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Plantations, banks weigh on FBM KLCI

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Plantations, banks weigh on FBM KLCI  Empty Plantations, banks weigh on FBM KLCI

Post by hlk Thu 14 Jul 2011, 20:15

KUALA LUMPUR: The FBM KLCI closed marginally lower below the 1,580-point level on Thursday, July 14 in line with the cautious trading at global markets, as a slew of less than encouraging news flow from the US and Europe kept investors on the sidelines.

Asian stocks softened after Moody's warned the United States may lose its top-notch credit rating in the coming weeks, according to Reuters.

The FBM KLCI shed 0.83 point to 1,579.84, weighed by losses including at PLANTATION [] and banking stocks.

Market breadth was negative with 429 losers and 257 gainers, while 346 counters traded unchanged. Volume fell to 713.17 million shares valued at RM1.37 billion from 843.27 million shares valued at RM1.55.

At the regional markets, Japan’s Nikkei 225 fell 0.27% to 9,936.12 and Taiwan’s Taiex shed 0.08% to 8,481.35.

Meanwhile, bargain hunting activities saw the Shanghai Composite Index up 0.54% to 2,810.44, Hong Kong’s Hang Seng Index up 0.06% to 21,940.20, South Korea’s Kospi up 0.02% to 2,130.07 and Singapore’s Straits Times Index up 0.01% to 3,088.70.

Plantation topped the losers on Bursa Malaysia, with United Plantations down RM1.04 to RM20.06, BLD Plantations 21 sen to RM6.41, KLK 20 sen to RM21.90, Sarawak Plantations 12 sen to RM2.29, Batu Kawan eight sen to RM16.70, PPB six sen to RM17.40 and Boustead down five sen to RM5.90.

Among the banking stocks, AFG lost six sen to RM3.48, AMMB five sen to RM6.45, HLFG four sen to RM13.46 while CIMB and RHB Capital fell three sen each to RM8.79 and RM9.03.

Other losers included Muda, Far East, Parkson, NPC and DiGi.

Among the gainers, Petronas Dagangan added 50 sen to RM18.50, Nestle 30 sen to RM47.90, Dutch Lady 20 sen to RM19.20, Hiap Teck 11.5 sen to RM1.03, Kuchai 11 sen to RM1.12, Nilai and Fima Corp 10 sen each to RM1.10 and RM6.20, APM Automotive nine sen to RM4.99 while Mudajaya added eight sen to RM3.42.

Actives included Petronas Chemicals, Muda, Key West, CIMB, Wijaya, Axiata, Kencana and DVM.
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