Business News

Published: Tuesday February 5, 2013 MYT 12:00:00 AM
Updated: Wednesday April 17, 2013 MYT 1:30:23 AM

Key markets fall, KLCI dragged lower by CIMB, Genting

KUALA LUMPUR: Key regional markets fell at midday on Tuesday as investors took profit while at Bursa Malaysia, the broader market continued to reflect the cautious sentiment.

At 12.30pm, the FBM KLCI was down 2.46 points or 0.15% to 1,632.09, dragged down by CIMB and Genting Bhd. Turnover was 440.70 million shares valued at RM546.49mil. Losers beat gainers 373 to 131 while 294 counters were unchanged.

Hwang DBS Vickers Research said from a technical perspective, the KLCI could back off from the immediate resistance level of 1,635 towards the psychological support mark of 1,600 ahead.

Reuters reported Asian shares slid as investors saw opportunities to cash in from recent strong rallies in the face of weak US data and worries that a potential political shake-up could disrupt the eurozone's efforts to resolve its debt crisis.

The MSCI's broadest index of Asia-Pacific shares outside Japan tumbled 0.8%.

Among the key regional markets, Japan's Nikkei 225 fell 1.69% to 11,070.31; Hong Kong's Hang Seng Index lost 1.69% to 23,285.29 and Shanghai's Composite Index gave up 0.42% to 2,417.93.

Taiwan's Taiex was down 0.58% to 7,876.96 and South Korea's Kospi declined 0.55% to 1,942.49 while Singapore's Straits Times Index fell 0.82% to 3,270.18.

Crude palm oil for third-month futures fell RM20 to RM2,546 while the ringgit strengthened to 3.0919 from 3.0950 in the previous close. Sime Darby, PPB Group and KL Kepong lost two sen each to RM9.28, RM12.42 and RM21.64. SOP was down nine sen to RM5.60.

CIMB fell six sen to RM7.19 and dragged the KLCI down 1.03 points while genting Bhd lost eight sen to RM9.53 and erased 0.68 of a point. Public Bank rose two sen to RM15.62 and Maybank one sen to RM8.98.

TM fell six sen to RM5.48, Axiata two sen to RM6.28 and DiGi one sen to RM4.91.

Tasek was the top loser, down 26 sen to RM14.04. Among consumer stocks, Dutch lady lost 20 sen to RM42.06, F&N 10 sen to RM18 but BAT rose 20 sen to RM59.

UMW added 14 sen to RM12.20, MSM seven sen to RM4.96 and Top Glove six sen to RM5.50.

US light crude oil fell 10 cents to US$96.07 and Brent 45 cents lower at US$115.15. Spot gold inched up 82 cents to US$1,675.12.

Tags / Keywords: News, Business, Key regional markets, Bursa Malaysia, cautious sentiment, Business

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