KUALA LUMPUR (Nov 2): Investors saw their hopes for a November rally evaporate after Greece's surprise call for a referendum on a European bailout with regional markets falling up to 1.6% at midday on Wednesday.
At 12.30pm, the FBM KLCI was down 11.08 points to 1,464.56. Turnover was 652.31 million shares valued at RM750.32 million. Losers beat gainers three to one with 470 decliners to 151 advancers and 245 stocks unchanged.
The ringgit weakened further against the US dollar to RM3.1293, US light crude oil fell 67 cents to US$91.52 while Brent crude lost 59 cents to US$108.95 a barrel. The prices rose 6.6% in October. However, crude palm oil third-month futures rose RM12 to RM2,932 a tonne
Japan’s Nikkei 225 fell 1.6% to 8,694.30, Hong Kong’s Hang Seng Index slipped 0.92% to 19,192.72, Shanghai’s Composite Index 1% to 2,445.40 but Singapore’s Straits Times Index bucked the gloomy market sentiment, eking out a gain of 0.48% to 2,802.73.
Meanwhile, Reuters reported that Bank of Japan board member Sayuri Shirai warned that global financial markets are likely to remain under intense strain as there is little chance that Europe's debt problems will be resolved soon.
Shirai said she was particularly mindful of the risk that Europe's deepening debt woes would hurt Japan's economy by spurring further gains in the yen and falls in stock prices as global investors flee to safer assets.
At Bursa Malaysia, banks were among the major decliners and also GENTING BHD []. CIMB fell 19 sen to RM7.30, dragging the KLCI down 3.27 points, Maybank lost nine sen to RM8.28 and AMMB 11 sen to RM5.83.
Genting’s decline of 22 sen dragged the index down 1.88points and Petronas Chemicals 16 sen fall to RM6.21 pushed the index down by another 1.58 points. Other index stocks which fell were Petronas Chemicals, down 16 sen to RM6.21, Axiata two sen to RM4.85 while among PLANTATION []s-related counters, Sime fell six sen to RM8.79 and IOI five sen to RM5.04.
Genting Malaysia rose 10 sen to RM3.79 as investors were upbeat about its outlook after the huge turnout on the opening of Genting Malaysia’s New York casino.
Nestle fell 80 sen to RM49.60, Panasonic Malaysia 36 sen t RM19.10, Dutch Lady 34 sen to RM19.80 and Carlsberg 18 sen to RM6.85.
However, BAT was up 42 sen to RM46, DiGi 38 sen to RM32.08 and SapuraCrest seven sen to RM4.07.
At 12.30pm, the FBM KLCI was down 11.08 points to 1,464.56. Turnover was 652.31 million shares valued at RM750.32 million. Losers beat gainers three to one with 470 decliners to 151 advancers and 245 stocks unchanged.
The ringgit weakened further against the US dollar to RM3.1293, US light crude oil fell 67 cents to US$91.52 while Brent crude lost 59 cents to US$108.95 a barrel. The prices rose 6.6% in October. However, crude palm oil third-month futures rose RM12 to RM2,932 a tonne
Japan’s Nikkei 225 fell 1.6% to 8,694.30, Hong Kong’s Hang Seng Index slipped 0.92% to 19,192.72, Shanghai’s Composite Index 1% to 2,445.40 but Singapore’s Straits Times Index bucked the gloomy market sentiment, eking out a gain of 0.48% to 2,802.73.
Meanwhile, Reuters reported that Bank of Japan board member Sayuri Shirai warned that global financial markets are likely to remain under intense strain as there is little chance that Europe's debt problems will be resolved soon.
Shirai said she was particularly mindful of the risk that Europe's deepening debt woes would hurt Japan's economy by spurring further gains in the yen and falls in stock prices as global investors flee to safer assets.
At Bursa Malaysia, banks were among the major decliners and also GENTING BHD []. CIMB fell 19 sen to RM7.30, dragging the KLCI down 3.27 points, Maybank lost nine sen to RM8.28 and AMMB 11 sen to RM5.83.
Genting’s decline of 22 sen dragged the index down 1.88points and Petronas Chemicals 16 sen fall to RM6.21 pushed the index down by another 1.58 points. Other index stocks which fell were Petronas Chemicals, down 16 sen to RM6.21, Axiata two sen to RM4.85 while among PLANTATION []s-related counters, Sime fell six sen to RM8.79 and IOI five sen to RM5.04.
Genting Malaysia rose 10 sen to RM3.79 as investors were upbeat about its outlook after the huge turnout on the opening of Genting Malaysia’s New York casino.
Nestle fell 80 sen to RM49.60, Panasonic Malaysia 36 sen t RM19.10, Dutch Lady 34 sen to RM19.80 and Carlsberg 18 sen to RM6.85.
However, BAT was up 42 sen to RM46, DiGi 38 sen to RM32.08 and SapuraCrest seven sen to RM4.07.
