KUALA LUMPUR (March 21) : The FBM KLCI cut losses to leap back into positive territory towards lunch break as most Asian stock markets encountered a sell down on China economic growth concerns.
Regional sentiment was hit by updates on costlier retail energy in China and the anticipation of weaker demand in the world’s second largest economy for raw materials such as iron ore, the primary feedstock for steel manufacturing.
In Malaysia, the 30-stock FBM KLCI rose 0.68 point to 1,578.3 at 12.30pm with 1.83 billion shares worth some RM682 million traded. Across the exchange, there were 238 gainers versus 349 decliners while 330 stocks were unchanged.
The index had fallen as much as 0.3%or 4.45 points to an intraday low of 1,573.17 earlier.
Top gainer and most active stock METRONIC GLOBAL BHD [] added 18 sen to 29 sen followed by Genting PLANTATION []s Bhd which was up 11 sen to RM9.46.
Metronic said on Monday it was informed by its managing director Dr Ng Tek Che that he was approached by parties who are keen to acquire his 5.23% stake in the firm.
Decliners include ALLIANZ MALAYSIA BHD [] which lost 17 sen to RM4.70 while PPB GROUP BHD [] was down 16 sen to RM16.40.
Most Asian stockmarkets fell at midday. Japan’s Nikkei 225 declined 0.48% to 10,093.1 points, Australia’s S&P/ASX 200 was down 0.37% to 4,259, while Hong Kong’s Hang Seng lost 0.47% to 20,789.8
Regional sentiment was hit by updates on costlier retail energy in China and the anticipation of weaker demand in the world’s second largest economy for raw materials such as iron ore, the primary feedstock for steel manufacturing.
In Malaysia, the 30-stock FBM KLCI rose 0.68 point to 1,578.3 at 12.30pm with 1.83 billion shares worth some RM682 million traded. Across the exchange, there were 238 gainers versus 349 decliners while 330 stocks were unchanged.
The index had fallen as much as 0.3%or 4.45 points to an intraday low of 1,573.17 earlier.
Top gainer and most active stock METRONIC GLOBAL BHD [] added 18 sen to 29 sen followed by Genting PLANTATION []s Bhd which was up 11 sen to RM9.46.
Metronic said on Monday it was informed by its managing director Dr Ng Tek Che that he was approached by parties who are keen to acquire his 5.23% stake in the firm.
Decliners include ALLIANZ MALAYSIA BHD [] which lost 17 sen to RM4.70 while PPB GROUP BHD [] was down 16 sen to RM16.40.
Most Asian stockmarkets fell at midday. Japan’s Nikkei 225 declined 0.48% to 10,093.1 points, Australia’s S&P/ASX 200 was down 0.37% to 4,259, while Hong Kong’s Hang Seng lost 0.47% to 20,789.8
