Friday, December 2, 2011

Muted gains on KLCI as profit taking sends Asian markets lower

KUALA LUMPUR (Dec 2): Gains on the FBM KLCI were muted at the mid-day break on Friday, while most Asian markets fell as investors took profit ahead of the US employment data set to be released later in the day.

Although Asian stocks are poised for their first weekly rise in a month buoyed by coordinated central bank actions, the release of mixed economic data from the United States and China spooked some investors and profit taking started chipping off the gains at some of the regional markets.

The FBM KLCI was up 1.86 points at 1,487.12 at the mid-day break. Gainers trailed losers by 234 to 332, while 277 counters traded unchanged. Volume was 810.72 million shares valued at RM541.42 million.

The ringgit strengthened 0.31% to 3.1301 versus the US dollar; crude palm oil futures for the third month delivery fell RM10 per tonne to RM3,048, crude oil slipped 7 cents to US$100.13 while gold fell US$2.13 an ounce to US$1,742.70.

At the regional markets, Japan's Nikkei was up 0.27% to 8,620.25.

Elsewhere, the Shanghai Composite Index lost 1.44% to 2,352.52, Taiwan's Taiex fell 0.94% to 7,111.55, Singapore's Straits Times was down 0.65% to 2,743.84, Hong Kong's Hang Seng Index fell 0.49% to 18,909.07, and South Korea's Kospi lost 0.30% to 1,910.36.

On Bursa Malaysia, Nestle was the top gainer at the mid-day break and was up 60 sen to RM52.80; Dutch Lady gained 30 sen to RM24.70, Proton up 29 sen to RM3.39, Tradewinds PLANTATION []s 23 sen to RM4.15, Panasonic, HLFG and Harvest Court 20 sen each to RM19.94, RM11.78 and RM1.10 respectively, while Petronas Dagangan and Petronas Gas added 18 sen each to RM16.80 and RM13.50.

Among the decliners, Aeon Credit fell 20 sen to RM6.10, Shangri-La and Genting Plantations down 13 sen to RM2.25 and RM8, Inno 12 sen to RM1.23, SHL and BAT fell 10 sen each to RM1.15 and RM48, Timwell down nine sen to 76 sen, while PPB and TSH lost eight sen each to RM16.50 and RM1.91.

The actives'' included Wijaya warrants, DPS Resources, SYF Resources, Compugates and Tiger Synergy.

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