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Banks lead KLCI lower amid weaker broader market
by Cals Thu 05 Sep 2013, 01:31
Published: Wednesday September 4, 2013 MYT 5:15:00 PM
Updated: Wednesday September 4, 2013 MYT 5:35:01 PM
Banks lead KLCI lower amid weaker broader market
KUALA LUMPUR: Stocks on Bursa Malaysia closed broadly lower on Wednesday amid investors’ concerns about the outlook for the Malaysian economy as they awaited more measures from the government.
The continued selling of Malaysian equities, though it had abated, continued to drag down the counters despite some support from local funds. There are rising concerns of how more portfolio funds would leave Malaysia amid the weakening ringgit also.
At 5pm, the FBM KLCI fell 7.45 points to 1,716.76. Turnover was 1.47 billion valued at RM1.81bil. There were 277 gainers, 431 decliners and 292 counters unchanged.
Reuters reported Asian stocks broke a four-day winning streak on Wednesday while safe-haven bets such as gold consolidated overnight gains as US lawmakers' growing support for military action against Syria sapped investor demand for riskier assets.
At Bursa Malaysia, consumer stocks were mixed with BAT down 72 sen to RM60.82, Carlsberg 30 sen to RM12.62 but Dutch Lady rose 48 sen to RM47.58.
PetDag fell 24 sen to RM26.72 but PetGas rose 22 sen to RM20.30.
Among banks, Hong Leong fell 18 sen to RM13.78, Maybank 19 sen to RM9.83, HLFG four sen to RM14.48, RHB Cap four sen to RM7.24 but AMMB rose one sen to RM7.44.
Puncak Niaga and its warrants rose 20 sen to RM2.83 and RM2.14 each.
Crude palm oil fell Rm14 to RM2,403.
The ringgit strengthened against the dollar at 3.2850 from 3.2863 the previous close.
Among the key regional markets,
Japan’s Nikkei 225 rose 0.54% to 14,053.87;
Hong Kong’s Hang Seng Index fell 0.31% to 22,326.22;
Shanghai’s Composite Index rose 0.21% to 2,127.62;
Taiwan’s Taiex fell 0.06% to 8,083.44;
South Korea’s Kospi fell 0.04% to 1,933.03;
Singapore’s Straits Times Index fell 1.09% to 3,021.53.
US light crude oil fell 51 cents to US$108.05 and Brent two cents to US$115.66.
Spot gold fell US$6.63 to US$1,405.79
Updated: Wednesday September 4, 2013 MYT 5:35:01 PM
Banks lead KLCI lower amid weaker broader market
KUALA LUMPUR: Stocks on Bursa Malaysia closed broadly lower on Wednesday amid investors’ concerns about the outlook for the Malaysian economy as they awaited more measures from the government.
The continued selling of Malaysian equities, though it had abated, continued to drag down the counters despite some support from local funds. There are rising concerns of how more portfolio funds would leave Malaysia amid the weakening ringgit also.
At 5pm, the FBM KLCI fell 7.45 points to 1,716.76. Turnover was 1.47 billion valued at RM1.81bil. There were 277 gainers, 431 decliners and 292 counters unchanged.
Reuters reported Asian stocks broke a four-day winning streak on Wednesday while safe-haven bets such as gold consolidated overnight gains as US lawmakers' growing support for military action against Syria sapped investor demand for riskier assets.
At Bursa Malaysia, consumer stocks were mixed with BAT down 72 sen to RM60.82, Carlsberg 30 sen to RM12.62 but Dutch Lady rose 48 sen to RM47.58.
PetDag fell 24 sen to RM26.72 but PetGas rose 22 sen to RM20.30.
Among banks, Hong Leong fell 18 sen to RM13.78, Maybank 19 sen to RM9.83, HLFG four sen to RM14.48, RHB Cap four sen to RM7.24 but AMMB rose one sen to RM7.44.
Puncak Niaga and its warrants rose 20 sen to RM2.83 and RM2.14 each.
Crude palm oil fell Rm14 to RM2,403.
The ringgit strengthened against the dollar at 3.2850 from 3.2863 the previous close.
Among the key regional markets,
Japan’s Nikkei 225 rose 0.54% to 14,053.87;
Hong Kong’s Hang Seng Index fell 0.31% to 22,326.22;
Shanghai’s Composite Index rose 0.21% to 2,127.62;
Taiwan’s Taiex fell 0.06% to 8,083.44;
South Korea’s Kospi fell 0.04% to 1,933.03;
Singapore’s Straits Times Index fell 1.09% to 3,021.53.
US light crude oil fell 51 cents to US$108.05 and Brent two cents to US$115.66.
Spot gold fell US$6.63 to US$1,405.79
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