KUALA LUMPUR (Dec 9): The FBM KLCI looked poised to extend its losses on Friday on profit taking ahead of the weekend as Wall Street and European markets fell overnight on heightened worries over the Eurozone debt crisis.
The FBM KLCI fell 11.34 points to 1,461.58 at 10am, weighed by losses at blue chips.
Losers outnumbered gainers by 306 to 97, while 185 counters traded unchanged. Volume was 331.08 million shares valued at RM196.19 million.
Asian shares and commodities fell on Friday, while the euro remained under pressure, on growing doubts that European leaders could forge a credible plan to solve the euro zone's debt crisis at a summit later in the day, according to Reuters.
European Union leaders looked set to adopt a new system of fiscal discipline, but sentiment worsened after the European Central Bank dashed hopes that it would serve as lender of last resort and as Germany rejected a long-term goal of issuing common euro zone bonds, it said.
At the regional markets, Hong Kong's Hang Seng Index lost 1.85% to 18,753.93, Japan's Nikkei 225 fell 1.65% to 8,521.73, South Korea's Kospi was down 1.55% to 1,882.72, Taiwan's Taiex lost 1.32% to 6,891.04, Singapore's Straits Times Index fell 0.91% to 2,703.39 and the Shanghai Composite Index shed 0.38% to 2,320.96.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients Dec 9 said the FBM KLCI fell by 10.07-points to close at 1,472.92 on Thursday on profit taking.
'Its resistance areas of 1,472 and 1,500 will cap market gains, whilst the weaker support areas may be located at 1,450 and 1,469.
'Due to the US markets' poorer tone last night, we will have a volatile day for the local index today with broad pre-weekend profit taking and liquidation,' he said.
On Bursa Malaysia, KLK was the top loser at mid-morning and fell 70 sen to RM22.30; Petronas Dagangan lost 36 sen to RM16.82, HLFG 24 sen to RM11.26, PPB 22 sen to RM16.28, BAT 20 sen to RM47.20, Genting 18 sen to RM10.70, MISC 16 sen to RM5.79, AMMB 15 sen to RM5.75, Petronas Gas 14 sen to RM13.70 and Gamuda 13 sen to RM3.15.
Compugates was the most actively traded counter with 35.6 million shares done. The stock fell half a sen to 6.5 sen.
Other actives included Versatile, Pavilion REIT, LFE Corp, SYF Resources, DPS Resources and Takaso.
The gainers included Dutch Lady, JT International, Cycle & Carriage, Harvest Court, Quill Capita and LFE Corp.
The FBM KLCI fell 11.34 points to 1,461.58 at 10am, weighed by losses at blue chips.
Losers outnumbered gainers by 306 to 97, while 185 counters traded unchanged. Volume was 331.08 million shares valued at RM196.19 million.
Asian shares and commodities fell on Friday, while the euro remained under pressure, on growing doubts that European leaders could forge a credible plan to solve the euro zone's debt crisis at a summit later in the day, according to Reuters.
European Union leaders looked set to adopt a new system of fiscal discipline, but sentiment worsened after the European Central Bank dashed hopes that it would serve as lender of last resort and as Germany rejected a long-term goal of issuing common euro zone bonds, it said.
At the regional markets, Hong Kong's Hang Seng Index lost 1.85% to 18,753.93, Japan's Nikkei 225 fell 1.65% to 8,521.73, South Korea's Kospi was down 1.55% to 1,882.72, Taiwan's Taiex lost 1.32% to 6,891.04, Singapore's Straits Times Index fell 0.91% to 2,703.39 and the Shanghai Composite Index shed 0.38% to 2,320.96.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients Dec 9 said the FBM KLCI fell by 10.07-points to close at 1,472.92 on Thursday on profit taking.
'Its resistance areas of 1,472 and 1,500 will cap market gains, whilst the weaker support areas may be located at 1,450 and 1,469.
'Due to the US markets' poorer tone last night, we will have a volatile day for the local index today with broad pre-weekend profit taking and liquidation,' he said.
On Bursa Malaysia, KLK was the top loser at mid-morning and fell 70 sen to RM22.30; Petronas Dagangan lost 36 sen to RM16.82, HLFG 24 sen to RM11.26, PPB 22 sen to RM16.28, BAT 20 sen to RM47.20, Genting 18 sen to RM10.70, MISC 16 sen to RM5.79, AMMB 15 sen to RM5.75, Petronas Gas 14 sen to RM13.70 and Gamuda 13 sen to RM3.15.
Compugates was the most actively traded counter with 35.6 million shares done. The stock fell half a sen to 6.5 sen.
Other actives included Versatile, Pavilion REIT, LFE Corp, SYF Resources, DPS Resources and Takaso.
The gainers included Dutch Lady, JT International, Cycle & Carriage, Harvest Court, Quill Capita and LFE Corp.
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