Tuesday, November 15, 2011

KLCI pares down losses at mid-day on bargain hunting

KUALA LUMPUR (Nov 15): The FBM KLCI pared down some of its losses at the mid-day break on Tuesday, Nov 15 as investors nibbled on select blue chip stocks.

Meanwhile, Asian markets mostly remained in the red with investors staying on the sidelines as jittery European credit markets hurt sentiment.

The 30-stock FBM KLCI trimmed its losses to just 0.37 of a point to 1,478.50 at 12.30pm. The index had earlier fallen to its intra-morning low of 1,473.71.

Losers led gainers by 389 to 306, while 237 counters traded unchanged. Volume was 1.8 billion shares valued at RM737.82 million.

The ringgit weakened 0.33% to 3.1460 versus the US dollar; crude palm oil futures for the third month delivery gained RM2 per tonne to RM3,196, crude oil added three cents per barrel to US$98.17 while gold fell US$5.15 an ounce to US$1,775.27.

At the regional markets, Hong Kong's Hang Seng Index lost 1.09% to 19,295.53, South Korea's Kospi down 0.64% to 1,890.62, Japan's Nikkei 225 fell 0.53% to 8,557.92, Taiwan's Taiex lost 0.50% to 7,488.09, Singapore's Straits Times Index was down 0.20% to 2,824.44 while the Shanghai Composite Index shed 0.05% to 2,527.50.

On Bursa Malaysia, SHL was the top loser and fell 23 sen to RM1.11; TSH Resources lost 17 sen to RM3.63, Nilai 15 sen to RM1.40, Degem and SYF Resources fell 14.5 sen each to 90.5 sen and 77.5 sen, Carlsberg 13 sen to RM6.96, Subur Tiasa 11 sen to RM2.21 while Batu Kawan was down 10 sen to RM15.90.

Among the gainers, DiGi added 88 sen to RM35.40, Proton 38 sen to RM3.08, Amway 20 sen to RM9, Quality Concrete and Kulim 16 sen each to RM1.43 and RM3.63, while LPI Capital and Dutch Lady rose 10 sen each to RM12.94 and RM21.60.

Tiger Synergy was the most actively traded counter with 171.8 million shares done. The stock rose 1.5 sen to 15 sen.

Other actives included DPS Resources, DBE Gurney, Malton, PDZ, Karambunai, Scan Associates and Sinotop.

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