Monday, October 3, 2011

KLCI pares down losses, global markets slump

KUALA LUMPUR: Global markets took a beating on the first trading day of the final quarter of 2011, as gloomy global growth outlook underpinned by the euro zone debt crisis as well as contraction in manufacturing in Europe as new orders shrank at their fastest pace since June 2009.

The FBM KLCI closed 1.41% or 19.61 lower at 1,367.52 on Monday, Oct 3, weighed by losses at banking and index-linked PLANTATION [] stocks.

The index had earlier tumbled more than 32 points to its intra-day low of 1,353.45.

Market breadth remained negative as losers outpaced gainers by 560 to 167, while 202 counters traded unchanged. Volume was 631.32 million shares valued at RM1.14 billion.

At the regional markets, Hong Kong's Hang Seng Index tumbled 4.38% to 16,822.15, Taiwan's Taiex fell 2.93% to 7,013.97, Japan's Nikkei lost 1.78% to 8,545.48 and Singapore's Straits Times Index was down 2.01% to 2,621.40.

China and South Korea's markets were closed for national holidays respectively.

Banking stocks were among the major losers on Bursa Malaysia, with HLFG down 46 sen to RM10.44, RHB Capital 31 sen to RM6.69, Hong Leong Bank 29 sen to RM9.89, AMMB 17 sen to RM5.62, Affin 13 sen to RM2.36, Maybank nine sen to RM7.91, CIMB and AFG seven sen each to RM6.90 and RM3.23, while Public Bank shed four sen to RM12.16.

Among plantations, KLK fell 60 sen to RM20.50, Sime Darby 26 sen to RM8.18, IOI Corp 19 sen to RM4.46, PPB 14 sen to RM16.48 and Batu Kawan 34 sen to RM14.62.

Other decliners included Panasonic, BAT, F&N, DiGi, Parkson and MMHE.

Gainers included Lafarge Malayan Cement, Atis, Supermax, Dutch Lady, SHL, Tasek, Petronas Dagangan, Apollo and Kotra.

The actives included GPRO, Dialog, PLUS, AirAsia, OSK, S P Setia, Flonic, UEM Land and Axiata.


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