Monday, 16 April 2012

KLCI edges down in early trade on external woes

KUALA LUMPUR (April 16): The FBM KLCI fell in early trade on Monday, in line with the weaker sentiment at regional markets on fresh concerns over the euro zone debt crisis.

The FBMKLCI opened 0.70 of a point lower at 1,602.42, weighed by select blue chips including HLFG, Genting, RHB Capital and Petronas Chemicals.

Gainers led losers by 58 to 41, while 95 counters traded unchanged. Volume was 14.98 million shares valued at RM5.46 million.

Meanwhile, Asian shares eased on Monday as a surge in Spanish government bond yields renewed concerns about the euro zone's sovereign debt crisis and undermined investor confidence in riskier assets, according to Reuters.

European and U.S. shares fell on Friday, led by the banking sector, pushing U.S. indices to their biggest two-week percentage drops since late November. The Dow Jones industrial average and the S&P 500 each fell 2.7 percent for the two weeks from March 30, it said.

Among the early decliners on Bursa Malaysia were HLFG, Genting, Hibiscus, RHB Capital, IOI Corp, Old Town, MAS, KNM, OSK and Petronas Chemicals.

Gainers included Jaua Tiasa, Eversendai, Zhulian, Kumpulan Europlus BIMB, P.I.E., S P Setia, Supermax and TH PLANTATION []s.

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