KLCI plunges 70 pts due to trades keyed by broker

by **Cals** Sun 23 Oct 2011, 13:01

KUALA LUMPUR: Trades keyed in on select FBM KLCI stocks by a broker led to the index plunging 70 points late in the afternoon session on Friday, Oct 21.

However, the index recovered and closed 0.16% or 2.35 points lower at 1,438.83, weighed by losses at select blue chips.

An official from Bursa Malaysia Securities Bhd in an e-mailed statement confirmed that the drop of the index at 4.41pm on Friday was due to trades keyed in by the said broker.

Among the stocks that fell steeply before paring down losses were KLK, DiGi and PPB.

On Bursa Malaysia, gainers edged losers by 366 to 323, while 278 counters traded unchanged. Volume was 1.25 billion shares valued at RM1.09 billion.

Regional markets closed mixed, as most pared down losses and some even closed in positive territory, while European shares rose on hopes decisions to resolve the region's debt crisis would emerge from meetings held by European leaders.

The Shanghai Composite index closed 0.60% lower at 2,317.28 and Japan's Nikkei 225 shed 0.04% to 8,678.89.

Meanwhile, South Korea's Kospi rose 1.84% to 1,838.38, Singapore's Straits Index gained 0.68% to 2,712.41 and Hong Kong's Hang Seng edged up 0.24% to 18,025.72.

Among the major losers on Bursa Malaysia, Genting PLANTATION []s fell 28 sen to RM7.30, Genting down 25 sen to RM9.75, AIC 19 sen to RM1.13, MAHB 18 sen to RM5.52, Parkson 14 sen to RM5.36, HLFG and Malayan Flour Mills down 12 sen each to RM11.28 and RM7.33, UOA Development 11 sen to RM1.59, PPB 10 sen to RM16.70 and Tenaga nine sen to RM5.46.

Gainers included BAT that rose 84 sen to RM44.44, Tasek 25 sen to RM7.80, CMSB 17 sen to RM2.09, UMS 15 sen to RM1.78, Faber 14 sen to RM1.74, Fiamma 13.5 sen to RM1.13, while BLD Plantations and Cocoaland added 12 sen each to RM6.32 and RM2.05.

The actives included TMS, IRCB, GPRO, Harvest Court, MAA and Zelan.