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Banks, blue chips drag FBM KLCI lower
by hlk Mon 11 Jul 2011, 18:21
KUALA LUMPUR: The FBM KLCI fell on Monday, July 11 as Asian markets mostly closed lower, while European markets were mired in the red in early trade on worries that that Italy could be the next to fall victim to the euro zone debt crisis.
Italian government bonds tumbled and the yield premium investors demand to hold Italian debt over German bunds widened to a fresh euro-era high as focus shifted to a country which has the euro zone's highest sovereign debt ratio relative to its economy after Greece, according to Reuters.
A weaker-than-expected US jobs report on Friday and data showing China's import growth fell to its slowest pace in 20 months also encouraged investors to sell their risky assets, it said.
At the local market, even news of a RM11.85 billion deal involving the merging of KENCANA PETROLEUM BHD [] and SAPURACREST PETROLEUM BHD [] did little to lift investor sentiment.
The FBM KLCI slipped 0.39% or 6.16 points to 1,588.58, weighed by losses at banks and select blue chip stocks.
Losers beat gainers by 460 to 237, while 304 counters traded unchanged. Volume was 712.48 million shares valued at RM1.29 billion.
At the regional markets, Hong Kong’s Hang Seng Index fell 1.67% to 22, 347. 23, Japan’s Nikkei 225 lost 0.67% to 10,069.53, Singapore’s Straits Times Index down 1.08% to 3,117.37, South Korea’s Kospi fell 1.06% to 2,157.16, Taiwan’s Taiex down 0.96% to 8,665.85 while the Shanghai Composite Index edged up 0.18% to 2,802.69.
On Bursa Malaysia, Nestle fell 40 sen to RM46.90, Dutch Lady 28 sen to RM19.08, Metrod 21 sen to RM3.60, Petronas Gas and BAT 20 sen each to RM13.60 and RM46.50, Genting and DiGi 12 sen each to RM11.10 and RM29.88, Gamuda 11 sen to RM3.71 and Genting Malaysia eight sen to RM3.78.
Among the banks, CIMB fell 10 sen to RM8.82, AMMB seven sen to RM6.64, Hong Leong Bank four sen to RM13.70, Public Bank two sen to RM13.34 while Maybank and RHB Capital one sen each to RM8.98 and RM9.04.
Among the gainers, Petronas Dagangan added 32 sen to RM17.42, Pulai Springs 30 sen to 80 sen, Panasonic 20 sen to RM24.32, Muda 18.5 sen to RM1.09, RCI and KLK 14 sen to RM1.88 and RM22.80, while CI Holdings, BIMB and AFG added 11 sen each to RM3.51, RM2.41 and RM3.57 respectively.
The actively traded counters included XDL, Key West, Petronas Chemicals, DVM, CIMB, Axiata, Genting Malaysia and Gamuda.
Italian government bonds tumbled and the yield premium investors demand to hold Italian debt over German bunds widened to a fresh euro-era high as focus shifted to a country which has the euro zone's highest sovereign debt ratio relative to its economy after Greece, according to Reuters.
A weaker-than-expected US jobs report on Friday and data showing China's import growth fell to its slowest pace in 20 months also encouraged investors to sell their risky assets, it said.
At the local market, even news of a RM11.85 billion deal involving the merging of KENCANA PETROLEUM BHD [] and SAPURACREST PETROLEUM BHD [] did little to lift investor sentiment.
The FBM KLCI slipped 0.39% or 6.16 points to 1,588.58, weighed by losses at banks and select blue chip stocks.
Losers beat gainers by 460 to 237, while 304 counters traded unchanged. Volume was 712.48 million shares valued at RM1.29 billion.
At the regional markets, Hong Kong’s Hang Seng Index fell 1.67% to 22, 347. 23, Japan’s Nikkei 225 lost 0.67% to 10,069.53, Singapore’s Straits Times Index down 1.08% to 3,117.37, South Korea’s Kospi fell 1.06% to 2,157.16, Taiwan’s Taiex down 0.96% to 8,665.85 while the Shanghai Composite Index edged up 0.18% to 2,802.69.
On Bursa Malaysia, Nestle fell 40 sen to RM46.90, Dutch Lady 28 sen to RM19.08, Metrod 21 sen to RM3.60, Petronas Gas and BAT 20 sen each to RM13.60 and RM46.50, Genting and DiGi 12 sen each to RM11.10 and RM29.88, Gamuda 11 sen to RM3.71 and Genting Malaysia eight sen to RM3.78.
Among the banks, CIMB fell 10 sen to RM8.82, AMMB seven sen to RM6.64, Hong Leong Bank four sen to RM13.70, Public Bank two sen to RM13.34 while Maybank and RHB Capital one sen each to RM8.98 and RM9.04.
Among the gainers, Petronas Dagangan added 32 sen to RM17.42, Pulai Springs 30 sen to 80 sen, Panasonic 20 sen to RM24.32, Muda 18.5 sen to RM1.09, RCI and KLK 14 sen to RM1.88 and RM22.80, while CI Holdings, BIMB and AFG added 11 sen each to RM3.51, RM2.41 and RM3.57 respectively.
The actively traded counters included XDL, Key West, Petronas Chemicals, DVM, CIMB, Axiata, Genting Malaysia and Gamuda.
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