KUALA LUMPUR (March 7): All key regional market fell in the morning session on Wednesday, extending their losses from the previous day on renewed uncertainty over Greece's bailout and mounting worries about slowing global economies.
At 12.30pm, the FBM KLCI staged a correction, falling 12.98 points or 0.82% to 1,576.93. Turnover was 941.31 million shares valued at RM939.97 million. Losers beat gainers 515 to 158 while 262 counters were unchanged.
Japan’s Nikkei 225 lost 0.81% to 9,559.45, Hong Kong’s Hang Seng Index fell 0.75% to 20,649.46, Taiwan’s Taiex 0.37% to 7,908.40, South Korea’s Kospi 0.81% to 1,984.25 and Singapore’s Straits Times Index 0.58% to 2,914.97.
US light crude oil rose 43 cents to US$105.13 while crude palm oil futures fell RM9 to RM3,233 per tonne. The ringgit weakened to RM3.0288 against the US dollar.
BIMB Securities Research said it had expected the overnight fall on Wall Street to cause some negative knee-jerk reactions “but (we) see this as a very good opportunity to accumulate on weakness”.
Dealers said retail participation in the market had been low, with traders punting on lower liners and speculative counters. They added local funds were mostly the bigger players in the trading of blue chips and big cap stocks.
CIMB was the biggest drag on the KLCI. It fell 11 sen to RM7.31, pushing the index down by 1.94 points.
HLFG fell the most, down 40 sen to RM12.10, Genting PLANTATION []s 20 sen to RM9.29, MISC 20 sen to RM5.40, Genting 18 sen to RM10.74 and PPB 14 sen to RM16.72.
Dijaya fell 12 sen to RM1.55 and the warrants five sen to 58 sen in active trade, but they were off their intra-morning lows.
Naim Indah was the most active with 204.60 million shares done, up 10.5 sen to 62.5 sen, bucking the weaker market. Silver Bird added five sen to 23.5 sen.
Among the gainers were Ta Ann, up nine sen to RM5.76 and Esso seven sen to RM3.69. Advanced Packaging rose 15 sen to RM1.40 and Iretex 13 sen to RM1.10.
At 12.30pm, the FBM KLCI staged a correction, falling 12.98 points or 0.82% to 1,576.93. Turnover was 941.31 million shares valued at RM939.97 million. Losers beat gainers 515 to 158 while 262 counters were unchanged.
Japan’s Nikkei 225 lost 0.81% to 9,559.45, Hong Kong’s Hang Seng Index fell 0.75% to 20,649.46, Taiwan’s Taiex 0.37% to 7,908.40, South Korea’s Kospi 0.81% to 1,984.25 and Singapore’s Straits Times Index 0.58% to 2,914.97.
US light crude oil rose 43 cents to US$105.13 while crude palm oil futures fell RM9 to RM3,233 per tonne. The ringgit weakened to RM3.0288 against the US dollar.
BIMB Securities Research said it had expected the overnight fall on Wall Street to cause some negative knee-jerk reactions “but (we) see this as a very good opportunity to accumulate on weakness”.
Dealers said retail participation in the market had been low, with traders punting on lower liners and speculative counters. They added local funds were mostly the bigger players in the trading of blue chips and big cap stocks.
CIMB was the biggest drag on the KLCI. It fell 11 sen to RM7.31, pushing the index down by 1.94 points.
HLFG fell the most, down 40 sen to RM12.10, Genting PLANTATION []s 20 sen to RM9.29, MISC 20 sen to RM5.40, Genting 18 sen to RM10.74 and PPB 14 sen to RM16.72.
Dijaya fell 12 sen to RM1.55 and the warrants five sen to 58 sen in active trade, but they were off their intra-morning lows.
Naim Indah was the most active with 204.60 million shares done, up 10.5 sen to 62.5 sen, bucking the weaker market. Silver Bird added five sen to 23.5 sen.
Among the gainers were Ta Ann, up nine sen to RM5.76 and Esso seven sen to RM3.69. Advanced Packaging rose 15 sen to RM1.40 and Iretex 13 sen to RM1.10.
