KLCI lower at midday on weak China data


  • Business
  • Wednesday, 12 Mar 2014

KUALA LUMPUR: The FBM KLCI ended Wednesday’s midday session lower as blue chips continued to fall on weak China economic data and the uncertain regional markets sentiment.

At 12.30pm, the KLCI fell 9.93 points or 0.54% to 1,818.62. Turnover was 829.12 million shares valued at RM964.53mil. There were 221 gainers, 414 decliners and 319 counters unchanged.

Reuters reported Asian stock markets swung lower on Wednesday as economic uncertainty in China and the United States combined with political tensions in Ukraine to keep investors cautious and commodities under a dark cloud.

Copper grabbed the headlines as Shanghai futures fell 5% to their lowest since 2009 amid concerns about the potential unraveling of loan deals where the industrial metal has been used as collateral.

At Bursa Malaysia, Petronas-linked stocks fell with PetGas down 44 sen to RM23.06, PetDag 28 sen to RM30 and PetChem seven sen to RM6.66.

PetGas weighed the index by 1.57 points.

MAHB fell 21 sen to RM7.91.

Gainers were MKH, up 12 sen to RM4.22, TSH 12 sen to RM3.38 and Merge 11.5 sen to 62.5 sen.

Among the key regional markets,

Japan’s Nikkei 225 fell 2.02% to 14,915.9;

Hong Kong’s Hang Seng Index fell 1.59% to 21,916.59;

Shanghai’s Composite Index fell 0.6% to 1,989.12;

Taiwan’s Taiex fell 0.46% to 8,662.64;

South Korea’s Kospi fell 1.25% to 1,939.23;

 Singapore’s Straits Times Index fell 0.54% to 1,818.62.

 Crude palm oil for third-month futures fell RM19 to RM2,853. 

The ringgit weakened against the dollar at 3.2893 from 3.2804 the previous close.

US light crude oil fell 58 cents to US$99.45 and Brent fell 27 cents to US$108.28.

Spot gold rose US$8.64 to US$1,357.65.

 

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