KLCI, key regional markets end week in the red

KUALA LUMPUR: Key regional markets including Bursa Malaysia ended the week on Friday in the red as investors were rattled by the euro zone worries and shocking trade loss from JPMorgan.

Commodities ranging from oil to gold and crude palm oil also fell.

At the close, the FBM KLCI fell 3.74 points to 1,584.32. Turnover was 1.11 billion shares valued at RM1.21bil. Losers beat gainers 476 to 234 while 332 stocks were unchanged.

Reuters reported that the deepening euro zone political turmoil and weak economic data from China raised growth concerns, while a shock trading loss from JPMorgan added to market jitters.

Hong Kong's Hang Seng Index closed down 1.3% at 19,964.63, off 5.32% for the week. The China Enterprises Index of top mainland listings in Hong Kong finished down 1.43% at 10,143.07, ending the week 6.79% lower.

The CSI300 Index of Shanghai- and Shenzhen-listed stocks ended down 0.76 percent at 2,636.92. This week, it lost 2.91 percent, the worst weekly performance in six weeks.

Japan's Nikkei 225 fell 0.63% to 8,953.31, Tawain's Taiex Index 1.1% to 7,401.37 and South Korea's Kospi 1.43% to 1,917.13. Singapore's Straits Times Index shed 0.7% to 2,883.4.

Among the commodities, US light crude oil fell 94 cents to US$96.14, Brent 90 cents to US$111.83 while US spot gold lost US$15.66 to US$1,578.35. Crude palm oil third-month futures fell RM54 to RM3,295.

The ringgit weakened against the US dollar to 3.0709 from 3.0680 on Thursday.

At Bursa Malaysia, the KLCI fell as much as 14 points about 3pm following a trading error in the sale of KLK shares. Dealers said that more than 447,000 shares of KLK were sold at RM17, or 27.6% below Thursday's close of RM23.50.

However, the KLCI managed to recover off the low several minutes later. KLK closed just four sen down to RM23.46.

Genting fell 18 sen to RM10.50, dragging the KLCI down 1.57 points, PPB shed 32 sen to RM16.16, dragging the index down by 0.59 of a point. HL Bank fell 12 sen to RM12.06, erasing 0.28 of a point.

BAT was the top loser, down 60 sen to RM53.40, UtdPlt 56 sen to RM25.94 and GAB 28 sen to RM13.34 while F&N lost 24 sen to RM18.80.