Yen drifts up as Japan silent, Asia stocks down

HONG KONG: The yen drifted higher on Thursday,'' Sept 16 though the threat of Japan selling more of its currency loomed, while Asian stocks slipped from a near five-month high.

Japan's solo intervention to weaken the yen on Wednesday arrived sooner than many market participants had expected, making investors suspect officials in other Asian economies may keep their currencies weak and pushing up longer-term U.S. Treasury yields.

For a yen PDF, click: http://r.reuters.com/zuz33p

"After Japan joined the club of Asian central banks by intervening in the FX market, investors will now look to determine how successful the policy will turn out be," Mitul Kotecha, global head of foreign strategy at Credit Agricole CIB, said in a note.

"In the near term there will be wariness of further intervention to push the yen weaker, which will also keep other Asian currencies on the back foot."

Asia's currencies are a major focus among investors globally, especially with the Chinese government setting the yuan's mid-point for its trading range at a post-revaluation high for the fifth day in a row.

Beijing is under fire from Washington, where lawmakers have threatened to take action against China's currency practices. U.S. Treasury Secretary Timothy Geithner will tell policymakers later in the day that he is looking for ways to get Beijing to move faster on the yuan, his prepared remarks to Congress showed.

All eyes were on the U.S. dollar dripping lower against the yen. Japan did not appear to step in to currency markets during Asian trading hours, leaving what one trader called a "deafening silence".

JAPAN'S RESOLVE

The U.S. dollar was down 0.5 percent at 85.30 yen, not too far from Wednesday's high of around 85.75 yen. Dealers on Thursday may further test Japan's resolve to keep the yen weak, though portfolio managers with a longer time horizon could hold off on closing out of bets on yen weakness.

"Institutional investors have started to close their yen-short/dollar-long positions since mid-August, which I think has helped to accelerate the yen's rise. Intervention could make those investors think twice about closing their positions," Kimihiko Tomita, the head of forex at State Street Global Markets in Tokyo, said.

The yen was climbing the most against other currencies. The Australian dollar, for example, rose 0.9 percent to 79.74 yen.

Still, expectations that Japan is determined to make its yen selling policy effective made Japanese exporter stocks outperform most of Asia.

Japan's Nikkei share average was largely unchanged after earlier climbing to the highest since August 10. Large and liquid exporter stocks outperformed the broad market, with Toyota Motor Corp up 2.2 percent.

Despite the Nikkei's stand-out equity gains this week, Japan has significantly underperformed other advanced stock markets in the current quarter. U.S. and European stocks are up some 9 percent while Japan has eked out a gain of 1.3 percent.

The MSCI index of Asia Pacific stocks outside Japan slipped 0.6 percent on profit taking in the materials sector. Commodity-related stocks have been outperforming the MSCI index, climbing 20 percent since June compared with the index's returns of 16 percent.

Investors will be looking to reports on new U.S. jobless claims, producer prices and a regional manufacturing report later in the day. Recent data has suggested the U.S. economy is stuck in a soft patch but do not suggest a new recession is brewing, as some analysts had feared.

Investors took advantage of the overnight rise in the late-maturity U.S. Treasury yields and bought the bonds back. The 10-year U.S. Treasury yield slipped two basis points from late Wednesday in New York to 2.70 percent.

Japan's yen selling had weighed on long-maturity U.S. yields on Wednesday in anticipation that the purchased dollars would presumably be recycled into short-maturity Treasuries.

The spread of 10-year Treasury yields over Japanese bond yields widened to the most in almost a month, offering another reason for dealers to get behind dollar strength against the yen.

Gold was nearly unchanged at $1,267.35 an ounce after hitting a record high of $1,274.75 on Tuesday.

U.S. crude fell for a third straight day, down 0.5 percent to $75.64 a barrel, after Enbridge said U.S. regulators have agreed to a Friday restart of the company's biggest pipeline from Canada, restoring crude supplies to Midwest refiners. - Reuters

Nikkei edges down; eyes on yen intervention impact

TOKYO: Tokyo stocks inched down after hitting a five-week high on Thursday, Sept 16 as the yen failed to continue to weaken as much as some market players had hoped after Japan intervened in the market the previous day to weaken it.

The yen's tumble off a 15-year high against the dollar due to Japan's first intervention in six years boosted the benchmark Nikkei more than 2 percent on Wednesday, lifting shares of exporters such as high-tech firms and automakers.

Short-covering continued to lift the stock market earlier on Thursday, but concerns about how effective Japanese authorities would be kept the dollar/yen rate in check and that weighed on share prices.

"The yen's retreat hasn't been as big as the market had hoped -- dollar/yen has yet to touch 86 yen -- and the yen remains on the strong side. That weighed on stocks that have been boosted short-covering. New money isn't really flowing in," said Mitsushige Akino, chief fund manager at Ichiyoshi Investment Management Co.

Investors will be watching a series of events in the United States for further clues on the yen's future performance.

U.S. Treasury Secretary Tim Geithner will testify before the Senate Banking Committee at 1400 GMT, and the Federal Reserve is scheduled to hold a policy-setting meeting next Tuesday.

Any criticism from Geithner on Japanese intervention could spark speculation that Japan may scale back its activity, dealers said.

"Investors are sceptical about the effectiveness of the intervention as it was a solo action and the Fed meeting is on the horizon. If the Fed decides on further quantitative easing, for example, that would lead the yen to strengthen again," Akino said.

The dollar traded at 85.33 yen. It had hit a 15-year low below 83 yen on Wednesday just before Tokyo stepped into the currency market.

Repatriation flows by investors and manufacturers sending overseas earnings back to Japan this month could also nudge the yen higher against the dollar, one market analyst said.

The benchmark Nikkei fell 0.2 percent or 17.44 points to 9,499.12 after touching a five-week intraday high of 9,620.90. The broader Topix dipped 0.6 percent to 843.64.

Market players said the Nikkei also trimmed gains after facing stiff selling pressure above 9,600 from investors who had waited to square large long positions built at that level.

But they said the Nikkei could probe further highs once the position squaring peters out.

"There are also substantial short positions needing to be covered at levels around 9,500 and 9,600. Some short-covering began in futures yesterday and the same could happen in the cash market," said Kenichi Hirano, operating officer at Tachibana Securities.

From a technical viewpoint, the focus was on whether the Nikkei could consolidate its footing above the 75-day moving average, currently around 9,455.

The benchmark moved above its 75-day moving average for the first time in four months the previous day, which is seen as a bullish signal.

The Nikkei moved further into its Ichimoku cloud, an area of resistance on technical charts, after piercing the bottom of the cloud on Wednesday. Further resistance is seen at around 9,660, the top of the cloud. Ichimoku charts are popular with Japanese traders.

Shares of exporters were mixed, with Sony Corp rising 1.3 percent to 2,630 yen but Canon Inc falling 0.1 percent to 3,830 yen. Among automakers, Toyota Motor Co was up 1.3 at 3,050 yen. - Reuters

US industrial output growth slows; import prices up

WASHINGTON: U.S. industrial output slowed last month and a regional measure of factory activity touched a 14-month low in September, pointing to a cooling in manufacturing as the boost from an inventory build-up fades.

The reports on Wednesday, Sept 15 were consistent with other data suggesting the U.S. economy is stuck in a soft spot, but they also showed the manufacturing sector continued to expand and offered nothing to suggest a new recession was brewing.

"We have a sharp slowdown, but that doesn't look like it's going to develop into an outright collapse," said Paul Ashworth, senior U.S. economist at Capital Economics in Toronto.

Industrial production rose 0.2 percent in August, Federal Reserve data showed, matching economists' forecasts for a sharp slowdown from July when unusually strong auto manufacturing lifted output. July's gain was revised down to 0.6 percent from 1 percent.

Excluding motor vehicles and parts, total industry output increased 0.4 percent in August, compared with July's 0.3 percent advance.

Separately, the New York Fed's "Empire State" general business conditions index slipped to 4.14 in September from 7.10 in August. September's reading marked the lowest since July 2009 and was below market expectations for 8.0.

Any reading above zero in the index, which economists look to for early clues on national output, indicates expansion.

cueinstead from the foreign exchange markets following Japan's intervention to sell the yen for the first time in six years.

The U.S. dollar jumped from a 15-year low against the yen. Longer-dated U.S. government debt prices fell sharply as traders bet any reinvestment of the dollars bought by Japanese authorities would most likely be in securities with shorter maturities.

Stocks on Wall Street ended higher, but remained confined to a recent trading range.

INVENTORY BOOST FADING

Manufacturing has led the economy's recovery from its worst recession in 70 years as businesses rebuilt inventories, which had been cut to record lows to cope with weak demand. But the lift from inventories is now fading.

The Federal Reserve meets next Tuesday to assess the economy and ponder whether more stimulus is needed.

Most analysts expect the Fed to renew its promise to keep its balance sheet from shrinking, and thus avoid a de facto tightening, but not to announce any news steps to ease monetary policy.

While the Empire State headline figure was disappointing, the closely watched new orders index rebounded from negative terrain, and employment and shipment measures improved from August.

Details in the report on overall U.S. industrial output in August were also mixed, with mining production jumping 1.2 percent and utilities surprising with a 1.5 percent drop.

"Continued broad-based growth in manufacturing is an encouraging sign and consistent with our view that while the recovery has shifted to a lower growth phase, the chances of a double-dip recession remain slim," said Peter Newland, an economist at Barclays Capital in New York.

Capacity utilization, a measure of slack in the economy, rose modestly to 74.7 percent, a rate 4.7 percentage points above the year-ago level but 5.9 points below the 1972-to-2009 average.

A third report from the Labor Department showed import prices increased 0.6 percent in August after rising 0.1 percent in July. Markets had expected a 0.3 percent gain.

Prices were driven by a 2.1 percent rise in the cost of imported petroleum and strong food prices.

Excluding petroleum, import prices rose 0.2 percent, reversing the prior month's 0.2 percent decline.

Analysts said the firmer import prices reduced the chances of the economy slipping into deflation, an economically disabling, broad-based decline in consumer prices.

"It's a sign that the deflationary pressure isn't quite as strong as we were worried about a few months ago," said Capital Economics' Ashworth.

The report showed export prices rebounded 0.8 percent last month after slipping 0.2 percent in July. Export prices were boosted by a 4.3 percent jump in food prices, the biggest rise in 14 months. - Reuters

Nikkei gains 1.1 pct, exporters up as yen on back foot

TOKYO: The Nikkei average gained 1.1 percent on Thursday, Sept 16 with exporters such as Toyota Motor gaining as the yen remained on the defensive after Japan intervened in the market the previous day to weaken the currency.

The benchmark Nikkei rose 103.26 points to 9,619.82. The broader Topix rose 0.8 percent to 855.03.

The dollar traded at 85.55 yen, after having falling to a 15-year low below 83 yen on Wednesday just before Tokyo stepped into the currency market.

In Seoul, shares slipped on Thursday as banks such as KB Financial Group edged lower after a recent rally, but modest rises in TECHNOLOGY [] stocks such as LG Display gave the market support.

The Korea Composite Stock Price Index (KOSPI) was down 0.02 percent at 1,823.54 points as of 0006 GMT. - Reuters

Wall St advances but remains range-bound

NEW YORK: Wall Street advanced on Wednesday, Sept 15 but remained hemmed in a recent trading range as disappointing economic data hindered the S&P 500 from breaking through a stubborn technical level.

Markets were pressured early by a report showing a measure of New York state business conditions slipped to the lowest level in more than a year, while industrial output rose at a slower rate in August.

The S&P found support shortly after the reports at its 200-day moving average, climbing back above the 1,115 level.

But the benchmark index was once again unable to pierce the 1,130 threshold, seen as a key resistance level by analysts, which, if breached, could spark further buying.

"Pretty much everything was down across the board as far as the data, and the market really didn't flinch. It recovered quite nicely once the bell rang," said Dan Cook, senior market analyst at IG Markets in Chicago.

"We are due for a serious test of that 1,130 this week, and we should get a determination there. Maybe we are just taking a pause before that next charge begins."

The Dow Jones industrial average gained 46.24 points, or 0.44 percent, to 10,572.73. The Standard & Poor's 500 Index rose 3.97 points, or 0.35 percent, to 1,125.07. The Nasdaq Composite Index climbed 11.55 points, or 0.50 percent, to 2,301.32.

Among the top decliners, energy shares were pressured by a fall in crude oil prices and TECHNOLOGY [] shares lost ground after some bearish analyst comments.

Equities were little moved after the Japanese government intervened in global currency markets to sell yen for the first time in six years, though the U.S. dollar climbed.

October crude futures settled down 1 percent to $76.02 per barrel, while the S&P Energy index lost 0.2 percent.

Chevron Corp slipped 0.4 percent to $79.21 and was among the top decliners on the Dow.

Fellow Dow component Kraft Foods Inc gained 1.7 percent to $31.59 after saying it would squeeze another $1 billion in revenue from its global business by 2013 as its North American business faces challenges.

Semiconductors edged lower after Goldman Sachs downgraded chipmakers Micron Technology Inc to "neutral" and Maxim Integrated Products Inc to "sell."

Micron shares lost 4.5 percent to $6.94 and Maxim shed 0.5 percent to $16.75. The Philadelphia semiconductor index fell 0.3 percent. - Reuters

Yen sinks on Japan intervention; stocks drift

NEW YORK: The dollar posted its largest daily gain against the yen in nearly two years as Japan began selling its currency on foreign exchange markets on Wednesday, Sept 15 while global economic uncertainties weighed on stocks.

Prices of two-year U.S. Treasuries rose as traders anticipated the Bank of Japan may soon buy shorter-dated U.S. debt to park dollars coming in from its currency intervention, the first in more than six years.

Japanese shares jumped as a weaker currency should benefit exporters. Nikkei stock futures traded in Chicago continued to gain late in the afternoon, with the December contract rising 10.0 points to 9.660 points.

But weak U.S. manufacturing data rekindled concerns about the global economic recovery, weighing on global stocks and keeping gold prices near record highs.

Meanwhile, the yuan scored its fastest five-session rise against the dollar in more than two years, as U.S. pressure mounts again over the value of the Chinese currency.

Japanese authorities sold more than 2 trillion yen ($23.37 billion) on Wednesday, according to market estimates, and promised to keep intervening in the foreign exchange market to protect its fragile economic recovery.

But analysts questioned whether the government may eventually curb the strength of the yen, which recently reached its highest level in 15 years, threatening Japanese exporters.

"Speculators have been long of yen so there is scope for further yen selling. But there's skepticism over whether the Japanese can change the trend as fundamentals haven't altered," said Beat Siegenthaler, a foreign exchange strategist at UBS.

The dollar remains nearly 8 percent lower this year against the yen, which is seen by investors as a safe haven from concerns over global growth.

The dollar jumped 3.23 percent to a 85.73 yen, after having dropped to a 15-year low of 82.87 yen earlier, and was up 0.5 percent against a basket of major currencies.

Japan's intervention also helped send the euro, Australian dollar and sterling sharply higher on the day against the Japanese currency, although traders doubted Tokyo had bought anything other than dollars.

The euro was up 3.3 percent at 111.50 yen.

PRESSURE OVER CHINA

The Chinese yuan rose 0.77 percent against the greenback from its close of 6.7943 on Thursday last week.

Dealers said, however, that the yuan's latest rally also coincided with the dollar index's 1 percent decline in global markets over the same period. They warned that a pullback in the yuan's rise could occur as soon as Thursday if the dollar rebounds globally.

"U.S. pressure may be the key reason for the PBOC to let the yuan rise recently, but global dollar weakness has also offered an easy excuse," said a trader at a European bank in Shanghai.

"If things run out of control, the PBOC could equally make a global dollar rebound an excuse to pull the yuan back sharply."

DATA SAPS STOCKS

Japan's benchmark Nikkei stock index rose 2.3 percent, supported by gains for exporters like Toyota Motor Corp, which climbed 3.8 percent.

But weak U.S. economic data weighed on world stocks, with the MSCI All-Country World index edging higher a modest 0.11 percent.

U.S. industrial output decelerated in August while a measure of New York state business conditions slipped to its lowest level in more than a year, reigniting fears that the world's largest economy could be slowing.

"Pretty much everything was down across the board as far as the data, and the market really didn't flinch. It recovered quite nicely once the bell rang," said Dan Cook, senior market analyst at IG Markets in Chicago. "Maybe we are just taking a pause before that next charge begins."

The Dow Jones industrial average ended 46.24 points, or 0.44 percent, at 10,572.73, while the Standard & Poor's 500 Index rose 3.97 points, or 0.35 percent, to 1,125.07. The Nasdaq Composite Index gained 11.55 points, or 0.50 percent, to 2,301.32.

In Europe, the FTSEurofirst 300 of top shares slipped 0.28 percent, pressured by disappointing economic numbers and a sharp decline in oil prices.

US YIELD CURVE STEEPENS

The U.S. Treasury yield curve steepened as investors bet any buying by Japan in the wake of its currency intervention would likely take place in shorter-dated debt.

The 2-year U.S. Treasury note rose 1/32 in price, with the yield at 0.4835 percent, while the 30-year bond fell 45/32, with the yield at 3.8766 percent.

Oil prices fell 1.02 percent to $76.02 a barrel, down for the second day, as traders bet that a key pipeline that carries oil from Canada to the U.S. Midwest will restart soon, following news that repairs to the damaged facility had been completed Tuesday night.

Gold prices remained practically stable at $1,267.60 an ounce, near its record peak of 1,274.75 set on Tuesday.

Obama looks to jump-start Wall St,/health reforms

WASHINGTON: The Obama administration is pressing lawmakers to jump-start its signature healthcare and Wall Street reform efforts by including some of their elements in a spending bill that must pass in coming weeks, according to documents obtained by Reuters.

Reuters said on Wednesday, Sept 15 the administration has also asked Congress to continue economic stimulus efforts and add other initiatives costing tens of billions of dollars to the bill, which Congress needs to pass by Oct. 1 to avoid a shutdown of government operations.

If successful, the tactic could allow Democrats to pass several items that have fallen victim to congressional gridlock before the Nov. 2 elections in which Republicans could win control of the House of Representatives and perhaps the Senate.

Republicans say the move amounts to an end run around Congress by attaching controversial measures to noncontroversial legislation. They estimate the additional spending could total between $20 billion and $30 billion.

"We are concerned that the administration is proposing that the (bill) be used as a catch-all to carry expensive and controversial legislation that has not otherwise been able to garner the approval of Congress," Republican members of the House Appropriations Committee said in a letter.

Democratic aides cautioned that no final decisions had been made about what to include in the spending bill, which has yet to be unveiled to the public.

According to documents circulating on Capitol Hill, the administration is asking Congress to increase the budgets of the Treasury Department and the Securities and Exchange Commission to allow them to begin staffing up to implement the Dodd-Frank financial reform law passed in July.

The administration is also asking for $250 million to train more doctors, nurses and other healthcare workers to handle the anticipated increase in patients who will be covered by the healthcare reform law passed in March.

Republicans have said they will try to repeal both bills if they win control of Congress.

The administration is also aiming to preserve several programs included in the 2009 economic stimulus package, another top target of Republicans.

White House officials call for money to preserve new jobs in the Social Security Administration created by the stimulus, funding for the Race to the Top education program and elevated levels of funding for the TANF welfare program for needy families. They are also seeking to extend the higher levels of college student aid contained in the stimulus.

CONGRESS LAGS ON SPENDING BILLS

Congress needs to pass the temporary spending bill before the new fiscal year starts on Oct. 1 because it has not completed work on any of the 12 regular spending bills that fund government operations.

The temporary spending bill, known as a "continuing resolution," typically funds government operations at their existing levels for several weeks or months while lawmakers finish work on the regular spending bills.

During that time, federal agencies like the Defense Department often must delay planned initiatives until lawmakers finish their work.

The Obama administration hopes to avoid that fate this year.

In past years, the temporary funding bill has often been relatively noncontroversial. A monthlong extension in 2009, for example, increased spending for veterans and gave the Census Bureau more money to prepare for its once-in-a-decade population count, adding roughly $640 million to the total cost.

In addition to money for the stimulus and the reform efforts, the administration also hopes this year's funding bill will include settlements for two decades-old court cases that have stalled in Congress.

Black farmers are awaiting $1.15 billion from a historic civil-rights settlement in February for being left out of farm-assistance programs due to racism, while American Indians are waiting for $3.4 billion to close out a class-action suit for mismanagement of trust funds.

The administration has also requested $5.5 billion for the Postal Service's retirement fund.

Petra Perdana rights shares fixed at 59 sen

KUALA LUMPUR: PETRA PERDANA BHD []'s renounceable rights issue of up to 122.76 million new 50 sen shares, of the basis of three rights shares for every eight shares held, has been fixed at 59 sen.

The corporate exercise, which includes one warrant for every two rights shares, included the fixing of the exercise price of the warrants at RM1 each. The entitlement date has been fixed on Oct 1.

Petra Perdana said on Wednesday, Sept 15 that CIMB Investment Bank Bhd and Hong Leong Investment Bank Bhd will be the joint underwriters. They will severally but not jointly underwrite 75.479 million rights shares which is about 61.49% of the total number of rights shares to be issued.

'Based on the issue price''and the entitlement basis, the rights issue will involve the issuance of 122.76 million rights shares and will raise gross proceeds of approximately RM72.43 million,' it said.

Petra Perdana said the issue price was a discount of 41% to the theoretical ex-rights price of Petra Perdana shares of RM1 based on the five-day volume-weighted average market price up to the date of this announcement of RM1.15 per share.

It said 61.38 million warrants would be issued to the shareholders and the gross proceeds to be raised would be RM61.38 million based on the exercise price.

The company said Shamsul Saad (being the managing director and a shareholder), Datuk Kho Poh Eng and Koh Pho Wat (executive directors and shareholders) have provided irrevocable undertakings to subscribe in full or procure the subscription in full for their respective entitlements of rights shares under the rights issue.

'The total rights shares which are subject to the undertakings is 14.35 million rights shares or approximately 11.69% of the total number of rights shares to be issued pursuant to the rights issue,' it said.

Petra Perdana said the corporate exercise would raise minimum gross proceeds of RM53 million.

The remaining balance of 32.929 million rights shares to raise gross proceeds of approximately RM19.43 million will not be underwritten.

Ivory Properties plans condo, shopping complex of RM368m GDV in Penang

KUALA LUMPUR: Ivory PROPERTIES [] Group Bhd plans to build residential condominiums and commercial complex with a with an estimated gross development value (GDV) of RM368 million on a proposed site in Tanjong Tokong, Penang island

Ivory said on Wednesday, Sept 15 this project followed its proposal to acquire an additional 847,059 shares representing 94.12% of Tanjong Tokong Garden Development Sdn Bhd (TTGD) for RM37.64 million.

Ivory said it currently owns 52,941 shares or about 5.88% in TTGD. The 94.12% stake would be acquired from the shareholders of TTGD.

TTG, it said, was the registered and beneficial owner of all several pieces of land in Bandar Tanjong Tokong. The land was about 600 ft from the main road and opposite Island Plaza shopping complex.

'The land offers a high potential development in light of its strategic location with roads and other infrastructure in place,' it said.

Ivory said it intended to develop the land under a proposed project named 'City Mall' consisting of approximately 175 units residential condominiums and commercial shopping complex with an estimated GDV of RM368 million'' and estimated gross development cost of RM173 million.

'The expected profit before tax to be derived from the development is RM154 million,' it said.

Ivory added that it had submitted plans to the relevant authority to develop the land and application for planning permission has been approved by the relevant authority.

The proposed development is expected to start in 2011 and complete in 2014.

FBM KLCI slightly lower on profit taking

KUALA LUMPUR:'' Share prices on Bursa Malaysia managed to recoup part of their losses to end slightly lower on Wednesday, Sept 15 following mild profit taking, mainly in financial stocks after two days of sharp rally, said a dealer.

At close, the FBM KLCI shed 1.49 points to 1,472.95 after opening 1.73 points lower at 1,472.71.

"The losses were capped as the overall market sentiment remained robust," he said, adding that after some cooling off, the market may move upwards again. The market is closed on Thursday for Malaysia Day celebrations.

OSK Research, in its note, said it was holding on to the year-end target of 1,465 and expected some profit-taking on the big caps towards year-end.

"We would recommend a gradual shift towards buying small caps over the next few months," said the research house.

It said the market's immediate resistance was now at the psychological 1,500-barrier, followed by the 1,524.69 level. Immediate support is at 1,457 followed by the 1,439 level.

The Finance Index fell 20.6 points to 13,359.07, the PLANTATION [] Index eased 27.65 points to 6,904.02 but the INDUSTRIAL INDEX [] added 0.27 of a point to 2,799.93.

The FBM Emas Index declined 12.24 points to 9,817.47, FBM70 [] was 8.79 points lower at 9,559.08 but the FBM Ace Index perked 14.01 points to 3,798.15.

Turnover dropped to 725.111 million shares worth RM1.436 billion from Tuesday's 1.04 billion shares worth RM2.127 billion.

Decliners outnumbered advancers by 416 to 299 while 301 counters were unchanged, 348 untraded and 40 others suspended. - Bernama