KUALA LUMPUR (Jan 18): Blue chips closed slightly lower on Wednesday, weighed down by declines in heavyweights Tenaga and MMHE but the broader market was mixed, with strong trading interest in small caps and penny stocks.
At 5pm, the FBM KLCI was down 1.98 points to 1,517.38. Turnover was 1.49 billion shares valued at RM1.60 billion. There were 368 gainers, 364 losers and 359 stocks unchanged.
Among key regional markets, Japan’s Nikkei 225 rose 0.99% to 8,550.58, Hong Kong’s Hang Seng Index added 0.30% at 19,686.92 but South Korea’s Kospi shed 0.02% to 1,892.39 and Singapore’s Straits Times Index fell 0.79% to 2,793.53.
European markets were in the red as investors were worried about Greek bond talks and government debt sales, a day after economic data had raised hopes the global economy wouldn't slowdown as much as feared.
Reuters reported international creditors are set to meet the Greek government to resume the talks that broke down last week over the interest rate Greece will offer on new bonds and a plan to enforce investor losses. A deal with the private sector is vital to cash-strapped Athens if it is to avoid going bankrupt when 14.5 billion euros ($18.5 billion) of bond redemptions fall due in late March.
At Bursa Malaysia, the KLCI was trading between 1,513 and 1,519 and managed to close off its intra-day low of 1,513.
A fund manager said the markets had priced in the eurozone crisis and he expected to see more upside for the markets, albeit intermittent swings in trading conditions depending on the newsflow.
At Bursa Malaysia, he said there was some profit taking ahead of the Chinese New Year next week, especially on stocks which had run-up recently. He expected the market to hold steady at the current levels.
Among the heavyweights, Tenaga fell 13 sen to RM6.10 after reporting net losses in the first quarter ended Nov 30, 2011. MMHE shed 12 sen to RM5.32 on concerns about the uncertainties about its projects and delays.
Petronas Dagangan and Petronas Gas fell 10 sen each to RM17.40 and RM15.28.
EUPE was the top loser, down 14.5 sen to 48.5 sen, Ibraco 14 sen lower at RM1.30 and Ireka 12.5 sen to 66.5 sen in thin trade.
Poultry stock DBE was the most active with 138.96 million shares done, adding two sen to 11 sen while its warrants rose 1.5 sen to 6.5 sen.
BIMB, seen as the only Syriah-compliant banking stock, jumped 22 sen to RM2.24 in heavy trade with 10.21 million units done. BIMB-CB added 1.5 sen to 9.0 sen and BIMB-CC six sen to 17.5 sen. The two warrants accounted for 100 million units transacted.
At 5pm, the FBM KLCI was down 1.98 points to 1,517.38. Turnover was 1.49 billion shares valued at RM1.60 billion. There were 368 gainers, 364 losers and 359 stocks unchanged.
Among key regional markets, Japan’s Nikkei 225 rose 0.99% to 8,550.58, Hong Kong’s Hang Seng Index added 0.30% at 19,686.92 but South Korea’s Kospi shed 0.02% to 1,892.39 and Singapore’s Straits Times Index fell 0.79% to 2,793.53.
European markets were in the red as investors were worried about Greek bond talks and government debt sales, a day after economic data had raised hopes the global economy wouldn't slowdown as much as feared.
Reuters reported international creditors are set to meet the Greek government to resume the talks that broke down last week over the interest rate Greece will offer on new bonds and a plan to enforce investor losses. A deal with the private sector is vital to cash-strapped Athens if it is to avoid going bankrupt when 14.5 billion euros ($18.5 billion) of bond redemptions fall due in late March.
At Bursa Malaysia, the KLCI was trading between 1,513 and 1,519 and managed to close off its intra-day low of 1,513.
A fund manager said the markets had priced in the eurozone crisis and he expected to see more upside for the markets, albeit intermittent swings in trading conditions depending on the newsflow.
At Bursa Malaysia, he said there was some profit taking ahead of the Chinese New Year next week, especially on stocks which had run-up recently. He expected the market to hold steady at the current levels.
Among the heavyweights, Tenaga fell 13 sen to RM6.10 after reporting net losses in the first quarter ended Nov 30, 2011. MMHE shed 12 sen to RM5.32 on concerns about the uncertainties about its projects and delays.
Petronas Dagangan and Petronas Gas fell 10 sen each to RM17.40 and RM15.28.
EUPE was the top loser, down 14.5 sen to 48.5 sen, Ibraco 14 sen lower at RM1.30 and Ireka 12.5 sen to 66.5 sen in thin trade.
Poultry stock DBE was the most active with 138.96 million shares done, adding two sen to 11 sen while its warrants rose 1.5 sen to 6.5 sen.
BIMB, seen as the only Syriah-compliant banking stock, jumped 22 sen to RM2.24 in heavy trade with 10.21 million units done. BIMB-CB added 1.5 sen to 9.0 sen and BIMB-CC six sen to 17.5 sen. The two warrants accounted for 100 million units transacted.
