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KLCI closes weaker in volatile trade (Update)
by Cals Tue 11 Jun 2013, 18:13
KLCI closes weaker in volatile trade (Update)
By Joseph Chin
KUALA LUMPUR: Malaysia's FBM KLCI closed lower in volatile trade on Tuesday, mirroring the weaker key regional markets and European bourses as investors worried whether the US Fed would cut back its stimulus programe.
At 5pm, the KLCI was down 8.23 points or 0.46% to 1,779.57. Turnover was 2.23 billion shares valued at RM2.55bil. Declining stocks beat advancers 598 to 255 while 282 counters were unchanged.
The ringgit slumped against the US dollar to the lowest since July 31, 2012. It was trading at 3.1500 versus the previous close of 3.1285.
Reuters reported the yen jumped against the dollar, shares sagged and German Bund prices followed Japanese bonds lower on Tuesday after the Bank of Japan disappointed investors by deciding not to implement further stimulus measures.
Worries over slowing growth in China, the world's second-biggest economy, and the start of a hearing in Germany's top court about the legality of the European Central Bank's bond-buying scheme also kept investors in cautious mood, said the wire report.
At Bursa Malaysia, Petronas Dagangan fell 96 sen to RM25.14 and Petronas Gas lost 32 sen to RM21.06. Their losses wiped out two points from the index.
Among the consumer stocks, BAT lost 96 sen to RM62.60 and GAB 34 sen to RM21.20.
Crude palm oil (CPO) for third month delivery fell RM4 to RM2,449. Genting Plantations fell the most, sliding 24 sen to RM9.56. PPB Group fell 14 sen to RM13.90 and IOI Corp seven sen to RM5.42.
Among the banks, HLFG lost 18 sen to RM14.64, AMMB nine sen to RM7.33 and CIMB eight sen to RM8.19. However, Maybank and Public Bank added four sen each to RM10.48 and RM17.06.
Among the bigger property companies, Selangor Properties and SP Setia lost 18 sen each to RM4.07 and RM3.42 while UEM Land was down 12 sen to RM3.24.
Among the key regional markets:
Japan's Nikkei 225 fell 1.45% to 13,317.62;
Hong Kong's Hang Seng Index fell 1.2% to 21,354.66;
Taiwan's Taiex fell 0.54% to 8,116.15;
South Korea's Kospi fell 0.62% to 1,920.68; and
Singapore's Straits Times Index fell 0.94% to 3,170.38.
US light crude oil was down 23 cents to US$95.54 while Brent 38 cents to US$103.55.
Spot gold lost US$15.31 to US$1,371.19.
By Joseph Chin
KUALA LUMPUR: Malaysia's FBM KLCI closed lower in volatile trade on Tuesday, mirroring the weaker key regional markets and European bourses as investors worried whether the US Fed would cut back its stimulus programe.
At 5pm, the KLCI was down 8.23 points or 0.46% to 1,779.57. Turnover was 2.23 billion shares valued at RM2.55bil. Declining stocks beat advancers 598 to 255 while 282 counters were unchanged.
The ringgit slumped against the US dollar to the lowest since July 31, 2012. It was trading at 3.1500 versus the previous close of 3.1285.
Reuters reported the yen jumped against the dollar, shares sagged and German Bund prices followed Japanese bonds lower on Tuesday after the Bank of Japan disappointed investors by deciding not to implement further stimulus measures.
Worries over slowing growth in China, the world's second-biggest economy, and the start of a hearing in Germany's top court about the legality of the European Central Bank's bond-buying scheme also kept investors in cautious mood, said the wire report.
At Bursa Malaysia, Petronas Dagangan fell 96 sen to RM25.14 and Petronas Gas lost 32 sen to RM21.06. Their losses wiped out two points from the index.
Among the consumer stocks, BAT lost 96 sen to RM62.60 and GAB 34 sen to RM21.20.
Crude palm oil (CPO) for third month delivery fell RM4 to RM2,449. Genting Plantations fell the most, sliding 24 sen to RM9.56. PPB Group fell 14 sen to RM13.90 and IOI Corp seven sen to RM5.42.
Among the banks, HLFG lost 18 sen to RM14.64, AMMB nine sen to RM7.33 and CIMB eight sen to RM8.19. However, Maybank and Public Bank added four sen each to RM10.48 and RM17.06.
Among the bigger property companies, Selangor Properties and SP Setia lost 18 sen each to RM4.07 and RM3.42 while UEM Land was down 12 sen to RM3.24.
Among the key regional markets:
Japan's Nikkei 225 fell 1.45% to 13,317.62;
Hong Kong's Hang Seng Index fell 1.2% to 21,354.66;
Taiwan's Taiex fell 0.54% to 8,116.15;
South Korea's Kospi fell 0.62% to 1,920.68; and
Singapore's Straits Times Index fell 0.94% to 3,170.38.
US light crude oil was down 23 cents to US$95.54 while Brent 38 cents to US$103.55.
Spot gold lost US$15.31 to US$1,371.19.
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