KUALA LUMPUR (April 4): The FBM KLCI snapped its winning streak on Wednesday and fell below the 1,600-point level, in line with the retreat at most global markets after on generally weaker sentiment at key regional markets following the overnight dip at Wall Street.
The FBM KLCI fell 7.36 points to close at 1,599.27, weighed by losses and banking and select blue chips.
"Stocks and the euro fell on Wednesday after the US Federal Reserve dimmed hopes for fresh asset-buying, further underlining its divergence with an embattled Europe that remains in crisis-fighting mode," according to Reuters.
Overnight minutes from the Fed's March meet showed less support for more quantitative easing (QE), or bond-buying, in the face of improved economic data, which buoyed the dollar and hit stocks in both the United States and Asia, it said.
With Europe still battling its debt crisis and struggling with economic growth, the focus later will be on the European Central Bank's latest rate-setting meeting, with rates expected to remain on hold at 1%, said Reuters.
At the regional markets, Japan’s Nikkei 225 fell 2.29% to 9,819.99, South Korea’s Kospi fell 1.60% to 2,018.61, and Taiwan’s Taiex lost 1.3% to 7,760.85, while Singapore’s Straits Times Index
The Hong Kong and Shanghai markets were closed for a public holiday.
On Bursa Malaysia, among the banking stocks, CIMB and RHB Capital lost nine sen each to RM7.72 and RM7.74, Hong Leong Bank and HLFG lost eight sen each to RM12.38 and RM12.48, AMMB down six sen to RM6.32, while Public Bank shed two sen to RM13.78.
Among the other decliners, BAT fell 64 sen to RM55.58, Dutch lady down 44 sen to RM35.50, Carlsberg fell 20 sen to RM10.60, F&N 18 sen to RM19, Sarawak Oil Palms 13 sen to RM6.81, while BLD PLANTATION []s, Cepco, Shell, Tenaga and PPB fell 10 sen each to RM9.15, RM1.55, RM10.18, RM6.47 and RM16.60 respectively.
GAB was the top gainer and rose 16 sen to RM13.20, Milux gained 15 sen to RM1.40, GBH 13 sen to RM1.25, Kamdar 12.5 sen to 49.5 sen, Malpac and JCY 10 sen each to RM1.59 and RM1.29, Tradewinds Plantations nine sen to RM4.94, Kurasia 6.5 sen to 63.5 sen and Tradewinds up six sen to RM9.60.
The actives included Ingenuity Solutions, Metronic, Cerotech, ManagePay, Naim Indah Corp, Ariantec, JCY and SuperComNet.
The FBM KLCI fell 7.36 points to close at 1,599.27, weighed by losses and banking and select blue chips.
"Stocks and the euro fell on Wednesday after the US Federal Reserve dimmed hopes for fresh asset-buying, further underlining its divergence with an embattled Europe that remains in crisis-fighting mode," according to Reuters.
Overnight minutes from the Fed's March meet showed less support for more quantitative easing (QE), or bond-buying, in the face of improved economic data, which buoyed the dollar and hit stocks in both the United States and Asia, it said.
With Europe still battling its debt crisis and struggling with economic growth, the focus later will be on the European Central Bank's latest rate-setting meeting, with rates expected to remain on hold at 1%, said Reuters.
At the regional markets, Japan’s Nikkei 225 fell 2.29% to 9,819.99, South Korea’s Kospi fell 1.60% to 2,018.61, and Taiwan’s Taiex lost 1.3% to 7,760.85, while Singapore’s Straits Times Index
The Hong Kong and Shanghai markets were closed for a public holiday.
On Bursa Malaysia, among the banking stocks, CIMB and RHB Capital lost nine sen each to RM7.72 and RM7.74, Hong Leong Bank and HLFG lost eight sen each to RM12.38 and RM12.48, AMMB down six sen to RM6.32, while Public Bank shed two sen to RM13.78.
Among the other decliners, BAT fell 64 sen to RM55.58, Dutch lady down 44 sen to RM35.50, Carlsberg fell 20 sen to RM10.60, F&N 18 sen to RM19, Sarawak Oil Palms 13 sen to RM6.81, while BLD PLANTATION []s, Cepco, Shell, Tenaga and PPB fell 10 sen each to RM9.15, RM1.55, RM10.18, RM6.47 and RM16.60 respectively.
GAB was the top gainer and rose 16 sen to RM13.20, Milux gained 15 sen to RM1.40, GBH 13 sen to RM1.25, Kamdar 12.5 sen to 49.5 sen, Malpac and JCY 10 sen each to RM1.59 and RM1.29, Tradewinds Plantations nine sen to RM4.94, Kurasia 6.5 sen to 63.5 sen and Tradewinds up six sen to RM9.60.
The actives included Ingenuity Solutions, Metronic, Cerotech, ManagePay, Naim Indah Corp, Ariantec, JCY and SuperComNet.
