Asian markets mired in red as Europe stumbles

KUALA LUMPUR (May7): The FBM KLCI fell on Monday as Asian markets were mired in the red as European markets stumbled following election outcomes in France, Greece and Italy that raised concerns on whether euro zone economies will continue to pursue austerity measures.

Meanwhile, European equities slumped to 4-1/2 month lows on Monday after elections in France and Greece that reflected deep public discontent over austerity measures and cast doubt over the euro zone's ability to fix its debt crisis, according to Reuters.

Greece's benchmark stock index fell by more than 7 percent in early morning trading on Monday, after the country's main parties failed to win enough votes to form a ruling coalition following elections on Sunday, it said.

Royal Bank of Scotland strategists in a note Monday said the results of a number of elections across Europe that took place over the weekend were likely to keep the market squarely focused on politics this week, and on the results implications for the European policy response devised to address the debt crisis so far.

The FBM KLCI fell 6.71 points to 1,584.87 at 5pm, weighed by losses at select blue chips.

Market breadth was negative with 540 losers, 208 gainers and 305 counters trading unchanged. Volume was 963.02 million shares valued at RM1.19 billion.

At the regional markets, Japan’s Nikkei 225 lost 2.78% to 9,119.14, Hong Kong’s Hang Seng Index lost 2.61% to 20,536.65, Taiwan’s Taiex fell 2.11% to 7,538.08, South Korea’s Kospi was down 1.64% to 1,956.44 and Singapore’s Straits Times Index lost 2.08% to 2,928.34.

On Bursa Malaysia, Dutch Lady was the top loser and fell 34 sen to RM33.04, Tradewinds PLANTATION []s lost 23 sen to RM5.75, Tradewinds down 22 sen to RM9.82, SAM Engineering 19 sen to RM3.01, Hong Leong Bank, Genting Plantations and IJM Corp lost 16 sen each to RM12.20, RM9.44 and RM5.42 respectively, Allianz and Tahps down 15 sen each to RM4.60 and RM4.65, while Atlan fell 14 sen to RM4.26.

SAAG was the most actively traded counter with 48.97 million shares done. The stock gaindd half a sen to 7 sen.

Other actives included Ariantec, Time, Maybulk, Benalec, KFCH, Metronic, permaju, Naim Indah Corp and JCY.

Meanwhile, the gainers on Monday included Permaju, Country View, PMB Tech, Tasek, GAB, Lafarge Malayan Cement, MKH, KESM, Nestle and HLFG.



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KLCI stays in the black at mid-morning, lifted by select blue chips

KUALA LUMPUR (March 23): The FBM KLCI stayed in positive territory at mid-morning on Friday, while most key regional markets were mired in the red following the weaker overnight close at European and US markets on worries of a slowdown in the world economy.

At 10am, the FBM KLCI rose 1.55 points to 1,584.79, lifted by gains at select blue chips including BAT, Genting, Hong Leong bank and KLK.

Gainers trailed losers by 171 to 198, while 259 counters traded unchanged. Volume was 704.78 million shares valued at RM225.39 million.

Meanwhile, most Asian shares fell on Friday and the safe-haven yen gained after data showing shrinking factory activity in China and the euro zone heightened concerns about a slowdown in the global economy, acco0rding to Reuters.

At the regional markets, jaoan;s Nikkei 225 fell 1.07% to 10,019.00, Hong Kong’s Hang Seng Index lost 1.08% to 20,675.00, the Shanghai Composite Index shed 0.66% to 2,360.08, Taiwan’s Taiex lost 0.26% to 8,039.14 and South Korea’s Kospi was down 0.25% to 2,020.98, while Singapore’s Straits Times Index rose 0.28% to 2,987.71.

Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients the KLCI closed 0.71 points higher on Thursday, at 1,583.24.

“Its resistance areas of 1,585 and 1,594 may cap market gains, whilst the firmer support areas are located at 1,567 and 1,583. Due to the US markets’ weaker tone last night, we could be in for a range-bound day,” he said.

BIMB Securities Research in a note Friday said traders are at it again and we believe any forthcoming negativity will be amplified exponentially. At present they are citing slower global growth as a major concern hence the prevailing selling on equities.

Despite a four-year low in unemployment claims, the Dow Jones Industrial Average declined 78.5 points to hang precariously just above the psychological 13,000 mark. For the same reason, European bourses also suffered similar fate from broad based selling as all ended up in the red, it said.

The research house said the sea of red spread to Asia as well with only a handful posted gains and one of them being the KLCI showed great resilience at 1,583 (+0.7).

“We were again astounded by the buying on the local bourse spearheaded by the foreign side as net foreign participation was a positive RM87 million. Maybe today would be the day that the index may retrace with the immediate support seen at 1,580,” it said.

On Bursa Malaysia, Jaya Tiasa was the top gainer and rose 52 sen to RM8.21, BAT up 50 sen to RM53.80, Genting up 16 sen to RM10.94, Lipo added 16 sen to RM1.20, UMW and Batu Kawan gained 12 sen to RM7.25 and RM18.7.

Kobay rose 10.5 sen to 89.5 sen, Hong leong Bank and Subur added 10 sen each to RM12.18 and RM2.59 while KLK gained eight sen to RM23.90.

SAAG was the most actively traded counter with 12.7 million shares done. The stock gained half a sen to eight sen.

Other actives included Trinity, Ingenuity Solutions, Ariantec, Metronic, Flonic, Astral Supreme and Iris Corp.

Meanwhile, the decliners at mid-morning included Ta Win Holdings, SMPC, Carlsberg, Deleum, AMMB, Kein Hin, Sarawak PLANTATION []s, Tenaga and KYM.



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KL shares lower at mid-morning trade

Share prices on Bursa Malaysia were lower at mid-morning today, weighed down by losses in selective blue-chips like CIMB, Sime Darby, Genting and AirAsia, dealers said.

At 11.05am, the FBM KLCI was 1.29 points lower at 1,555.37, after opening 0.47 point higher at 1,557.13.

CIMB fell three sen to RM9.60, Sime Darby eased six sen to RM7.10, Genting lost two sen to RM10.52 and AirAsia declined one sen to RM3.57.

The Finance Index dropped 12.43 points to 13,855.24 and the Plantation Index fell 15.79 points to 8,588.12.

The Industrial Index, however, rose 0.57 point to 2,866.80.

The FBM Emas Index dropped 4.63 points to 10,774.0 and the FBM ACE Index decreased 2.18 points to 4,674.20.

The FBM Mid 70 Index was up 3.62 points to 12,199.38.

Losers led gainers by 317 to 284 while 280 counters were unchanged. Trading was mild with 495.231 million shares worth RM446.528 million traded.

Among active counters, IFCA MSC and Naim Indah added 1.5 sen each to 13 sen and 43.5 sen, respectively, SAAG Consolidated earned half sen to seven sen and Xidelang was unchanged at 40 sen.

Among heavyweights, Maybank rose two sen to RM8.72, Petronas Chemicals was unchanged at RM6.94 and Maxis was up one sen to RM6.00. -- Bernama



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KL shares in red at mid-day

Losses in selective bluechips and finance counters like Sime Darby, Genting, Maybank, Hong Leong Bank and CIMB pulled the FBM KLCI to negative territory at midday today.

At 12.30pm, the benchmark index declined 1.08 points to 1,559.44 after opening 1.39 points lower at 1,559.13 in line with weaker movements in other regional markets.

Dealers said investors remained on the sidelines following the overnight weak performance on the US market as weak data on European business activity and China's manufacturing sector prompted fears on global economic prospects.

Hong Leong Investment Bank said overall, the rebound from Feb 16's low of 1,549 points continued to be weak as the broader market turned more cautious and trading volume shrank, suggesting that the rally was running out of steam.

"The KLCI is still below our envisaged resistance channels of 1,570-1,580 points with the support level falls to 1,554 points," it said in a statement.

The Finance Index declined 42.99 points to 13,907.0, the Industrial Index slipped 18.06 points to 2,873.98 and the Plantation Index dropped 60.84 points to 8,605.36.

The FBM Emas Index eased 9.279 points to 10,809.91, the FBM ACE Index slipped 42.0 points to 4,763.24 and the FBM Mid 70 Index inched down 3.09 to 12,261.51.

Losers led gainers 515 to 206 on Bursa Malaysia while turnover amounted to 937.154 million shares worth RM811.777 million. Among active counters, IFCA MSC fell 2.5 sen to 12 sen, Naim Indah lost two sen to 43.5 sen, Green Ocean rose 2.5 sen to 32.5 sen and SAAG Consolidated was up half a sen to 7.5 sen.

Maybank fell one sen to RM8.70, Sime Darby was unchanged at RM9.64, Petronas Chemicals rose one sen to RM6.96 while CIMB lost seven sen to RM7.17. -- Bernama



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KL shares continue positve momentum

Share prices on Bursa Malaysia continued the positive momentum at midmorning today, due to an increased confidence from investors in Asian markets, dealers said.

The dealers said buying interest was mostly shown in banking stocks, which also helped sustain the momentum.

As at 10.51 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 13.98 points higher at 1,552.75.

The Finance Index chalked up 121.59 points to 13,708.9, the Plantation Index added 32.1 points to 8,770.02 and the Industrial Index gained 40.33 points to 2,911.61.

The FBM Emas Index surged 88.25 points to 10,822.04, the FBM Mid 70 Index advanced 66.02 points to 12,472.55 and the FBM ACE Index increased 50.09 points to 4,586.72.

Gainers beat losers 459 to 237 with 299 counters unchanged, 485 counters untraded and 21 others suspended. Turnover stood at 1.71 billion shares worth RM959.8 million.

For the actives, Naim Indah Corp advanced 30 sen to 48 sen, SAAG Consolidated earned 1.5 sen to nine sen and Trinity Corp was one sen higher at 7.5 sen.

Among heavyweights, Maybank rose eight sen to RM8.41, CIMB Group Holdings and Petronas Chemicals gained nine sen each to RM7.09 and RM6.88 respectively, while Sime Darby added 30 sen to RM9.76. -- BERNAMA



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FBM KLCI opens 10 points higher

Share prices on Bursa Malaysia opened higher in early trading today in tandem with gains in the regional Asian markets and positive progress in the european debt crisis, dealers said.

Dealers said persistent buying interest following last Friday's uptrend helped sustain the market momentum.

As at 9.26am, the FBM KLCI was 9.72 points better at 1,584.49 after opening 3.5 points higher at 1,542.27.

The Finance Index surged 79.19 points to 13,666.5, the Plantation Index perked 40.92 points to 8,788.84 and the Industrial Index jumped 41.9 points to 2,913.18.

The FBM Emas Index advanced 65.63 points to 10,799.42, the FBM Mid 70 Index added 60.08 points to 12,466.61 and the FBM ACE Index rose 42.72 points to 4,579.35.

Gainers led losers 349 to 113, 221 counters were unchanged, 797 counters untraded and 21 suspended. Turnover stood at 627.77 million shares worth RM320.2 million.

Actives, Naim Indah Corp gained 27 sen to 45 sen, SAAG Consolidated earned 1.5 sen to eight sen and Trinity Corp added one sen to 75 sen.

Heavyweights, Maybank rose seven sen to RM8.40, CIMB Group Holdings gained three sen to RM7.03, Sime Darby improved 28 sen to RM9.74 and Petronas Chemicals Group advanced six sen to RM6.85. -- BERNAMA



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KLCI closes lower, Asian markets slip in weak turnover

KUALA LUMPUR (Dec 8): The FBM KLCI closed lower on Thursday, while key Asian markets slipped in weak turnover ahead of the European leaders’ summit on Friday and release of economic data from China over the next two days.

The FBM KLCI fell 0.68% or 10.07 points to close at 1,472.92.

Losers beat gainers by 447 to 300, while 287 counters traded unchanged. Volume was 1.62 billion shares valued at RM1.18 billion.

At the regional markets, Hong Kong’s Hang Seng Index lost 0.69% to 19,107.81, Japan’s Nikkei 225 fell 0.66% to 8,664.58, Taiwan’s Taiex was down 0.71% to 6,982.90, South Korea’s Kospi lost 0.37% to 1,912.39, the Shanghai Composite Index shed 0.12% to 2,329.82 and Singapore’s Straits Times Index down 1.95% to 2,728.31.

The top loser on Bursa Malaysia was BAT that fell 60 sen to RM47.40; F&N lost 30 sen to RM17.80, JT International down 27 sen to RM6.53, Allianz 22 sen to RM4.66, Riverview, CIMB and RHB Capital down 21 sen each to RM2.91, RM6.99 and RM6.92 respectively, while Hong Leong Bank, IJM Corp and Axiata lost 20 sen each to RM10.54, RM5.50 and RM4.89 respectively.

SAAG was the most actively traded counter with 71.7 million shares done. The stock was unchanged at 6.5 sen.

Other actives included Versatil, DVM, Sycal, Compugates while Proton and DRB-Hicom warrants were also actively traded.

Gainers included KLK, Nestle, Batu Kawan, Sarawak Oil Palm, BLD PLANTATION []s, Boxpak, BHIC, Lafarge Malayan Cement, Genting and Nilai.



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KL shares in red at mid-afternoon

Shares prices on Bursa Malaysia were further adrift at mid-afternoon today as market players remained cautious ahead of key events in Europe, dealers said.

As at 3.08pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 12.33 points to 1,470.66.

The Finance Index plunged 165.82 points to 13,233.15, Plantation Index shed 57.09 points to 7,825.73 and the Industrial Index declined 11.57 points to 2,668.85.

The FBM Emas Index lost 70.75 points to 10,144.87, FBM 70 Index fell 34.68 points to 10,997.61 and the FBM ACE Index declined 55.41 points to 4,205.83.

Decliners led advancers by 423 to 218 while 265 counters were unchanged and total volume stood at 1.098 billion shares worth RM652.921 million.

The most active, SAAG Consolidated added half-a-sen to seven sen, Sycal Ven-WA perked three sen to 12.5 sen and DVM Technology inched up half-a-sen to 9.5 sen.

As for the heavyweights, Maybank slipped 10 sen to RM8.20, Sime Darby lost one sen to RM8.93, CIMB dropped 20 sen to RM7 while Petronas Chemicals was flat at RM6.08. -- Bernama



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KLCI stays in the red at mid-day as investors remain jittery

KUALA LUMPUR (Dec 8): The FBM KLCI stayed in negative territory at the mid-day break on Thursday, in line with most key regional markets as investors stayed undecided ahead of the European crunch summit over the weekend.

Asian shares fell on Thursday as doubts set in about whether European leaders can agree on a plan to tackle the euro zone's two-year-old debt crisis at a high-stakes summit on Friday, according to Reuters.

The FBM KLCI fell 10.28 points to 1,472.71 at the mid-day break.

Losers led gainers by 216 to 364, while 275 counters traded unchanged. Volume was 895.84 million shares valued at RM498.92 million.

The ringgit weakened 0.19% to 3.1316 versus the US dollar; crude palm oil futures for the third month delivery slipped RM3 per tonne to RM3,112, crude oil gained 13 cents per barrel to US$100.62 while gold shed US$3.57 an ounce to US$1,738.23.

At the regional markets, Japan’s Nikkei 225 was down 0.52% to 8,676.76, Hong Kong’s Hang Seng Index lost 0.67% to 19,111.64, Taiwan’s Taiex fell 1.17% to 6,950.81, Singapore’s Straits Times Index lost 1.59% to 2,738.25 and South Korea’s Kospi shed 0.28% to 1,914.00.

Meanwhile, the Shanghai Composite Index gained 0.42% to 2,342.42.

Among the losers on Bursa Malaysia, BAT fell 34 sen to RM47.66, JT International down 25 sen to RM6.55, KLK 22 sen to RM21.94, Hong Leong Bank and IJM Corp 20 sen each to RM10.54 and RM5.50, Axiata 17 sen to RM4.92, Uzma and CIMB 15 sen each to RM1.60 and RM7.05, while Allianz and KrisAssets lost 13 sen each to RM4.75 and RM5.25.

SAAG was the most actively traded counter with 64.4 million shares done. The stock was up half a sen to 7 sen.

Other actives included DVM, Sycal, iDimension, Timecom, Time and MUI Industries.

Among the gainers this morning were Nestle, BHIC, Boxpak, BLD PLANTATION []s, HLFG, Cycle & Carriage Bintang, Milux, Ajinomoto, PPB and Hwatai.



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KL shares still in the red at midday

Share prices on Bursa Malaysia continued to lose grounds at midday today as the market remained under pressure on external developments.

At 12.30pm, the FBM KLCI was down 10.10 points at 1,472.89, after opening 5.24 points lower at 1,477.75.

Dealers said investors were cautious ahead of a European Union summit this week. Economic data from Japan and Australia that indicated the global economy is slowing also weighed on the local equity market.

The Finance Index dipped 125.78 points to 13,107.37, the Industrial Index slipped 7.39 points to 2,673.03 and the Plantation Index dropped 49.88 points to 7,832.94. The FBM Emas Index lost 59.25 points to 10,085.62, the FBM 70 Index declined 35.03 points to 10,997.26 and the FBM Ace Index was down by 46.98 points to 4,214.26.

Decliners led advancers by 364 to 216 while 275 counters were unchanged, 631 untraded and 25 others suspended. Trading was moderate with a total volume of 895.838 million shares worth RM498.921 million.

Among active stocks, SAAG Consolidated earned 0.5 sen to 7.0 sen, Sycal Ven-WA added 3.5 sen to 13 sen and DVM Technology inched up 1.0 sen to 10 sen.

Sanichi Technology was suspended pending a reply to queries and further clarification on the details of the two announcements made by the company yesterday. British American Tobacco lost 34 sen to RM47.66, JT International eased 25 sen to RM6.55, while Kuala Lumpur Kepong erased 22 sen to RM21.94

Of the heavyweights, Maybank dropped 9.0 sen to RM8.21, Sime darby was flat at RM8.94, CIMB fell 15 sen to RM7.05 while Petronas Chemicals edged up 1.0 sen to RM6.09. -- Bernama



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Asian markets fall on doubts over European leaders’ summit outcome

KUALA LUMPUR (Dec 8): The FBM KLCI slipped on Thursday in line with the weaker overnight close at European bourses as well as Wall Street, following growing concerns over the eurozone debt crisis and doubts over whether a European policymakers’ summit this week would solve the financial woes there.

The FBM KLCI fell 10.62 points to 1,472.37 at 10am, weighed by losses at blue chip stocks.

Losers led gainers by 232 to 164, while 195 counters traded unchanged. Volume was 465.58 million shares valued at RM206.77 million.

Asian shares drifted lower as a report that the G20 was preparing a $600 billion lending facility for the International Monetary Fund (IMF) to help Europe was denied by G20 and IMF officials, according to Reuters.

Meanwhile, Standard & Poor's warned on Wednesday that it could cut the credit ratings of the European Union and large euro-zone banks if a mass downgrade of euro-zone countries materializes.

S&P had said on Monday it may downgrade nearly all 17 euro-zone countries if EU leaders fail to agree on a solution for the region's debt crisis during Friday's summit.

At the regional markets, Hong Kong’s Hang Seng Index lost 1.03% to 19,041.67, Japan’s Nikkei 225 fell 0.97% to 8,637.95, Taiwan’s Taiex was down 1.36% to 6,937.42, South Korea’s Kospi lost 0.69% to 1,906.23, Singapore’s Straits Times Index fell 0.68% to 1,472.90 and the Shanghai Composite Index shed 0.62% to 2,318.21.

Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients Thursday said the FBM KLCI’s resistance areas of 1,484 and 1,503 may cap market gains, whilst the obvious support areas may be located at 1,465 and 1,482.

“Due to the US markets’ mixed tone last night, we might a quiet and benign day for the local index today,” he said.

Among the losers on Bursa Malaysia at mid-morning were BAT that fell 40 sen to RM47.60, JT International down 29 sen to RM6.51, IJM Corp 25 sen to RM5.45, KLK 24 sen to RM21.92, PPB and Hong Leong Bank down 20 sen each to RM16.20 and RM10.54, Uzma 15 sen to RM1.60, Allianz and KrisAssets down 13 sen each to RM4.75 and RM5.25, while Axiata lost 12 sen to RM4.97.

SAAG was the most actively traded counter with 60.5 million shares done. The stock added one sen to 7.5 sen.

Other actives include DVM, Sycal, Timecom, Time, MUI Industries and YGL.

Meanwhile, gainers included Nestle, United PLANTATION []s, BHIC, Proton, Dutch Lady, Tradewinds Plantations, Petrol-One, Boxpak and Eng Kah.



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KL shares subdued in early trade

Share prices on Bursa Malaysia got off to a subdued start today as investors globally remained cautious ahead of a European Union summit this week.

Fifteen minutes after the opening, the FBM KLCI slipped 10.22 points to 1,472.77. It had opened 5.24 points lower at 1,477.75.

Dealers said investors' sentiment on lingering hopes that the euro zone would figure out a solution to its ongoing debt crisis continued to weigh on the local bourse. Investors were also cautious of the upcoming China inflation data later this week.

The Finance Index fell 74.721 points to 13,158.43, the Plantation Index eased 38.7 points to 7,844.12 and the Industrial Index slipped 21.76 points to 2,658.66. The FBM Emas Index dropped 54.811 points to 10,090.06, the FBM Mid 70 Index was 26.64 points lower at 11,005.65 and the FBM ACE Index decreased 10.47 points to 4,250.77.

Decliners led advancers 135 to 83 while 149 counters were unchanged, 1,119 untraded and 25 others suspended. Turnover stood at 158.071 million shares valued at RM52.450 million.

Sycal Ven-WA added 5.0 sen to 14.5 sen, SAAG Consolidated was flat at 6.5 sen, Sycal Ventures inched up 4.0 sen to 27.5 sen and Denko Industrial advanced 3.5 sen to 41.5 sen.

For heavyweights, Maybank shed 7.0 sen to RM8.23, Sime Darby dwindled 10 sen to RM8.84, CIMB eased 8.0 sen to RM7.12 while Petronas Chemicals was unchanged at RM6.08. -- Bernama



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SAAG declines on bigger Q3 net loss

SAAG Consolidated (M) Bhd, a Malaysian engineering equipment supplier, fell in Kuala Lumpur trading after its third-quarter net loss widened to RM25.7 million from RM13.5 million a year earlier.

The stock declined 6.7 percent to 7 sen at 9:06 a.m. local time.
-- Bloomberg



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SAAG in talks on RM600mil Tamil Nadu project

PETALING JAYA: SAAG Consolidated (M) Bhd said it is in the final stages of clinching a contract worth more than RM600mil to build houses in the southern Indian state of Tamil Nadu.

In a filing to Bursa Malaysia yesterday, the group said its India-listed subsidiary SAAG RR Infra Ltd is presently in advanced stage of negotiations with the main licensee of the affordable housing project in India which has the rights for the German technology to build 60,000 solar-powered affordable homes per annum for Tamil Nadu.

“SAAG RR has built seven model homes, financed by the main licensee, which are ready to be handed over by the Chief Minister of Tamil Nadu to the underprivileged shortly,” it said, adding that appropriate announcements would be made if and when the project was awarded to SAAG RR.

SAAG RR would have the rights to manufacture, assemble and sell composite panels for the houses.

The Tamil Nadu government is expected to fund the project and construction works are expected to start by year-end, of which about 180,000 rupees (RM11,112) will be allocated for the construction of each house.



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Malaysian big stocks see heavy selling

Share prices on Bursa Malaysia closed sharply lower yesterday as the market lost ground after three days of gains, the local market was also in line with the fall on regional markets amid an escalating debt crisis in Europe, dealers said.

Renewed fears over the unresolved debt problem in Italy, which is pressuring the country to seek a bailout, fuelled concerns over its impact on the eurozone and global economy.

Heavy selling in heavyweights dragged the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) down 16.99 points to 1,472.65 at the close.

The Finance Index fell 98.70 points to 13,183.47, the Plantation Index declined 99.12 points to 7,486.92 and the Industrial Index eased 30.19 points to 2,696.05.

The FBM Emas Index slid 110.19 points to 10,043.42, the FBM Mid 70 Index eased 107.63 points to 10,803.40 and the FBM ACE Index shed 16.42 points to 4,260.47.

Losers led gainers 568 to 227 with 212 counters unchanged, 468 counters untraded and 23 others suspended.

Of the actives, Patimas Computers gained two sen to 7.5 sen, ES Ceramics Technology was unchanged at 12.5 sen, Sumatec Resources appreciated by 5.5 sen to 19.5 sen and SAAG Consolidated increased 1/2 sen to eight sen.

Among heavyweights, Maybank rose two sen to RM8.24, CIMB decreased 10 sen to RM7.26, Sime Darby slipped six sen to RM8.86 and Petronas Chemicals depreciated by nine sen to RM6.39.

Volume on the Main Market decreased to 1.977 billion shares worth RM1.378 billion from 2.008 billion shares worth RM1.731 billion on Wednesday. Bernama

Bursa Malaysia’s trading volume surges to 2.6b

KUALA LUMPUR (Nov 10): Heavy trading of penny stocks pushed the overall volume on Bursa Malaysia to multi-months high of 2.64 billion units on Thursday as traders switched in and out of stocks which had been under the radar screen of investors for months.

At the close, the FBM KLCI fell 16.99 points or 1.14% to 1,472.65. Turnover was 2.64 billion shares valued at RM1.46 billion. There were 227 gainers, 568 losers and 212 stocks unchanged.

Other key regional markets fared worse, with Hong Kong shares down more than 5%, wiping out almost a week's gains, as Europe's escalating debt crisis and weak results from the likes of HSBC Holdings sent investors rushing for the exits, Reuters reported.

Financials bore the brunt of the sell-off, with Chinese banks under additional pressure after Goldman Sachs' sold parts of its stake in top lender Industrial & Commercial Bank of China .

The Hong Kong benchmark index ended 5.3% lower or down 1,050.54 points to 18,963.89, while the Shanghai Composite fell 1.8% to 2,480. The Nikkei 225 lost 2.91% to 8,500.80, South Korea’s Kospi 4.94% to 1,813.25 and Singapore’s Straits Times Index 2.51% lower at 2,786.90.

At Bursa Malaysia, Genting fell 32 sen to RM10.68, dragging the KLCI down 2.74 points while IOI lost 12 sen to RM5.05, pushing the index down 1.78 points.

Nestle and BAT fell 50 sen each to RM49 and RM46.10 while KLK and Genting lost 32 sen each to Rm20.82 and RM10.68. PPB declined 30 sen to RM16.84, United PLANTATION []s 28 sen to RM17.60.

MISC fell 17 sen to RM6.78, Tenaga 13 sen to RM5.79 and CIMB 10 sen to RM7.26 while Petronas Chemicals shed nine sen to RM6.39 and Sime six sen to RM8.86.

Among the penny stocks, Patimas rose two sen to 7.5 sen with 106.91 million shares done in the absence of any corporate developments. Sumatec added 5.5 sen to 19.5 sen and the warrants 5.5 sen to 14 sen while SAAG edged up five sen to eight sen.

KL shares lower at mid-afternoon

Share prices on Bursa Malaysia remained in negative territory at midafternoon today on continued selling pressure in heavyweights, dealers said.

The dealers also said the market lost ground after three days of advances in tandem with the overnight losses on Wall Street and regional markets, on renewed fears over unresolved debt problems in Italy, which is pressuring the country to seek a bailout.

As at 3.06 pm,, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 18.90 points to 1,470.74, after opening 20.41 points lower at 1,469.23.

The Finance Index fell 115.979 points to 13,166.19, the Plantation Index declined 100.02 points to 7,486.02 and the Industrial Index eased 31.24 points to 2,695.

The FBM Emas Index slid 117 points to 10,036.61, the FBM Mid 70 Index eased 116.45 points to 10,794.58 and the FBM ACE Index shed 14.44 points to 4,262.45.

Losers led gainers 552 to 182 with 177 counters unchanged, 564 counters untraded and 22 others suspended. Turnover stood at 1.913 billion shares worth RM888.969 million.

For the actives, Patimas Computers gained two sen to 7.5 sen while SAAG Consolidated, ES Ceramics Technology and Iris Corporation, all increased half-a-sen each to eight sen, 13 sen and 17.5 sen respectively.

Among heavyweights, Maybank fell one sen to RM8.21, CIMB decreased nine sen to RM7.27, Sime Darby slipped six sen to RM8.86 and Petronas Chemicals eased 13 sen to RM6.35. -- Bernama

KL shares sharply lower at midday

Share prices on Bursa Malaysia extended the downtrend at midday today on continued selling pressure in heavyweights, dealers said.

The dealers also said the market moved in tandem with the overnight losses on Wall Street and renewed fears over unresolved debt problems in Italy, which is pressuring the country to seek a bailout.

At midday, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 17.73 points to 1,471.91 after opening 20.41 points lower at 1,469.23.

The Finance Index fell 118.31 points to 13,163.51, the Plantation Index declined 107.74 points to 7,478.30 and the Industrial Index eased 31.46 points to 2,694.78.

The FBM Emas Index slid 116.08 points to 10,037.39, the FBM Mid 70 Index eased 125.23 points to 10,785.80 and the FBM ACE Index shed 13.24 points to 4,263.65.

Losers led gainers 525 to 169 with 173 counters unchanged, 608 counters untraded and 22 others suspended. Turnover stood at 1.618 billion shares worth RM710.229 million.

For the actives, Patimas Computers gained 2.5 sen to eight sen, SAAG Consolidated increased half-a-sen to eight sen, ES Ceramics Technology rose one sen to 13.5 sen and Iris Corporation gained half-a-sen to 17.5 sen.

Among heavyweights, Maybank fell two sen to RM8.20, CIMB declined seven sen to RM7.29, Sime Darby slipped nine sen to RM8.83 and Petronas Chemicals eased 13 sen to RM6.35. -- Bernama

Market Commentary

The FBM KLCI index gained 15.14 points or 1.04% on Friday. The Finance Index increased 1.02% to 13284.84 points, the Properties Index up 1.23% to 952.63 points and the Plantation Index rose 1.01% to 7546.89 points. The market traded within a range of 9.42 points between an intra-day high of 1477.51 and a low of 1468.09 during the session.

Actively traded stocks include KBUNAI, HARVEST-WA, HARVEST, SANICHI, PALETTE, SAAG, ENVAIR, SYSTECH, IPOWER and FOCUS. Trading volume increased to 2302.61 mil shares worth RM1512.49 mil as compared to Thursday’s 1755.13 mil shares worth RM1140.07 mil.

Leading Movers were GENTING (+44 sen to RM10.80), CIMB (+17 sen to RM7.36), TENAGA (+16 sen to RM5.88), IOICORP (+13 sen to RM5.21) and DIGI (+82 sen to RM33.30). Lagging Movers were KLK (-14 sen to RM21.00), AXIATA (-1 sen to RM4.79) and GAM (-3 sen to RM3.36)). Market breadth was positive with 591 gainers as compared to 194 losers.-- JF Apex Securities Bhd

Market Commentary

The FBM KLCI index lost 8.58 points or 0.58% on Thursday. The Finance Index fell 0.93% to 13151.05 points, the Properties Index dropped 1.36% to 941.04 points and the Plantation Index down 0.63% to 7471.31 points. The market traded within a range of 20.81 points between an intra-day high of 1473.45 and a low of 1452.64 during the session.

Actively traded stocks include KBUNAI, HARVEST-WA, TEJARI, HARVEST, IRIS, COMPUGT, TEJARI-WA, INGENS, SAAG and PATIMAS. Trading volume increased to 1755.13 mil shares worth RM1140.07 mil as compared to Wednesday’s 1564.93 mil shares worth RM1693.74 mil.

Leading Movers were GENTING (+10 sen to RM10.36), DIGI (+18 sen to RM32.48), UMW (+7 sen to RM6.82), YTL (+1 sen to RM1.50) and BAT (+20 sen to RM46.20). Lagging Movers were CIMB (-12 sen to RM7.19), TENAGA (-14 sen to RM5.72), AXIATA (-6 sen to RM4.80), MAYBANK (-6 sen to RM8.22) and IOICORP (-6 sen to RM5.08). Market breadth was negative with 226 gainers as compared to 524 losers.-- JF Apex Securities Bhd