Tuesday, September 13, 2011

External factors keep markets nervous

KUALA LUMPUR: The FBM KLCI remained in positive territory at the mid-day break on Tuesday, Sept 13 but trading was cautious as external factors continued to weigh on sentiment.

The FBM KLCI was up 3.66 points to 1,449.92 at 12.30pm, with gains at select blue chips. Gainers edged losers by 266 to 240, while 220 counters traded unchanged. Volume was 402.37 million shares valued at RM331.04 million.

The ringgit fell 0.57% to 3.0464 versus the US dollar; crude palm oil futures for the third month delivery fell RM42 per tonne to RM3,019, crude oil gained 76 cents per barrel to US$88.95 while gold jumped US$19.50 an ounce to US$1,834.80.

China's benchmark stock index fell 1.4% by midday on Tuesday, dragged down by cement firms and hit by a slump in global markets due to growing concerns over European's widening debt crisis, according to Reuters.

The Shanghai Composite Index stood at 2,462.1 points by the midday break after falling 1.2 percent over the week last week. The market was closed for a public holiday on Monday for the Mid-Autumn Festival, it said.

Japan's Nikkei 225 gained 0.54% to 8,581.76 and Singapore's Straits Times Index rose 1.08% to 2,773.31. Meanwhile, the Shanghai Composite Index fell 1.43% to 2,462.10 and Taiwan's Taiex lost 2.50% to 7,420.31. The Hong Kong and South Korean stock markets were closed for the mid-Autumn Day public holidays.

On Bursa Malaysia, APM Automotive was the top gainer this morning and added 23 sen to RM4.84; Nestle rose 20 sen to RM49.50, Shell 19 sen to RM5.99, BAT 12 sen to RM43.24, CI Holdings and Tenaga 10 sen each to RM4.45 and RM5.24, MMC Corp nine sen to RM2.67, Bintulu Port eight sen to RM6.62, CHHB 7.5 sen to 99.5 sen while Konsortium added seven sen to RM1.25.

Among the decliners, DiGi fell 24 sen to RM31.46, Tasek 15 sen to RM7.35, Hong Leong Bank 14 sen to RM11.86, Top Glove 13 sen to RM4.15, Asia File 12 sen to RM3.56, QSR 10 sen to RM5.60, Sunchirin eight sen to RM1.45 while Media Prima lost seven sen to RM2.52.

Takaso shares and warrants were actively traded this morning. The warrants gained 6 sen to 6.5 sen with 126.6 million units done, while the shares declined one sen to 20 sen with 29.9 million shares traded.

Other actives included Systech, Digista, Key West, Dutaland, Ramunia, Malton and AirAsia.

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