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Asian markets fall on global growth woes
by hlk Tue 02 Aug 2011, 18:40
KUALA LUMPUR: Asian markets mostly fell on Tuesday, Aug 2 as investors’ focus returned to global economic issues after US lawmakers had earlier in the day approved a measure to increase the country’s debt ceiling.
Sluggish global manufacturing data on Monday added to concerns about the world economic recovery, while concerns that Spain and Italy will be the next victims of the euro zone crisis drove yields to 14-year highs, according to Reuters.
An 11th-hour deal to raise the US debt ceiling cleared its biggest hurdle in the House of Representatives, staving off the prospect of a default. But fears persisted Washington could still lose its triple-A credit rating, it said.
The FBM KLCI fell 3.16 points to close at 1,554.85. Losers edged gainers by 496 to 307, while 262 counters traded unchanged. Volume was 903.52 million shares valued at RM1.44 billion.
At the regional markets, South Korea’s Kospi slumped 2.35% to 2,121.27, Taiwan’s Taiex lost 1.34% to 8,584.72, Japan’s Nikkei 225 fell 1.21% to 9,844.59, Hong Kong’s Hang Seng down 1.07% to 22,421.46, the Shanghai Composite Index down 0.91% to 2,679.26 and Singapore’s Straits Times Index closed 1.19% lower at 3,177.09.
On Bursa Malaysia, Sarawak Cables was the top loser and fell 39 sen to RM1.94; PPB lost 30 sen to RM17.28, Manulife 23 sen to RM3.02, Nestle 18 sen to RM47.60, Ta Ann 17 sen to RM5.50, QSR 13 sen to RM6.43, Kwantas 12 sen to RM2.17 while Asia File, Press Metal and PacificMas down 10 sen each to RM3.90, RM2.02 and RM3.70 respectively.
DVM, which was the most actively traded counter with 44.5 million shares traded, was issued with an Unusual Market Activity query by Bursa Malaysia Securities Bhd over the sharp increase in the price and volume of its shares.
DVM gained two sen to 25 sen.
Other actives included Sanichi, Lion Corp, Tricubes, Petronas Chemicals, Bertam, Jotech, KNM, AirAsia and CIMB.
Gainers included Pulai Springs, Tahps, BAT, AirAsia, Kenmark, BLD PLANTATION []s and United Plantations.
Sluggish global manufacturing data on Monday added to concerns about the world economic recovery, while concerns that Spain and Italy will be the next victims of the euro zone crisis drove yields to 14-year highs, according to Reuters.
An 11th-hour deal to raise the US debt ceiling cleared its biggest hurdle in the House of Representatives, staving off the prospect of a default. But fears persisted Washington could still lose its triple-A credit rating, it said.
The FBM KLCI fell 3.16 points to close at 1,554.85. Losers edged gainers by 496 to 307, while 262 counters traded unchanged. Volume was 903.52 million shares valued at RM1.44 billion.
At the regional markets, South Korea’s Kospi slumped 2.35% to 2,121.27, Taiwan’s Taiex lost 1.34% to 8,584.72, Japan’s Nikkei 225 fell 1.21% to 9,844.59, Hong Kong’s Hang Seng down 1.07% to 22,421.46, the Shanghai Composite Index down 0.91% to 2,679.26 and Singapore’s Straits Times Index closed 1.19% lower at 3,177.09.
On Bursa Malaysia, Sarawak Cables was the top loser and fell 39 sen to RM1.94; PPB lost 30 sen to RM17.28, Manulife 23 sen to RM3.02, Nestle 18 sen to RM47.60, Ta Ann 17 sen to RM5.50, QSR 13 sen to RM6.43, Kwantas 12 sen to RM2.17 while Asia File, Press Metal and PacificMas down 10 sen each to RM3.90, RM2.02 and RM3.70 respectively.
DVM, which was the most actively traded counter with 44.5 million shares traded, was issued with an Unusual Market Activity query by Bursa Malaysia Securities Bhd over the sharp increase in the price and volume of its shares.
DVM gained two sen to 25 sen.
Other actives included Sanichi, Lion Corp, Tricubes, Petronas Chemicals, Bertam, Jotech, KNM, AirAsia and CIMB.
Gainers included Pulai Springs, Tahps, BAT, AirAsia, Kenmark, BLD PLANTATION []s and United Plantations.
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