KUALA LUMPUR (Dec 13): The FBM KLCI narrowed its losses on Tuesday, but investor sentiment across the region remained jittery as the Eurozone debt crisis and fear of credit downgrades in that region kept investors on the sidelines.
The FBM KLCI close 1.71 points lower at 1,465.39. The index had earlier fallen to its intra-morning low of 1,457.31.
Losers edged gainers by 386 to 344, while 315 counters traded unchanged. Volume was 1.83 billion shares valued at RM1.39 billion.
Meanwhile, European shares rose on Tuesday as investors bought up beaten-down stocks following sharp falls on Monday after a plan outlined at last week's EU summit for stricter budget rules failed to ease worries about the region's debt crisis, according to Reuters.
Gains, however, are likely to be short-lived on concern about credit downgrades after Moody's Investors Service said its ratings for all EU member states would be reviewed in the first quarter of 2012 as well as eight Spanish banks, it said.
Also, market activity is likely to be subdued ahead of the release of US retail sales for November due out later and the outcome of the Federal Reserve's FOMC meeting, though no change in U.S. interest rates is expected, it said.
At the regional markets, the Shanghai Composite Index fell 1.87% to 2,248.59, South Korea’s Kospi lost 1.88% to 1,864.06, Japan’s Nikkei was down 1.17% to 3,292.79, Taiwan’s Taiex lost 0.76% to 6,896.31, Hong Kong’s Hang Seng Index fell 0.69% to 18,447.17 and Singapore’s Straits Times Index.
On Bursa Malaysia, JobStreet was the top loser and fell 28 sen to RM2.50; PPB lost 24 sen to RM16.36, NSOP down 20 sen to RM5.36, Genting 19 sen to RM10.64, Guan Chong 15 sen to RM2.15, DKSH 14 sen to RM1.59, Sungei Bagan and Genting PLANTATION []s 13 sen each to RM2.82 and RM8.15, while MISC was down 12 sen to RM5.48.
Sanichi was the most actively traded counter with 170.3 million shares done. The stock added 5.5 sen to 23 sen.
Other actives included Utopia, Proton, warrants of MAS, BIMB, MBSB and Affin respectively.
Among the gainers, BAT added RM1.50 to RM48.70, GAB and KLK up 70 sen each to RM12.98 and RM23.10, Dutch Lady 42 sen to RM26.40, HLFG 38 sen to RM11.70, Carlsberg 31 sen to RM8.46, Orient 29 sen to RM5.30, JT International 24 sen to RM6.92, F&N 22 sen to RM18.22 and Petronas Dagangan 20 sen to RM17.38.
The FBM KLCI close 1.71 points lower at 1,465.39. The index had earlier fallen to its intra-morning low of 1,457.31.
Losers edged gainers by 386 to 344, while 315 counters traded unchanged. Volume was 1.83 billion shares valued at RM1.39 billion.
Meanwhile, European shares rose on Tuesday as investors bought up beaten-down stocks following sharp falls on Monday after a plan outlined at last week's EU summit for stricter budget rules failed to ease worries about the region's debt crisis, according to Reuters.
Gains, however, are likely to be short-lived on concern about credit downgrades after Moody's Investors Service said its ratings for all EU member states would be reviewed in the first quarter of 2012 as well as eight Spanish banks, it said.
Also, market activity is likely to be subdued ahead of the release of US retail sales for November due out later and the outcome of the Federal Reserve's FOMC meeting, though no change in U.S. interest rates is expected, it said.
At the regional markets, the Shanghai Composite Index fell 1.87% to 2,248.59, South Korea’s Kospi lost 1.88% to 1,864.06, Japan’s Nikkei was down 1.17% to 3,292.79, Taiwan’s Taiex lost 0.76% to 6,896.31, Hong Kong’s Hang Seng Index fell 0.69% to 18,447.17 and Singapore’s Straits Times Index.
On Bursa Malaysia, JobStreet was the top loser and fell 28 sen to RM2.50; PPB lost 24 sen to RM16.36, NSOP down 20 sen to RM5.36, Genting 19 sen to RM10.64, Guan Chong 15 sen to RM2.15, DKSH 14 sen to RM1.59, Sungei Bagan and Genting PLANTATION []s 13 sen each to RM2.82 and RM8.15, while MISC was down 12 sen to RM5.48.
Sanichi was the most actively traded counter with 170.3 million shares done. The stock added 5.5 sen to 23 sen.
Other actives included Utopia, Proton, warrants of MAS, BIMB, MBSB and Affin respectively.
Among the gainers, BAT added RM1.50 to RM48.70, GAB and KLK up 70 sen each to RM12.98 and RM23.10, Dutch Lady 42 sen to RM26.40, HLFG 38 sen to RM11.70, Carlsberg 31 sen to RM8.46, Orient 29 sen to RM5.30, JT International 24 sen to RM6.92, F&N 22 sen to RM18.22 and Petronas Dagangan 20 sen to RM17.38.
