China slowdown hurts markets, KLCI down nearly 21 pts

by **hlk** Thu 20 Sep 2012, 15:41

KUALA LUMPUR: Asian markets including the FBM KLCI fell on Thursday
after manufacturing data from China showed the economy was slowing
further in the third quarter.
At 12.30pm, the KLCI was down
20.56 points or 1.25% to 1,625.55. Turnover was 466.62 million shares
valued at RM558.48mil. Declining stocks beat advancers nearly three to
one, with 426 losers, 145 gainers and 284 counters unchanged.
Reuters
reported Asian shares extended losses on Thursday after data indicated
little respite for Chinese manufacturers. The losses among the key
markets were between 0.47% and 1.38%.
The report said the HSBC
flash PMI ticked up to 47.8 in September from a nine-month low in
August of 47.6. Since the index remained below 50, it indicated the
sector was still contracting. An output index hit its lowest level in
10 months.
Among the key regional markets, Japan's Nikkei 225
fell 1.38% to 9,104.48; Hong Kong's Hang Seng Index lost 0.49% to
20,739.47; Shanghai's Composite Index fell 1.10% to 2,045.12; Taiwan's
Taiex lost 0.83% to 7,717.22; South Korea's Kospi fell 0.76% to
1,992.58 and Singapore's Straits Times Index gave up 0.47% to 3,061.06.
US light crude oil fell 85 cents to US$91.13 and Brent 19 cents lower at US$108 while spot gold lost US$4.40 to US$1,765.90.
The ringgit was quoted at 3.0654 to the US dollar.
Exports
of Malaysian palm oil products for Sept. 1-20 rose 14.6 percent to
928,110 tonnes from 809,814 tonnes shipped during Aug 1-20, Reuters
quoted cargo surveyor Intertek Testing Services saying on Thursday.
Crude palm oil for third-month futures fell RM5 to RM2,854. PPB Group fell 14 sen to RM12 and KLK 10 sen to RM22.14 but Tradewinds Plantations rose four sen to RM4.45.
Axiata fell 23 sen to RM6.05 and dragged the KLCI down 4.53 points whuile CIMB lost 20 sen to RM7.49, erasing 3.47 points off the KLCI. However, Maybank rose three sen to RM9.17
Petronas Dagangan lost 16 sen to RM21.96, UMW 13 sen to RM9.99 while Genting Malaysia fell 11 sen to RM3.58 and Genting Bhd 10 sen to RM8.92.
Tasek
was the top loser, down 26 sen to RM10.32, Dutch Lady lost 22 sen to
RM42 and LPI 14 sen lower at RM13.54. Among the small cap stocks, Ajinomoto lost 17 sen to RM4.12 and Naka 16 cen to 68.5 sen.
Nestle was the top gainer, up 20 sen to RM62.20 while MMHE added five sen to RM4.83.