KUALA LUMPUR (Feb 21): The Malaysian market slipped in directionless trade on Tuesday morning as investors stayed on the sidelines but the positive news that euro zone finance ministers sealed a second bailout for debt-laden Greece could provide some lift to sentiment.
At 12.30pm, the FBM KLCI fell 0.98 of a point to 1,559.59. Turnover was 913.22 million shares valued at RM649.72 million. Declining stocks beat advancers 431 to 236 while 342 stocks were unchanged.
All key regional markets were in the red. Japan’s Nikkei 225 fell 0.3% to 9,456.70, Hong Kong’s Hang Seng Index 0.47% to 21,323.90, Shanghai’s Composite Index 0.37% to 2,354.74, Taiwan’s Taiex 0.61% to 7,906.50, South Korea’s Kospi 0.75% to 2,009.66 and Singapore’s Straits Times Index 0.14% to 3,016.82.
Brent fell 6 cents to US$119.99 while US light crude oil rose US$1.59 to US$104.83. The ringgit was nearly unchanged against the US dollar at 3.0214. Crude palm oil futures fell RM4 to RM3,241 per tonne.
Reuters reported euro zone officials as saying that the finance ministers had nailed measures to cut Greece's debt to around 121% of gross domestic product by 2020, close to their original target of 120, after negotiators for private bondholders offered to accept a bigger loss to help plug the funding gap.
It reported that agreement on a 130-billion-euro rescue package with strict conditions attached will help draw a line under months of uncertainty that has shaken the currency bloc, and avert an imminent Greek bankruptcy.
At Bursa Malaysia, BAT was the top loser, down 94 sen to RM52.96 as it gave up most of Monday’s gains of RM1.38.
Esso fell 11 sen to RM3.65 after posting lower earnings. Nestle and Top Glove fell 10 sen each to RM55.90 and RM4.82.
Penny stock Widetec fell 25 sen to 41 sen but with only 2,000 shares done.
Naim Indah Corp was the most active with 67.43 million shares done, adding 2.5 sen to 50 sen.
PLANTATION []s were among the major gainers. United Plantations was the top gainer, rising 60 sen to RM23.36 after posating a strong set of results while BLD Plantations added 21 sen to RM10.04, Sarawak Plantations 14 sen to RM3.06.
Market expectations of bumper dividends from Maxis saw the share price crossing RM6, up 21 sen to RM6.02 in many months.
At 12.30pm, the FBM KLCI fell 0.98 of a point to 1,559.59. Turnover was 913.22 million shares valued at RM649.72 million. Declining stocks beat advancers 431 to 236 while 342 stocks were unchanged.
All key regional markets were in the red. Japan’s Nikkei 225 fell 0.3% to 9,456.70, Hong Kong’s Hang Seng Index 0.47% to 21,323.90, Shanghai’s Composite Index 0.37% to 2,354.74, Taiwan’s Taiex 0.61% to 7,906.50, South Korea’s Kospi 0.75% to 2,009.66 and Singapore’s Straits Times Index 0.14% to 3,016.82.
Brent fell 6 cents to US$119.99 while US light crude oil rose US$1.59 to US$104.83. The ringgit was nearly unchanged against the US dollar at 3.0214. Crude palm oil futures fell RM4 to RM3,241 per tonne.
Reuters reported euro zone officials as saying that the finance ministers had nailed measures to cut Greece's debt to around 121% of gross domestic product by 2020, close to their original target of 120, after negotiators for private bondholders offered to accept a bigger loss to help plug the funding gap.
It reported that agreement on a 130-billion-euro rescue package with strict conditions attached will help draw a line under months of uncertainty that has shaken the currency bloc, and avert an imminent Greek bankruptcy.
At Bursa Malaysia, BAT was the top loser, down 94 sen to RM52.96 as it gave up most of Monday’s gains of RM1.38.
Esso fell 11 sen to RM3.65 after posting lower earnings. Nestle and Top Glove fell 10 sen each to RM55.90 and RM4.82.
Penny stock Widetec fell 25 sen to 41 sen but with only 2,000 shares done.
Naim Indah Corp was the most active with 67.43 million shares done, adding 2.5 sen to 50 sen.
PLANTATION []s were among the major gainers. United Plantations was the top gainer, rising 60 sen to RM23.36 after posating a strong set of results while BLD Plantations added 21 sen to RM10.04, Sarawak Plantations 14 sen to RM3.06.
Market expectations of bumper dividends from Maxis saw the share price crossing RM6, up 21 sen to RM6.02 in many months.
