Thursday, 26 April 2012

Local uncertainties keep investors at bay

KUALA LUMPUR (APRIL 26): The FBM KLCI was unable to sustain its earlier gains and slipped at the mid-day break on Thursday as while most regional markets improved on US data and policy, local investors remained edgy ahead of this weekend’s planned Bersih 3.0 protests.

The FBM KLCI shed 0.69 of a point to 1,578.66 at 12.30pm, weighed by losses including at BAT, PPB, Petronas Dagangan and Hong Leong Bank.

Losers led gainers by 375 to 198, while 312 counters traded unchanged. Volume was 839.42 million shares valued at RM563.21 million.

Te ringgit strengthened 0.13% to 3.0560 versus the greenback, crude palm oil futures for the third month delivery fell RM32 per tonne to RM3,479, crude oil slipped six cents per barrel to US$104.06 while gold rose US$3.48 an ounce to US$1,647.10.

Meanwhile, Asian shares mostly rose on Thursday, retaining positive momentum as the Federal Reserve reassured markets that it will keep its very accommodative stance to support growth, while optimism grew over strong quarterly corporate earnings, according to Reuters.

Along with the Fed's assurance that its very easy monetary policy will be kept in place as long as needed, U.S. stocks rallied on Wednesday after Apple Inc reported quarterly profits nearly doubled, it said.

At the regional markets, Hong kong’s Hang Seng Index gained 0.51% to 20,752.20 and South Korea’s Kospi was up 0.19% to 1,965.61.

However, Japan’s Nikkei 225 shed 0.06% to 9,554.94, the Shanghai Composite Index lost 0.21% to 2,401.83, Taiwan’s Taiex fell 0.50% to 7,525.33 and Singapore’s Straits Times Index was down 0.17% to 2,974.74.

On Bursa Malaysia, BAT fell 82 sen to RM54.30, PPB down 14 sen to RM16.66, Petronas Dagangan and HLFG down 12 sen each to RM19.08 and RM12.08, Jaya Tiasa and Petronas Gas fell 10 sen each to RM9.48 and RM16.48, Warisan nine sen to RM2.25, while Hong Leong bank and SEGi fell eight sen each to RM12.22 and RM1.73.

Utopia was the most actively traded counter in the morning session with 134.96 million shares done. The stock was unchanged at 9.5 sen.

Other actives included Ariantec, Focus, Metronic, CSL, RGB, Naim Indah Corp and Winsun.

Gainers included Aeon, Panasonic, Aeon Credit, KrisAssets, Takaful, Tradewinds, Globetronics and Dutch Lady.

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