KLCI extends losses, investors cautious

  • Business
  • Wednesday, 25 Sep 2013

KUALA LUMPUR: The FBM KLCI ended Wednesday morning's session down slightly more than seven points by losses in select blue chips, in tandem with the cautious Asian markets as investors were worried about the Fed’s policy outlook.

At 12.30pm, the KLCI fell 7.09 points to 1,785.39. Turnover was 1.28 billion valued at RM833.53mil. There were 313 gainers, 350 decliners and 274 counters unchanged.

Reuters reported Asian shares slipped and the dollar held steady against a basket of currencies in Asian trade on Wednesday, as concerns about a possible US government shutdown and uncertainty about the Federal Reserve's policy outlook left investors hesitant to take aggressive positions.

Tea Party-backed US senators are threatening to stall a bill to fund the US Government.

At Bursa Malaysia, consumer stocks fell with BAT down RM1.24 to RM63.56 and Dutch Lady 42 sen to RM46.56.

Among banks, HLFG fell 18 sen to RM15.02, RHB Cap 14 sen to RM7.84, CIMB 11 sen to RM7.79, Maybank eight sen to RM9.89, Public Bank six sen to RM17.82, Hong Leong Bank four sen to RM14.32 and AMMB four sen to RM7.45.

Crude palm oil rose RM7 to RM2,308. PPB Group fell 12 sen to RM14.32 but KL Kepong rose two sen to RM22.80 and Sime Darby one sen to RM9.51.

Petronas stocks rose with PetDag up 20 sen to RM28.98, PetGas two sen to RM22 and PetChem two sen to RM6.92.

Narra  rose15 sen to RM1.77 and KSeng 11 sen to RM5.77

Among the key regional markets,

Japan’s Nikkei 225 fell 0.25% to 14,696.43;

Hong Kong’s Hang Seng Index rose 0.13% to 23,210.24;

Shanghai’s Composite Index rose 0.27% to 2,213.39;

Taiwan’s Taiex fell 0.27% to 8,276.85;

South Korea’s Kospi fell 0.55% to 1,996.15;

Singapore’s Straits Times Index rose 0.22% to 3,218.69

US light crude oil rose 15 cents to US$103.29 and Brent rose 11 cents to US$108.75.

Spot gold rose US$1.89 to US$1,325.16.



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