Wednesday, December 28, 2011

KLCI stays in the red at mid-day, struggles to breach 1,500-level

KUALA LUMPUR (Dec 28): Asian stocks retreated on Wednesday as investor sentiment remained weighed by the looming euro zone debt crisis, while a survey showed that confidence among South Korea's largest companies fell to its lowest in four months in January.

The FBM KLCI was down 2.32 points to 1,498.59 at the mid-day break, weighed by select blue chips.

Gainers trailed losers by 227 to 316, while 278 counters traded unchanged. Volume was 558.51 million shares valued at RM332.21 million.

The ringgit weakened 0.14% to 3.1720 versus the US dollar; crude palm oil futures for the third month delivery rose RM32 per tonne to RM3,191, crude oil gained two cents per barrel to US$101.36 while gold fell US$6.22 an ounce to US$1,587.00.

Asian shares eased on Wednesday in low volume with many market players away for year-end holidays, while oil kept gains from the previous day on concerns about possible supply disruptions after Iran threatened to stop the flow of oil from the Gulf, according to Reuters.

At the regional markets, Hong Kong's Hang Seng Index fell 0.67% to 18,503.67, South Korea's Kospi lost 1.13% to 1,821.14, the Shanghai Composite Index fell 0.66% to 2,151.97, Singapore's Straits Times Index lost 0.30% to 2,665.58, Taiwan's Taiex shed 0.11% to 7,077.15 while Japan's Nikkei 225 was flat at 8,440.65.

On Bursa Malaysia, losers included Warisan that fell 38 sen to RM2.41, Batu Kawan down 18 sen to RM17.32, Top Glove and Guan Chong lost 11 sen each to RM4.38 and RM1.98, Nestle, Kluang and HLFG fell 10 sen each to RM56.70, RM2.60 and RM11.70 respectively, while Lafarge Malayan Cement, Harvest Court and UMW fell nine sen each to RM6.81, RM1.01 and RM6.89 respectively.

Among the gainers, Petronas Gas added 40 sen to RM14.80, BAT 30 sen to RM49.30, United PLANTATION []s 20 sen to RM18.80, DKSH 16 sen to RM1.54, KrisAssets up 13 sen to RM6.05, Hup Seng and GAB up 10 sen each to RM1.80 and RM13.30, Tan Chong gained eight sen to RM4.12 and Kwantas was up six sen to RM2.04.

The actives included Utopia, Proton, JCY, MBF Holdings warrants and Vastalux.

No comments:

Post a Comment