Asia still sees red
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Tuesday, September 27, 2011
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KUALA LUMPUR: Asia continued to trade in the red as sentiments of unresolved global uncertainties over-spilled into the new week.
Hwang DBS Vickers Research said in its market preview that “our Malaysian bourse will be hoping to regain its footing after falling by 65.0-point or 4.5% last week. Nonetheless, we reckon any technical rebound will likely be mild in the near term”.
It also included that “stocks that could see a relief rally today include beaten down heavyweights such as Maybank, Sime Darby and Genting. Proton shares may also attract interest after a weekly business reported that there has been renewed interest in a takeover exercise in the national automotive company”.
The FBM KCLI traded at 1347.14 at 10.06am, dipping 18.8 points or 1.38%. It opened at 1357.74, losing 8.20 points, or 0.6%.
Locally, market volume was relatively thin with 131.25mil shares traded at 10.10am worth RM173.77mil. Decliners outpaced advancers 413 to 53 while 155 counters remain unchanged. The gainers were led by United U-Li Corp Bhd, rising 18 sen to RM1.03; Hil Industris Bhd gaining 14 sen to hit RM4.09 and QSR Brands Bhd gaining 11 sen to RM5.44.
On the other end, the losers in morning trade were Kuala Lumpur Kepong Bhd, sliding 56 sen to RM 20.14; Public Bank Bhd falling 48 sen to RM11.96 and blue chip Dutch Lady Milk Industries Bhd dipping 36 sen to RM17.66.
Within the region, bourses traded in the slight negative. Tokyo's Nikkei 225 lost 1.65% to 8419.36; Hong Kong's Hang Seng Index recorded a 0.31% dip at 17614.51; Shanghai A index was down 0.12% to 2430.13 while Taiwan's Taiex slid 0.73% to 6994.53 and Korea's Kospi fell 1.2% to 1677.12.
Closer to home, Singapore's Straits Times Index fell 1.05% to 2670.38.
Nymex crude oil was unchanged at US$79.85. Spot gold lost US$15.16 to US$1641.57 while silver dipped 98 cents to US$30.17.
The ringgit continued to weaken against the American dollar at 3.1877 and 4.2786 against the euro.
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Category: Local News , News
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