Thursday, 10 May 2012

Europe anxiety drags Asian equities, KLCI falls in early trade

KUALA LUMPUR (May 10): Anxiety over teh uncertainties over the economic and political future of the troubled euro zone weighed on Asian stosks in early trade on Thursday, and equity assets on Bursa Malaysia were not spared either.

The FBM KLCI opened1.34 points lower at 1,583.56, weighed by losses at key blue chips.

Gainers trailed losers by 41 to 49, while 105 counters traded unchanged. Volume was 13.58 million shares valued at RM8.75 million.

Asian shares fell for a sixth straight session on Thursday, with sentiment taking a further hit from mounting worries about the health of Spanish banks while deepening political chaos in Greece seemed to put it at risk of insolvency and a euro exit, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.1 percent, touching its lowest in nearly four months. Global shares slid for a sixth day while safe-haven U.S. and German government debt rose on Wednesday, it said.

Among the early decliners on Bursa Malaysia were Genting PLANTATION []s, AMMB, PPB, MBF Hodings, Telekom, RHB Capital, Petronas Dagangan, Orient, Kulim and Kumpulan Europlus.

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