Tuesday, October 25, 2011

Lacklustre morning for market, EU summit in focus

KUALA LUMPUR: The market put up a lacklustre performance in the morning session on Tuesday, Oct 25 as investors decided to stay on the sidelines ahead of the EU finance ministers' summit on Wednesday.

At 12.30pm, the FBM KLCI had dipped 0.87 of a point to 1,449.15. Turnover was 424.87 million shares valued at RM388.20 million. Losers beat gainers 383 to 193 while 230 stocks were unchanged.

With the holidays on Wednesday, investors were not keen to put money into the riskier equities. The unimpressive market sentiment was also reflected in the key regional markets.

Japan's Nikkei fell 0.44% to 8,805.22, South Korea's Kospi dipped 0.18% to 1,894.95 and Singapore's Straits Times Index eased 0.09% to 2,758.58. However, Hong Kong's Hang Seng Index rose 0.54% to 18,873.10.

Among the commodities, crude palm oil third-month futures rose RM38 to RM2,928 while US light crude oil added 46 cents to US$91.73. The ringgit was firmer against the US dollar at 3.1278.

At Bursa, Genting fell five sen to RM9.97 and Genting Malaysia four sen to RM3.71 while MISC shed seven sen to RM6.71.

Among the PLANTATION [] stocks, United Plantations fell 12 sen to RM17.20 while IOI Corp shed one sen to RM5.02 but KLK rose two sen to RM20.60 and Sime five sen to RM8.69.

Public Bank and AMMB shed two sen each to RM12.48 and RM5.85 but Maybank advanced five sen to RM8.30 and RHB Cap 10 sen higher to RM7.37.

Britech was the top loser, down 13.5 sen to 11 sen while AIC and Bina Goodyear shed eight sen each to RM1.20 and 65 sen.

Among the gainers were consumer stocks, Dutch Lady up 26 sen to RM19.60, Nestle 16 sen to RM49.36, F&N 10 sen to RM16.20. DiGi added 10 sen to RM31.68 and MMHE four sen to RM5.98.

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