KLCI closes lower but narrows losses

KUALA LUMPUR (Dec 13): The FBM KLCI narrowed its losses on Tuesday,
but investor sentiment across the region remained jittery as the
Eurozone debt crisis and fear of credit downgrades in that region kept
investors on the sidelines.

The FBM KLCI close 1.71 points lower at 1,465.39. The index had earlier fallen to its intra-morning low of 1,457.31.

Losers edged gainers by 386 to 344, while 315 counters traded
unchanged. Volume was 1.83 billion shares valued at RM1.39 billion.

Meanwhile, European shares rose on Tuesday as investors bought up
beaten-down stocks following sharp falls on Monday after a plan outlined
at last week's EU summit for stricter budget rules failed to ease
worries about the region's debt crisis, according to Reuters.

Gains, however, are likely to be short-lived on concern about credit
downgrades after Moody's Investors Service said its ratings for all EU
member states would be reviewed in the first quarter of 2012 as well as
eight Spanish banks, it said.

Also, market activity is likely to be subdued ahead of the release of
US retail sales for November due out later and the outcome of the
Federal Reserve's FOMC meeting, though no change in U.S. interest rates
is expected, it said.

At the regional markets, the Shanghai Composite Index fell 1.87% to
2,248.59, South Korea’s Kospi lost 1.88% to 1,864.06, Japan’s Nikkei was
down 1.17% to 3,292.79, Taiwan’s Taiex lost 0.76% to 6,896.31, Hong
Kong’s Hang Seng Index fell 0.69% to 18,447.17 and Singapore’s Straits
Times Index xxx

On Bursa Malaysia, JobStreet was the top loser and fell 28 sen to
RM2.50; PPB lost 24 sen to RM16.36, NSOP down 20 sen to RM5.36, Genting
19 sen to RM10.64, Guan Chong 15 sen to RM2.15, DKSH 14 sen to RM1.59,
Sungei Bagan and Genting PLANTATION []s 13 sen each to RM2.82 and RM8.15, while MISC was down 12 sen to RM5.48.

Sanichi was the most actively traded counter with 170.3 million shares done. The stock added 5.5 sen to 23 sen.

Other actives included Utopia, Proton, warratnts of MAS, BIMB, MBSB and Affin respectively.

Among the gainers, BAT added RM1.50 to RM48.70, GAB and KLK up 70 sen
each to RM12.98 and RM23.10, Dutch Lady 42 sen to RM26.40, HLFG 38 sen
to RM11.70, Carlsberg 31 sen to RM8.46, Orient 29 sen to RM5.30, JT
International 24 sen to RM6.92, F&N 22 sen to RM18.22 and Petronas
Dagangan 20 sen to RM17.38.