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China's woes weigh on regional markets, KLCI slips (Update)
by hlk Mon 24 Feb 2014, 15:39
KUALA LUMPUR: Key regional markets including Malaysia's FBM KLCI fell on Monday, led by China on news reports that some banks in China were tightening loans to property developers.
At 12.30pm, the FBM KLCI was down 3.92 points or 0.21% to 1,826.82. Turnover was 1.89 billion shares valued at RM871.30mil. There were 364 gainers, 416 losers and 276 stocks unchanged.
Reuters reported China shares sank to a two-week low early on Monday, dragging Hong Kong markets down, led by property and banking counters as mainland news reports stoked fears that the banks have stopped extending loans to property-related companies.
The ringgit weakened to 3.2980 against the US dollar from 3.2954 the previous close.
At Bursa Malaysia, the major decliners were Petronas Gas, down 36 sen to RM23.14 and erased 1.02 points from the KLCI while Genting Bhd's decline of 18 sen to RM10.18 wiped out 1.43 points.
HLFG lost 20 sen to RM15.64, MISC 10 sen to RM6.30 and Public Bank two sen to RM19.12.
Dutch Lady fell the most, down 60 sen to RM48.
Golsta Synergy gave up most of its Friday gains, down 28 sen to RM2.20 as the conditional mandatory general offer was fixed at RM2.10 a share.
Crude palm oil for third-month futures rose to a high of RM2,775 which was the highest since September 2012.
KL Kepong lost 16 sen to RM23.84 and PPB Group 12 sen to RM16.06 but Sime Darby rose six sen to RM9.08 and IOI Corp five sen to RM4.60.
Fima Corp was the top gainer, rising 40 sen to RM7.35. Bonia rebounded to add 18 sen to RM3.78 while Pos Malaysia snapped its losing streak to add 15 sen to RM4.65.
Among the key regional markets,
Japan's Nikkei 225 fell 1.22% to 14,684.96;
Hong Kong's Hang Seng Index fell 1.28% to 22,278.95;
Shanghai's Composite Index fell 2.03% to 2,070.70
Taiwan's Taiex fell 0.64% to 8,546.83;
South Korea's Kospi fell 0.37% to 1,950.56 and
Singapore's Straits Times Index fell 0.04% to 3,098.79
US light crude oil rose 29 cents to US$102.49 and Brent gained 19 cents to US$110.04.
Spot gold fell US$1.99 to US$1,322.26.
At 12.30pm, the FBM KLCI was down 3.92 points or 0.21% to 1,826.82. Turnover was 1.89 billion shares valued at RM871.30mil. There were 364 gainers, 416 losers and 276 stocks unchanged.
Reuters reported China shares sank to a two-week low early on Monday, dragging Hong Kong markets down, led by property and banking counters as mainland news reports stoked fears that the banks have stopped extending loans to property-related companies.
The ringgit weakened to 3.2980 against the US dollar from 3.2954 the previous close.
At Bursa Malaysia, the major decliners were Petronas Gas, down 36 sen to RM23.14 and erased 1.02 points from the KLCI while Genting Bhd's decline of 18 sen to RM10.18 wiped out 1.43 points.
HLFG lost 20 sen to RM15.64, MISC 10 sen to RM6.30 and Public Bank two sen to RM19.12.
Dutch Lady fell the most, down 60 sen to RM48.
Golsta Synergy gave up most of its Friday gains, down 28 sen to RM2.20 as the conditional mandatory general offer was fixed at RM2.10 a share.
Crude palm oil for third-month futures rose to a high of RM2,775 which was the highest since September 2012.
KL Kepong lost 16 sen to RM23.84 and PPB Group 12 sen to RM16.06 but Sime Darby rose six sen to RM9.08 and IOI Corp five sen to RM4.60.
Fima Corp was the top gainer, rising 40 sen to RM7.35. Bonia rebounded to add 18 sen to RM3.78 while Pos Malaysia snapped its losing streak to add 15 sen to RM4.65.
Among the key regional markets,
Japan's Nikkei 225 fell 1.22% to 14,684.96;
Hong Kong's Hang Seng Index fell 1.28% to 22,278.95;
Shanghai's Composite Index fell 2.03% to 2,070.70
Taiwan's Taiex fell 0.64% to 8,546.83;
South Korea's Kospi fell 0.37% to 1,950.56 and
Singapore's Straits Times Index fell 0.04% to 3,098.79
US light crude oil rose 29 cents to US$102.49 and Brent gained 19 cents to US$110.04.
Spot gold fell US$1.99 to US$1,322.26.
hlk- Moderator
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