Asian markets in the red, KLCI barely higher

by **hlk** Tue 04 Sep 2012, 13:43

KUALA LUMPUR: All key Asian markets fell at midday on Tuesday on
concerns about slower global growth in the European Union to China as
investors put aside their hopes of more governments' stimulus.
News reports said Moody's Investors Service cut the European Union's economic outlook and Societe Generale SA predicted weaker Chinese growth, which fueled speculation of more government stimulus.
At 12.30pm, the FBM KLCI was just up 0.03 of a point to 1,653.93. The KLCI futures rose one point to 1,647.
Turnover was 642.21 million shares valued at RM528.14mil. There were 220 gainers, 358 losers and 315 stocks unchanged.
Among
the key regional markets, Japan's Nikkei 225 fell 0.38% to 8,759.44;
Hong Kong's Hang Seng Index shed 0.32% to 19,497.47; Shanghai's
Composite Index fell 0.38% to 2,051.31; Taiwan's Taiex eased0.08% to
7,444.75 and South Korea's Kospi was down 0.25% to 1,907.98 while
Singapore's Straits Times Index dipped 0.01% to 3,016.89.
US light crude oil rose 76 cents to US$97.23 and Brent 22 cents higher at US$116 while spot gold gained US$3.41 to US$1,695.74.
The ringgit was firmer against the US dollar at 3.1018.
Crude palm oil for third-month futures rose RM2 to RM3,075.
At Bursa Malaysia, Hong Leong Bank rose six sen to RM13.54, Petronas Gas four sen to RM19.22 and Genting Malaysia three sen to RM3.54. Up two sen each were DiGi, Petronas Chemicals, TM and Maxis to RM4.86, RM6.50 and RM6.20 and RM7 respectively.
OSK Properties-WC rose the most, up 24.5 sen to 25 sen. MNRB added 19 sen to RM3.29 while Oriental Holdings and Johor Tin gained 11 sen each to RM7.88 and RM2.11.
Consumer dividend stocks were among the losers, but in relatively thin trade. Nestle fell 48 sen to RM64.12, BAT 20 sen to RM63.20 and Carlsberg 16 sen to RM12.04.
Pharmaniaga gave up 20 sen to RM8.08, Allianz-PA 14 sen to RM6.56 while Top Glove gave up part of its gains, down nine sen to RM5.31.