Friday, November 18, 2011

KLCI ends lower for 4th day, below 1,460-level

KUALA LUMPUR (Nov 18): The FBM KLCI fell below the 1,460-point level on Friday, Nov 18 in line with the weaker sentiment at global markets, as contagion fears from the eurozone debt crisis kept investors on the sidelines.

Regional markets remained mired in the red as European shares fell in early trade on Friday, extending a decline from the previous session, on mounting worries that borrowing costs in several euro zone countries are at unsustainable levels, according to Reuters.

The FBM KLCI fell 11.07 points to 1,454.40, weighed by losses including at PPB, MISC and Public Bank.

Losers beat gainers by 588 to 197, while 258 counters traded unchanged. Volume was 1.46 billion shares valued at RM1.19 billion.

At the regional markets, Japan's Nikkei 225 fell 1.23% to 8,374.91, the Shanghai Composite Index lost 1.89% to 2,416.56, Hong Kong's Hang Seng Index was down 1.73% to 18,491.23, Taiwan's Taiex lost 2.08% to 7,233.78, South Korea's Kospi fell 2% to 1,839.17 and Singapore's Straits Times shed 1.72% to 2,730.34.

On Bursa Malaysia, PPB was the too loser and fell 28 sen to RM16.52; MISC lost 24 sen to RM6.54, HLFG 22 sen to RM11.34, UMW 17 sen to RM6.43, Aeon Credit, Gamuda, AirAsia, Lafarge Malayan Cement and MMHE fell 15 sen each to RM5.50, RM3.11, RM3.65, RM6.60 and RM5.85 respectively, while Public Bank fell 14 sen to RM12.54.

Frontken was the most actively traded counter with 56.63 million shares traded. The stock fell one sen to 13 sen.

Other actives included Compugates, DPS Resources, Extol, SYF Resources, Karambunai, Tiger and SAAG.

Among the gainers, Nestle added 50 sen to RM50, BAT up 40 sen to RM46.70, Harvest Court 32 sen to RM1.36, Fima Corp 30 sen to RM6.10, Tradewinds 19 sen to RM9.22, BLD PLANTATION []s 16 sen to RM6.96 while Boxpak and DiGi added 14 sen each to RM1.34 and RM34.96.

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