Friday, 20 April 2012

KLCI stays below 1,600-level at mid-day break, global woes weigh

KUALA LUMPUR (April 20); The FBM KLCI stayed in negative territory at the mid-day break on Friday in line with generally weaker performance at regional markets.

The FBM KLCI was down a marginal 1.14 points to 1,595.48 at 12.30pm, weighed by losses including at Genting and RHB Capital and CIMB.

Gainers trailed losers by 242 to 313, while 322 counters traded unchanged. Volume was 950.42 million shares valued at RM600.85 million.

The ringgit weakened 0.12% to 3.0693 versus the greenback, crude palm oil futures for the third month delivery fell RM16 per tonne to RM3,461, crude oil gaind 34 cents per barrel to US$102.61 while gold added US$1 an ounce to US$1,643.93.

Asian shares fell and commodity-linked currencies such as the Australian dollar slipped on Friday after disappointing U.S. economic data stirred doubts about the strength of the recovery, according to Reuters.

Renewed worries on the euro zone debt crisis also kept riskier assets under pressure, as a better-than-feared Spanish bond auction failed to allay concerns that Spain may follow Greece, Ireland and Portugal in needing an international bailout, it said.

At the regional markets, Japan’s Nikkei 225 fell 0.35% to 9,555.17, Hong Kong’s Hang Seng Index was down 0.24% to 0.24% to 20,944.10, the Shanghai Composite Index shed 0.60% to 2,392.92, Taiwan’s Taiex fell 1.12% to 7,537.58, South Korea’s Kospi lost 1.25% to 1,974.93 and Singapore’s Straits Times Index was down 0.20% to 3,002.14.

On Bursa Malaysia, Manulife was the top loser in the morning session and fell 14 sen to RM3.22, Batu Kawan and genting fell 10 sen each to RM18.80 and RM10.82, RHB Capital fell nine sen to RM7.43, Mentiga 7.5 sen to 68.5 sen, while SAM Engineering, Pintaras, S P Setia, Guan Chong and CIMB fell seven each to RM3.58, RM2.96, RM3.81, RM2.85 and RM7.56 respectively.

Ariantec was the most actively traded counter with 325.08 million shares traded. The stosk rose six sen to 23.5 sen.

Other actives included Metronic, Focus, CSL, SuperComNet, Astral Supreme, AWC and Utopia.

Gainers included BAT, Aeon Credit, KLK, Panasonic, Country View, Jaya Tiasa, Dutch Lady, Far East, Ta Ann and CBIP.

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