KUALA LUMPUR (Feb 16): Selling of Tenaga, Sime Darby and banking stocks dragged the FBM KLCI into the red at midday on Thursday, as investors turned cautious over the delay in the bailout for Greece.
At 12.30pm, the FBM KLCI fell 11.39 points or 0.73% to 1,549.91. Turnover was 1.16 billion shares valued at RM802.26 million. The broader market was weaker with 590 losers to 164 gainers and 285 stocks unchanged.
Reuters reported that another delay in cementing a crucial bailout for stricken Greece underscored how far Europe is from resolving a debt crisis that threatens the stability of the financial system.
A three-hour teleconference between euro zone finance ministers failed to resolve all the issues surrounding a second aid package for Athens, putting off any decision on the matter until Monday at the earliest.
Among the regional markets, Japan’s Nikkei 225 fell 1.4% to 9,258.94, Hong Kong’s Hang Seng Index 0.6% to 21,235.90, Shanghai’s Composite Index 0.18% to 2,362.46 while Taiwan’s Taiex lost 1.19% to 7,910.24 and South Korea’s Kospi 1.12% to 2,002.73. Singapore’s Straits Times shed 0.6% to 2,993.56.
The ringgit weakened against the US dollar to the lowest since Jan 31 at 3.0565 to the greenback. US light crude oil fell 28 cents to US$101.52.
Among the index-linked stocks, Tenaga fell 12 sen to RM6.01, dragging the KLCI down 1.54 points, Sime Darby 9.0 sen to RM9.52, pushing the index down by another 1.28 points.
Hong Leong Bank 14 sen to RM11.48, Public Bank fell 10 sen to RM13.66, CIMB six sen to RM7.24 and Maybank two sen to RM8.51.
Crude palm oil for third month futures fell RM19 to RM3,182 per tonne, which also weighed on PLANTATION []s, with KLK down 52 sen to RM24.86.
Petronas Dagangan lost 38 sen to RM17.84, Petronas Gas 34 sen to RM16.30 and MMHE 12 sen to RM5.45.
Naim Indah regained its footing to climb seven sen to 59 sen and it was the most active with 116.77 million shares done.
Dialog-WA jumped for the second day after it was listed, surging 30 sen to 64.5 sen. Cypark added seven sen to RM1.70. The company expects its solar farming segment to be the main contributor to its profit when its 80ha integrated renewable energy plant becomes operational next month.
Amway’s strong earnings and dividend plan sent the share price up 11 sen to RM9.91.
At 12.30pm, the FBM KLCI fell 11.39 points or 0.73% to 1,549.91. Turnover was 1.16 billion shares valued at RM802.26 million. The broader market was weaker with 590 losers to 164 gainers and 285 stocks unchanged.
Reuters reported that another delay in cementing a crucial bailout for stricken Greece underscored how far Europe is from resolving a debt crisis that threatens the stability of the financial system.
A three-hour teleconference between euro zone finance ministers failed to resolve all the issues surrounding a second aid package for Athens, putting off any decision on the matter until Monday at the earliest.
Among the regional markets, Japan’s Nikkei 225 fell 1.4% to 9,258.94, Hong Kong’s Hang Seng Index 0.6% to 21,235.90, Shanghai’s Composite Index 0.18% to 2,362.46 while Taiwan’s Taiex lost 1.19% to 7,910.24 and South Korea’s Kospi 1.12% to 2,002.73. Singapore’s Straits Times shed 0.6% to 2,993.56.
The ringgit weakened against the US dollar to the lowest since Jan 31 at 3.0565 to the greenback. US light crude oil fell 28 cents to US$101.52.
Among the index-linked stocks, Tenaga fell 12 sen to RM6.01, dragging the KLCI down 1.54 points, Sime Darby 9.0 sen to RM9.52, pushing the index down by another 1.28 points.
Hong Leong Bank 14 sen to RM11.48, Public Bank fell 10 sen to RM13.66, CIMB six sen to RM7.24 and Maybank two sen to RM8.51.
Crude palm oil for third month futures fell RM19 to RM3,182 per tonne, which also weighed on PLANTATION []s, with KLK down 52 sen to RM24.86.
Petronas Dagangan lost 38 sen to RM17.84, Petronas Gas 34 sen to RM16.30 and MMHE 12 sen to RM5.45.
Naim Indah regained its footing to climb seven sen to 59 sen and it was the most active with 116.77 million shares done.
Dialog-WA jumped for the second day after it was listed, surging 30 sen to 64.5 sen. Cypark added seven sen to RM1.70. The company expects its solar farming segment to be the main contributor to its profit when its 80ha integrated renewable energy plant becomes operational next month.
Amway’s strong earnings and dividend plan sent the share price up 11 sen to RM9.91.
