KLCI extends loss as renewed eurozone worries weigh on global markets

by **hlk** Wed 04 Jan 2012, 19:27

KUALA LUMPUR (Jan 4): The FBM KLCI reversed its earlier gains and
extended its losses on Wednesday as key regional markets retreated on
renewed concerns over the eurozone debt crisis.

The FBM KLCI fell 9.32 points to 1,504.22, down from its intra-day high of 1,525.14.

Losers overtook gainers by 404 to 387, while 318 counters traded
unchanged. Volume was 1.66 billion shares valued at RM1.53 billion.

Asian shares closed mixed, while European shares broke a four-session
rally on Wednesday as concerns over the euro zone's huge refinancing
needs lead investors to cash in on recent gains, according to Reuters.

Banking stocks, many of which are heavily exposed to euro zone debt,
fell 0.9% ahead of a German debt auction later in the session, it said.

At the regional markets, the Shanghai Composite Index fell 1.37% to
2,169.39, Hong Kong's Hang Seng Index lost 0.80% to 18,727.31, and South
Korea's Kospi was down 0.49% to 1,866.22.

Meanwhile, Japan's
Nikkei 225 rose 1.24% to 8,560.11, Taiwan's Taiex up 0.42% to 7,082.97
and Singapore's Straits Times Index added 0.84% to 2,711.02.

On
Bursa Malaysia, Petronas Dagangan lost 44 sen to RM17, Y&G down 24.5
sen to 75.5 sen, HLFG shed 22 sen to RM11.52, APM 20 sen to RM4.30, Mah
Sing'' and UEM Land lost 15 sen each to RM1.95 and RM2.23, CIMB 14 sen
to RM7.10, Ibraco 13 sen to RM1.23 and GAB fell 12 sen to RM13.22.

Among the gainers, Dutch Lady gained 58 sen to RM24, KLK 50 sen to
RM23.50, Batu Kawan 48 sen to RM17.98, BAT 36 sen to RM49.80, BHIC 23
sen to RM3.85, Allianz 18 sen to RM4.94, Lafarge Malayan Cement 16 sen
to RM7.14, Shell 15 sen to RM9.30 while MISC gained 13 sen to RM5.73.

The actives included HWGB, JCY, Hibiscus, Astral Supreme, Maxbiz and Nextnation.