KUALA LUMPUR (March 15): Malaysian equities pared earlier gains at lunch break on Thursday dragged down by China’s economic growth concerns.
PLANTATION [] stocks had earlier lifted the FBM KLCI by as much as 3.74 points or 0.2% but mild profit taking erased the gains.
At 12.30pm, the KLCI was just up 0.09 of a point to 1,575.80. Across the local bourse, about 662 million shares worth RM697 million changed hands. The broader market was cautious, with 368 decliners to 228 advancers while 343 stocks were unchanged.
Asian indices hit by less optimistic sentiments in China include Hong Kong’s Hang Seng which lost 0.11% to 21,284.7 while the Shanghai Composite retreated 0.12% to 2,388.26. Singapore’s Straits Times Index fell 0.14% to 3,022.02 but Japan’s Nikkei 225 managed to eke out a 0.92% gain to 10,142.81.
China’s outgoing premier Wen Jiabao said on Wednesday that measures to curb property speculation must be maintained to prevent a real estate bubble which will be detrimental to the country’s economy. Wen’s comments had reversed gains across China stock markets, resulting in major indices finishing in the red.
On Thursday, the Commerce Ministry announced that China’s foreign direct investment fell 0.9% to US$7.7 billion in February from a year earlier.
At Bursa Malaysia, plantation heavyweight SIME DARBY BHD [] rose seven sen to RM9.78 as crude palm oil futures climbed above RM3,400 a tonne. This followed updates from Intertek that Malaysian palm oil exports increased 37% to 697,804 tonnes in the first 15 days of March, according to wire reports.
However, Far East fell 38 sen to RM7.22, PPB 18 sen lower at RM16.80 and Batu Kawan 16 sen to RM18.52.
Top gainers Aeon Credit added 40 sen to RM8.75 while Yeo Hiap Seng was up 16 sen to RM2.62. F&N rose 12 sen to RM18.12.
Among the banks, RHB Cap added 10 sen to RM7.92 and CIMB eight sen to RM7.48.
Most active was Tiger Synergy Bhd which added one sen to 16 sen with some 62 million shares done .
PLANTATION [] stocks had earlier lifted the FBM KLCI by as much as 3.74 points or 0.2% but mild profit taking erased the gains.
At 12.30pm, the KLCI was just up 0.09 of a point to 1,575.80. Across the local bourse, about 662 million shares worth RM697 million changed hands. The broader market was cautious, with 368 decliners to 228 advancers while 343 stocks were unchanged.
Asian indices hit by less optimistic sentiments in China include Hong Kong’s Hang Seng which lost 0.11% to 21,284.7 while the Shanghai Composite retreated 0.12% to 2,388.26. Singapore’s Straits Times Index fell 0.14% to 3,022.02 but Japan’s Nikkei 225 managed to eke out a 0.92% gain to 10,142.81.
China’s outgoing premier Wen Jiabao said on Wednesday that measures to curb property speculation must be maintained to prevent a real estate bubble which will be detrimental to the country’s economy. Wen’s comments had reversed gains across China stock markets, resulting in major indices finishing in the red.
On Thursday, the Commerce Ministry announced that China’s foreign direct investment fell 0.9% to US$7.7 billion in February from a year earlier.
At Bursa Malaysia, plantation heavyweight SIME DARBY BHD [] rose seven sen to RM9.78 as crude palm oil futures climbed above RM3,400 a tonne. This followed updates from Intertek that Malaysian palm oil exports increased 37% to 697,804 tonnes in the first 15 days of March, according to wire reports.
However, Far East fell 38 sen to RM7.22, PPB 18 sen lower at RM16.80 and Batu Kawan 16 sen to RM18.52.
Top gainers Aeon Credit added 40 sen to RM8.75 while Yeo Hiap Seng was up 16 sen to RM2.62. F&N rose 12 sen to RM18.12.
Among the banks, RHB Cap added 10 sen to RM7.92 and CIMB eight sen to RM7.48.
Most active was Tiger Synergy Bhd which added one sen to 16 sen with some 62 million shares done .
