5.01.

Glove makers were among the major gainers today, with Supermax up 48 sen to RM3.25, Top Glove 34 sen to RM4.26, while Adventa and Latexx added 18 sen each to RM1.68 and RM1.56.

Other gainers included Quality Concrete, Shell, HLFG, Nestle and Ipmuda.

MAA was the most actively traded counter with 36.6 million shares done. The stock fell 8.5 sen to 40 sen.

Other actives included IRCB, Dialog, SP Setia, AirAsia, GPRO, Latexx, DVM and Takaso.

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