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KL shares open lower on profit taking
by hlk Thu 11 Aug 2011, 12:37
Share prices on Bursa Malaysia were lower in early trade today on profit taking activities after a technical rebound
yesterday, tracking overnight losses on Wall Street, dealers said.
They said the rebound was short-lived as fears on European debt crisis continued to influence investors' strategy by turning to less riskier assets or investments like gold.
At 9.26am, the FBM KLCI dropped 16.31 points or 1.102 per cent to 1,464.21, dragged down by losses mostly in Maybank, which currently the top contributor to the benchmark index's weightage. Maybank lost 17 sen to RM8.37.
Earlier, the benchmark index opened 13.29 points lower at 1,467.23 compared to yesterday's close of 1,480.52.
The Finance Index lost 188.471 points to 13,940.72, the Plantation Index dropped 99.07 points to 7,119.97 and the Industrial Index decreased 27.59 points
to 2,657.68.
The FBM Emas Index was 131.529 points higher at 9,983.9, the FBM Ace Index declined 43.57 points to 3,720.95, the FBMT 100 Index slashed 125.569 points to 9,815.45 and the FBM70 Index dropped 204.511 points to 10,816.77.
Losers led gainers by 462 to 42 while 86 counters were unchanged, 908 untraded and 36 others suspended. A total of 126.092 million shares worth RM186.628 million changed hands.
HwangDBS Vickers Research, in its research note, said investors would be looking to dump shares across the region today after major US equity indices plunged between 4.1 per cent and 4.6 per cent last night.
"Essentially, market sentiment was hit hard amid mounting worries that there would be spillover effects from possible fallout from the prevailing European debt crisis," it said.
The FBM KLCI could tumble towards the support zone of 1,415 to 1,435 ahead, said the research house.
Meanwhile, the price of gold as of today was RM175.06 per gramme compared to yesterday's of RM169.20. Leading the active counters was AirAsia which declined 17 sen to RM3.37, followed by I-Power that edged up half a sen to 2.5 sen.
CIMB declined 11 sen to RM8.03, Sime Darby dropped 12 sen to RM8.70 and Petronas Chemicals slipped two sen to RM6.17. -- Bernama
yesterday, tracking overnight losses on Wall Street, dealers said.
They said the rebound was short-lived as fears on European debt crisis continued to influence investors' strategy by turning to less riskier assets or investments like gold.
At 9.26am, the FBM KLCI dropped 16.31 points or 1.102 per cent to 1,464.21, dragged down by losses mostly in Maybank, which currently the top contributor to the benchmark index's weightage. Maybank lost 17 sen to RM8.37.
Earlier, the benchmark index opened 13.29 points lower at 1,467.23 compared to yesterday's close of 1,480.52.
The Finance Index lost 188.471 points to 13,940.72, the Plantation Index dropped 99.07 points to 7,119.97 and the Industrial Index decreased 27.59 points
to 2,657.68.
The FBM Emas Index was 131.529 points higher at 9,983.9, the FBM Ace Index declined 43.57 points to 3,720.95, the FBMT 100 Index slashed 125.569 points to 9,815.45 and the FBM70 Index dropped 204.511 points to 10,816.77.
Losers led gainers by 462 to 42 while 86 counters were unchanged, 908 untraded and 36 others suspended. A total of 126.092 million shares worth RM186.628 million changed hands.
HwangDBS Vickers Research, in its research note, said investors would be looking to dump shares across the region today after major US equity indices plunged between 4.1 per cent and 4.6 per cent last night.
"Essentially, market sentiment was hit hard amid mounting worries that there would be spillover effects from possible fallout from the prevailing European debt crisis," it said.
The FBM KLCI could tumble towards the support zone of 1,415 to 1,435 ahead, said the research house.
Meanwhile, the price of gold as of today was RM175.06 per gramme compared to yesterday's of RM169.20. Leading the active counters was AirAsia which declined 17 sen to RM3.37, followed by I-Power that edged up half a sen to 2.5 sen.
CIMB declined 11 sen to RM8.03, Sime Darby dropped 12 sen to RM8.70 and Petronas Chemicals slipped two sen to RM6.17. -- Bernama
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