Genting, CIMB weigh on KLCI, Asian markets in the red

KUALA LUMPUR: All key Asian markets were in the red at midday on
Tuesday as investors decided to lock in gains from Monday's surge, as
they turned cautious about the 100bil euro lifeline for Spain's banks.
At Bursa Malaysia, Genting Bhd, CIMB
and BAT were the main drag on the FBM KLCI. The flip-flop in market
sentiment was because investors were not fully convinced the debt
crisis in Europe could be contained.
Reuters reported markets
worried the weekend deal could further aggravate Spain's rising public
debt. Attention is turning to problems in Italy and a June 17 election
in Greece that could determine its fate within the common currency bloc.
At
12.30pm, the FBM KLCI was down 3.76 points or 0.22% to 1,574.65.
Turnover was 333.86 million shares valued at RM365.50mil. There were
140 gainers, 373 losers and 292 stocks unchanged.
Among the key
regional markets, Japan's Nikkei 225 fell 0.74% to 8,561.43; Hong
Kong's Hang Seng Index slipped 0.64% to 18,833,23; Shanghai's Composite
Index 0.8% to 2,287.44; South Korea's Kospi 0.53% 1,857.06; Taiwan's
Taiex 0.71% to 7,069.76 and Singapore's Straits Times Index 0.32% lower
at 2,778.90.
US light crude oil fell 56 cents to US$82.15; Brent
28 cents lower at US$97.72 while the ringgit weakened to 3.1685 against
the US dollar.
Crude palm oil (CPO) futures for third-month delivery fell RM16 to RM2,973.
Among the plantations, PPB fell 22 sen to RM15.76, Sungai Bagan 10 sen to RM2.80 and BLD Plantations nine sen lower at RM7.58.
Among
the index-linked stocks, Genting fell seven sen to RM9.51, dragging the
KLCI down 0.61 of a point. CIMB fell three sen to RM7.48, erasing 0.53%
off the index.
BAT was the top loser, down RM1.16 to RM54.84, PetGas 18 sen to RM17.82 and Bursa nine sen to RM6.06.
Luster-WA
was the most active with 469.43 million units done, unchanged at 3.5
sen. The shares fell 4.5 sen to nine sen with 27.84 million units done.
Gas Malaysia inched up one sen to RM2.43 with 8.17 million shares.
Petronas Dagangan rose the most, up 18 sen to RM21.30, Amway eight sen to RM9.70, Ekovest and Public Bank foreign eight sen higher to RM2.55 and RM13.70.

I bought unit trust new fund that invest mainly in Genting and CIMB