Thursday, 19 April 2012

KLCI slips into the red at mid-day break

KUALA LUMPUR (April 19): The FBM KLCI gave up some ground to slip into negative territory at the mid-day break on Thursday, in line with the generally tepid sentiment at key regional markets.

Asian shares and the euro traded in tight ranges on Thursday ahead of a Spanish bond sale seen as a key test of investors' risk appetite amid renewed concerns over the euro zone's debt crisis, according to Reuters.

Meanwhile, U.S. stocks slipped on Wednesday, a day after Wall Street's best gains in a month, as uninspiring earnings from tech bellwethers IBM and Intel gave investors a reason to take profits, according to Reuters

The FBM KLCI fell 2.80 points to 1,596.06 at 12.30pm, weighed by losses at select blue chips including CIMB, KLK, Maybank and Genting.

Losers beat gainers by 358 to 221, while 311 counters traded unchanged. Volume was 1.02 billion shares valued at RM661.94 million.

The ringgit weakened 0.13% to 3.0686 versus the greenback, crude palm oil futures for the third month delivery fell RM30 per tonne to RM3,449, crude oil shed 11 cents per barrel to US$102.56 while gold lost US$4.50 an ounce to US$1,637.60.

At the regional markets, Japan’s Nikkei 225 fell 0.89% to 9,580.90, the Shanghai Composite Index down 0.14% to 2,377.57, Singapore’s Straits Times Index fell 0.08% to 2,998.17, south Korea’s Kospi lost 0.33% to 1,997.92, Taiwan’s Taiex edged down 0.01% to 7,604.367 while Hong Kong’s Hang Seng Index gained 0.36% to 20,856.40.

Among the major losers on Bursa Malaysia, Dutch Lady lost 38 sen to RM34.60, KLK 24 sen to RM23.96, Country View 21 sen to 61 sen, Tradewinds 16 sen to RM9.66, KESM and SAM Engineering down 12 sen each to RM2.06 and RM3.67, CSL 10 sen to RM1.68, Subur Tiasa eight sen to RM3 and Nice seven sen to 31 sen.

Meanwhile, CIMB lost three sen to RM7.64, Maybank and Genting down two sen each to M8.85 and RM10.80, and DiGi was down one sen to RM3.92.

Ariantec was the most actively traded counter with 143.99 million shares done. The stock was unchanged at 19 sen.

Other actives included Utopia, CSL, metronic, DBE Gurney, Compugates, Iris Corp and Astral Supreme.

Gainers included Can-One, Tan Chong, F&N, Pintaras, Jaya Tiasa, Bintulu Port, Aeon Credit, Utusan and GAB.

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