Friday, 11 May 2012

Weaker regional sentiment weighs KLCI down

KUALA LUMPUR (May 11): The weaker investor sentiment at regional markets weighed on the FBM KLCI and led the benchmark index lower at the mid-day break on Friday.

Asian shares slid on Friday, spawning declines in other risk assets, as deepening political turmoil in the eurozone fuelled concerns about global growth and a huge loss from JPMorgan added to jittery sentiment, according to Reuters.

At the mid-day break, the FBM KLCI fell 1.14 points to 1,586.92.

Losers led gainers by 362 to 176, while 330 counters trade unchanged. Volume was 475.81 million shares valued at RM374.95 million.

The ringgit weakened 0.15% to 3.0725 versus the greenback, crude palm oil futures for the third month delivery fell RM41 per tonne to RM3,299, crude oil lost US$1.27 (RM3.90) per barrel to US$95.81 and gold fell US$9.25 an ounce to US$1,584.77.

At the regional markets, Japan's Nikkei 225 fell 0.48% to 8,966.10, Hong Kong's Hang Seng Index fell 1.18% to 19,989.50, the Shanghai Composite Index shed 0.25% to 2,404.31, Taiwan's Taiex fell 1.23% to 7,391.94, south Korea's Kospi lost 1.37% to 1,918.33 and Singapore's Straits Times Index was down 0.72% to 2,882.77.

On Bursa Malaysia, PPB was the top loser in the morning session and fell 34 sen to RM16.14, BAT lost 30 sen to RM53.70, United PLANTATION []s down 24 sen to RM26.26, GAB 22 sen to RM13.40, Southern Acids 19 sen to RM2.26, Tasek 17 sen to RM9.19, while Milux, Shell and Far East lost 10 sen each to RM1.18, RM9.90 and RM7.55 respectively.

Harvest Court was the most actively traded counter, with 37.29 million shares done. The stock fell 4.5 sen to 58 sen.

Other actives included Utopia, Focus, Ariantec, Permaju, LFE Corp, Naim Indah Corp, CSL, Winsun and Metronic.

Gainers included SAM Engineering, Aeon Credit, Aeon, Tahps, Binutulu Port, BLD Plantations, Malpac and Fiamma.

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