KLCI pares losses at midday

KUALA LUMPUR: The FBM KLCI has narrowed its losses at midday on Thursday as key regional markets fell, but the index is poised to recover as Malaysia's exports in March 2015 rebounded with a 2.3% growth to RM66.47bil, exceeding economists forecast of a 4.2% decline.

At 12.30pm, the KLCI was down 3.97 points to 1,817. Turnover was 831.64 million shares valued at RM704.88mil. There were 279 gainers, 360 decliners and 327 counters unchanged.

Reuters reported Asian stocks fell on Thursday, taking the lead from losses on Wall Street, while a rise in euro zone debt yields amid a global bond rout kept the euro hovering at a two-month peak versus the dollar.

As European deflation fears have ebbed, a seeming reversal of trades linked to the European Central Bank's big quantitative easing has resulted in a sell-off in core European bonds and equities this week, rattling investors across asset classes, it said.

Back home, the International Trade and Industry Ministry (MITI) said on Thursday the exports were higher than the RM64.96bil a year ago and from the RM53.16bil in February 2015.

MITI said March imports rose by 5.8% to RM58.64bil from RM55.43bil a year ago. The imports were also higher than February’s RM48.61bil.

At Bursa Malaysia, Pharma fell 16 sen to RM6.85, BAT 92 sen to RM66.16 and HLFG 26 sen to RM16.48.

Carlsberg fell 14 sen to RM13 and PPB Group 14 sen to RM15.46.

Gainers were BJAuto, up seven sen to RM3.95 and IQGroup 13 sen to RM2.70.

Biport rose 20 sen to RM6.80 and United Plantations 60 sen to RM26.20.

Nikkei 225 fell 1.07% to 19,322.63

Hong Kong Hang Seng Index fell 0.58% to 27,481.28

Shanghai Stock Exchange Composite Index fell 1.41% to 4,169.64

Taiwan Stock Exchange Weighted Index fell 0.91% to 9,728.55

Korea Stock Exchange KOSPI Index fell 0.86% to 2,086.44

Straits Times Index STI fell 0.7% to 3,435.52

Crude oil (WTI) fell 45 cents to US$60.48 and Brent 50 cents to US$67.27.

Spot gold fell US$4.82 to US$1,187.42. 

Crude palm oil fell RM10 to RM2,173.