Mid-morning Market KLCI remains in the red as regional markets stay tepid

Mid-morning Market KLCI remains in the red as regional markets stay tepid
Business & Markets 2013
Written by Surin Murugiah of theedgemalaysia.com
Wednesday, 12 June 2013 10:14


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KUALA LUMPUR (June 12): The FBM KLCI remained in the red at mid-morning on Wednesday, in line with key regional markets that stated tepid after the lower overnight close at Wall Street and European markets.

At 10.01am, the FBM KLCI fell 3.37 points to 1,776.66.

Losers beat gainers by 260 to 157, while 217 counters traded unchanged. Volume was 269.03 million shares valued at RM251.59 million.

The top losers included BAT, Petronas Dagangan, F&N. PPB and UMW.

The actives included MAS, Nextnation, Luster, Malton and Tanjung Offshore.

The gainers meanwhile, included TN Logistics, Delloyd, Aeon Credit, Favelle Favco and PR Lexus.

Meanwhile, Japanese stocks slumped further on Wednesday, joining a global selloff in equities and commodities as investors were rattled by the absence of fresh steps from the Bank of Japan to calm turbulence in the domestic bond market, according to Reuters.

U.S. stocks slipped in a volatile session while European shares fell to six-weeks lows on Tuesday on concern that central bank support for markets was turning more cautious, as the BOJ's move came amid persistent speculation about the U.S. Federal Reserve toning down its strong stimulus later in the year, it said.