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Published: Tuesday November 27, 2012 MYT 10:03:00 AM
Updated: Tuesday November 27, 2012 MYT 11:24:11 AM

KLCI slides near 1,600-level

KUALA LUMPUR: The benchmark FBM KLCI continued to slide towards the psychologically-important 1,600 level in early morning trade on Tuesday on heightened selling and the lack of positive catalysts from Wall Street.

At 9.30am, the 30-stock gauge fell 0.23% or 3.32 points to 1,604.23 with 155.86 million shares transacted worth RM64.76mil.

Losers topped gainers 60 to 134, while 163 counters remained unchanged.

Shares of SAAG Consolidated (M) Bhd were the most active after news that the counter would be suspended until further notice come Friday. It had on Monday received a notice of default from AmBank (M) Bhd for RM94.22mil as at Sept 30, together with interest.

The morning's top gainers were Nestle up 7.2 sen to RM59.70, British American Tobacco 52 sen to RM56.10 and Johore Tin-WA three sen to 30.5 sen.

The losers included Dutch Lady which lost seven sen to RM43, Aeon Credit down three sen to RM11.52 and Allianz-PA fell 21 sen to RM7.20.

Regional markets, however, strengthened, with Japan's Nikkei 225 gaining 0.48% to 9,433.81; Hong Kong's Hang Seng Index 0.6% to 21,993.9; South Korea's Kospi 0.99% to 1,927.44; and Singapore's Straits Times Index 0.21% to 3,010.9.

Shanghai's Composite Index was the only regional bellwether losing steam, down 0.29% to 2,011.54.

In commodities, crude oil added 0.28% to US$87.99 and spot gold 0.07% to US$1,749.88.

The ringgit was stronger against the US dollar at RM3.278.

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