Wednesday, November 2, 2011

KLCI falls more than 16 pts in early trade

KUALA LUMPUR (Nov 2): Stocks fell at the open on Wednesday, sending the FBM KLCI down more than 16 points following the selldown on Wall Street and key regional markets.

Investors were spooked by Greece's surprise call for a referendum on an European bailout plan that investors had hoped would be the solution to that region's sovereign debt woes, Reuters reported.

The Nikkei average lost 1.5% to 8,706.72, while the broader Topix index dropped 1.4 percent to 744.22.

At Bursa Malaysia, the KLCI fell 16.25 points to 1,459.39 at 9.22am. Turnover was 147.44 million shares done valued at RM141.62 million. Losers hammered gainers 372 to 48 while 97 stocks were unchanged.

Panasonic Malaysia continued to fall, down 44 sen to RM19.02, GENTING BHD []'' 22 sen to RM10.18, JTI 20 sen to RM6.20 while Tradewinds fell 19 sen to RM8.80.

IJM fell 18 sen to RM5.50 while Hong Leong Bank and Petronas Chemical gave up 16 sen each to RM10.56 and RM6.21.

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