Friday 3 February 2012

KLCI pares down losses at mid-day, broader market stays weak

KUALA LUMPUR (Feb 3): The FBM KLCI pared down some its losses at the mid-day break on Friday, in line with the limited losses at key regional markets.

The FBM KLCI was down 0.24 of a point to 1,536.85 at the mid-day break.

The broader market was weaker with losers leading gainers by 449 to 298, while 335 counters traded unchanged. Volume was 1.32 billion shares valued at RM1.03 billion.

The ringgit weakened 0.13% to 3.0224 versus the US dollar; crude palm oil futures for the third month delivery was flat at RM3,050 per tonne, crude oil added 14 cents a barrel to US$96.50 while gold fell US$3.20 an ounce to US$1,756.27.

Hong Kong and China shares were weaker at midday in thin Friday trade, but losses on the benchmark indexes were limited by chart support levels with investors cautious ahead of fresh U.S. employment data later in the day, according to Reuters.

At the regional markets, Japan’s Nikkei 225 was down 0.14% to 8,864.48, Hong Kong’s Hang Seng Index shed 0.10% to 20,719.20, the Shanghai Composite Index was down 0.07% to 2,310.87, South Korea’s Kospi fell 0.87% to 1,966.95, while Singapore’s Straits Times Index rose 0.80% to 2,924.35 and Taiwan’s Taiex added 0.16% to 7,664.83.

On Bursa Malaysia, KLK fell 56 sen to RM25.04, Dutch Lady was down 36 sen to RM25.24, DKSH 20 sen to RM1.91, SapuraCrest and Genting shed 18 sen each to RM5 and RM10.98, F&N 16 sen to RM17.66, PPB 12 sen to RM17.08, Kamdar 10.5 sen to 37.5 sen, Toyo Ink nine sen to RM1.60 an d APM eight sen to RM4.50.

Gainers this morning included United PLANTATION []s, Tradewinds, MalPac, GAB, TDM, Sime Darby, BLD Plantations, Delloyd, BAT and Petronas Gas, while the actives included Nicorp, Mah Sing, JCY, DBE Gurney, Compugates, DRB-Hicom and Maxbiz.



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