KUALA LUMPUR (Nov 15): The FBM KLCI stayed in negative territory at mid-morning on Tuesday, Nov 15 in line with the weaker regional investor sentiment after the overnight fall at Wall Street and European markets.
Asian shares fell on Tuesday, as a rise in euro zone bond yields reflected lingering doubts about the ability of politicians in Italy and Greece to push through painful reforms to resolve their debt crises and win market confidence, according to Reuters.
Financial market turmoil stemming from the euro zone sovereign debt crisis has taken a clear toll on the region's economy, putting a firm cap on the single currency against the dollar, it said.
The FBM KLCI was down 1.92 points to 1,476.95 at mid-morning.
Losers led gainers by 277 to 177, while 209 counters traded unchanged. Volume was 935.72 million shares valued at RM247.10 million.
At the regional markets, Hong Kong’s Hang Seng Index was down 0.59% to 19,394.00, Japan’s Nikkei 225 lost 0.42% to 8,567.58, South Korea’s Kospi fell 0.49% to 1,893.46, Taiwan’s Taiex declined 0.31% to 7,502.14 and Singapore’s Straits Times Index shed 0.06% to 2,828.36.
Meanwhile, the Shanghai Composite Index edged up 0.08% to 2,530.85.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients Nov 15 said that due to the US markets’ weak tone last night, there might be an initial decline for the local index, adding that some later nibbling activities could trim the fall in the afternoon session.
He said the Asian markets would gyrate wildly due to the weak tone for the overnight American markets.
“As such we advise clients to trade with a short-term time frame locally.
“It is unwise to join the recent penny stock activity as these stocks do not have any fundamentals and the companies are loss making. Take profits here swiftly,” he said.
On Bursa Malaysia, Degem was the top loser at mid-morning and fell 14.5 sen to 90.5 sen; Edaran lost 11.5 sen to 32 sen, SYF Resources fell 11 sen to 81 sen, Carlsberg and Ajinomoto eight sen each to RM7.01 and RM3.75, Bernas down seven sen to RM3.12, UMW and IOI Corp fell six sen each to RM6.70 and RM5.11, while Esso lost five sen to RM3.51.
DPS Resources was the most actively traded counter with 104.5 million shares done. The stock rose four sen to 35 sen.
Other actives included Tiger, DBE Gurney, PDZ, Sinotop, Scan Associates, CME and NextNation.
Among the gainers, DiGi added 74 sen to RM35.26, Amway 18 sen to RM8.98, Sunchirin 14 sen to RM1.49, Petronas Dagangan and Kulim 12 sen each to RM16.26 and RM3.59, Proton 10 sen to RM2.80, while F&N and Coastal added eight sen each to RM17.46 and RM2.01.
Asian shares fell on Tuesday, as a rise in euro zone bond yields reflected lingering doubts about the ability of politicians in Italy and Greece to push through painful reforms to resolve their debt crises and win market confidence, according to Reuters.
Financial market turmoil stemming from the euro zone sovereign debt crisis has taken a clear toll on the region's economy, putting a firm cap on the single currency against the dollar, it said.
The FBM KLCI was down 1.92 points to 1,476.95 at mid-morning.
Losers led gainers by 277 to 177, while 209 counters traded unchanged. Volume was 935.72 million shares valued at RM247.10 million.
At the regional markets, Hong Kong’s Hang Seng Index was down 0.59% to 19,394.00, Japan’s Nikkei 225 lost 0.42% to 8,567.58, South Korea’s Kospi fell 0.49% to 1,893.46, Taiwan’s Taiex declined 0.31% to 7,502.14 and Singapore’s Straits Times Index shed 0.06% to 2,828.36.
Meanwhile, the Shanghai Composite Index edged up 0.08% to 2,530.85.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients Nov 15 said that due to the US markets’ weak tone last night, there might be an initial decline for the local index, adding that some later nibbling activities could trim the fall in the afternoon session.
He said the Asian markets would gyrate wildly due to the weak tone for the overnight American markets.
“As such we advise clients to trade with a short-term time frame locally.
“It is unwise to join the recent penny stock activity as these stocks do not have any fundamentals and the companies are loss making. Take profits here swiftly,” he said.
On Bursa Malaysia, Degem was the top loser at mid-morning and fell 14.5 sen to 90.5 sen; Edaran lost 11.5 sen to 32 sen, SYF Resources fell 11 sen to 81 sen, Carlsberg and Ajinomoto eight sen each to RM7.01 and RM3.75, Bernas down seven sen to RM3.12, UMW and IOI Corp fell six sen each to RM6.70 and RM5.11, while Esso lost five sen to RM3.51.
DPS Resources was the most actively traded counter with 104.5 million shares done. The stock rose four sen to 35 sen.
Other actives included Tiger, DBE Gurney, PDZ, Sinotop, Scan Associates, CME and NextNation.
Among the gainers, DiGi added 74 sen to RM35.26, Amway 18 sen to RM8.98, Sunchirin 14 sen to RM1.49, Petronas Dagangan and Kulim 12 sen each to RM16.26 and RM3.59, Proton 10 sen to RM2.80, while F&N and Coastal added eight sen each to RM17.46 and RM2.01.
