KUALA LUMPUR (Nov 10): Heavy trading of penny stocks pushed the overall volume on Bursa Malaysia to multi-months high of 2.64 billion units on Thursday as traders switched in and out of stocks which had been under the radar screen of investors for months.
At the close, the FBM KLCI fell 16.99 points or 1.14% to 1,472.65. Turnover was 2.64 billion shares valued at RM1.46 billion. There were 227 gainers, 568 losers and 212 stocks unchanged.
Other key regional markets fared worse, with Hong Kong shares down more than 5%, wiping out almost a week's gains, as Europe's escalating debt crisis and weak results from the likes of HSBC Holdings sent investors rushing for the exits, Reuters reported.
Financials bore the brunt of the sell-off, with Chinese banks under additional pressure after Goldman Sachs' sold parts of its stake in top lender Industrial & Commercial Bank of China .
The Hong Kong benchmark index ended 5.3% lower or down 1,050.54 points to 18,963.89, while the Shanghai Composite fell 1.8% to 2,480. The Nikkei 225 lost 2.91% to 8,500.80, South Korea’s Kospi 4.94% to 1,813.25 and Singapore’s Straits Times Index 2.51% lower at 2,786.90.
At Bursa Malaysia, Genting fell 32 sen to RM10.68, dragging the KLCI down 2.74 points while IOI lost 12 sen to RM5.05, pushing the index down 1.78 points.
Nestle and BAT fell 50 sen each to RM49 and RM46.10 while KLK and Genting lost 32 sen each to Rm20.82 and RM10.68. PPB declined 30 sen to RM16.84, United PLANTATION []s 28 sen to RM17.60.
MISC fell 17 sen to RM6.78, Tenaga 13 sen to RM5.79 and CIMB 10 sen to RM7.26 while Petronas Chemicals shed nine sen to RM6.39 and Sime six sen to RM8.86.
Among the penny stocks, Patimas rose two sen to 7.5 sen with 106.91 million shares done in the absence of any corporate developments. Sumatec added 5.5 sen to 19.5 sen and the warrants 5.5 sen to 14 sen while SAAG edged up five sen to eight sen.
At the close, the FBM KLCI fell 16.99 points or 1.14% to 1,472.65. Turnover was 2.64 billion shares valued at RM1.46 billion. There were 227 gainers, 568 losers and 212 stocks unchanged.
Other key regional markets fared worse, with Hong Kong shares down more than 5%, wiping out almost a week's gains, as Europe's escalating debt crisis and weak results from the likes of HSBC Holdings sent investors rushing for the exits, Reuters reported.
Financials bore the brunt of the sell-off, with Chinese banks under additional pressure after Goldman Sachs' sold parts of its stake in top lender Industrial & Commercial Bank of China .
The Hong Kong benchmark index ended 5.3% lower or down 1,050.54 points to 18,963.89, while the Shanghai Composite fell 1.8% to 2,480. The Nikkei 225 lost 2.91% to 8,500.80, South Korea’s Kospi 4.94% to 1,813.25 and Singapore’s Straits Times Index 2.51% lower at 2,786.90.
At Bursa Malaysia, Genting fell 32 sen to RM10.68, dragging the KLCI down 2.74 points while IOI lost 12 sen to RM5.05, pushing the index down 1.78 points.
Nestle and BAT fell 50 sen each to RM49 and RM46.10 while KLK and Genting lost 32 sen each to Rm20.82 and RM10.68. PPB declined 30 sen to RM16.84, United PLANTATION []s 28 sen to RM17.60.
MISC fell 17 sen to RM6.78, Tenaga 13 sen to RM5.79 and CIMB 10 sen to RM7.26 while Petronas Chemicals shed nine sen to RM6.39 and Sime six sen to RM8.86.
Among the penny stocks, Patimas rose two sen to 7.5 sen with 106.91 million shares done in the absence of any corporate developments. Sumatec added 5.5 sen to 19.5 sen and the warrants 5.5 sen to 14 sen while SAAG edged up five sen to eight sen.
