Pedestrians walk in front of a share prices board showing the numbers on the Nikkei 225 at the Tokyo Stock Exchange in Tokyo on September 29, 2015. Tokyo's benchmark Nikkei index dived 4.05 percent on September 29, extending a global equities rout on fears over China's economy and a drop in commodity prices. AFP PHOTO
KUALA LUMPUR: Key Asian markets closed in the red on Tuesday, impacted by fears over China’s economy and a rout in hard commodity prices, while at Bursa Malaysia, banks led the FBM KLCI lower.
At 5pm, the KLCI was down 5.11 points or 0.32% to 1,603.32. Turnover was 1.69 billion shares valued at RM1.97bil. Decliners beat advancers 598 to 227 while 265 counters unchanged.
Hong Kong stocks tumbled 3% to a two-year low as growing fears of a sharp slowdown in the world economy sparked heavy selling, particularly in energy and commodity related shares, Reuters reported.
The Hang Seng index fell 3% to 20,556.60, its lowest close since July 2013. The China Enterprises Index, which tracks Chinese companies listed in Hong Kong, also lost 3.0% to 9,230.50.
The ringgit was also not spared as it weakened against the major currencies. It fell to a fresh 1997-98 low against the US dollar to 4.3025 at 5pm while it hit 6.6422 to the pound sterling and at 3.0716 against the Singapore unit.
Banks were the main decliners on Bursa Malaysia, with Hong Leong Bank down 16 sen to RM13.06, RHB Capital lost 14 sen to RM5.88, CIMB 10 sen to RM4.53, Public Bank six sen to RM17.42, AmBank three sen to RM4.55 and Maybank shed one sen to RM8.39.
US light crude oil rose 41 cents to US$44.84 and Brent 43 cents higher at US$47.77. Petronas Dagangan rose eight sen to RMRM21.80, Petronas Chemicals six sen to RM6.10 and Petronas Gas two sen to RM21.88 but SK Petro shed six sen to RM1.85.
Consumer stocks were among the top losers, with BAT falling below the key RM60 level. It lost ground for the second day this week and was down 86 sen to RM59.94. Nestle was also 86 sen lower at US$72.02.
Crude palm oil for third-month delivery rose RM43 to RM2,437 per tonne. PPB Group fell 24 sen to RM15.20 but Sime Darby added one sen to RM7.49, IOI Corp three sen to RM3.91 and KL Kepong six sen to RM21.36.
As for telcos, Axiata was down eight sen to RM5.71, TM shed one sen to RM6.69, Maxis added two sen to Rm6.49 and DiGi seven sen to RM5.55.
Among the key regional markets,
Japan’s Nikkei 225 fell 4.05% to 16,930.84;
Hong Kong’s Hang Seng Index fell 2.97% to 20,556.60;
CSI 300 fell 1.97% to 3,178.85;
Shanghai’s Composite Index fell 2.02% to 3,038.14;
Shenzen Composite fell 1.51% to 1,711.72;
Hang Seng China Enterprise fell 2.96% to 9,230.50 while
Singapore’s Straits Times Index fell 0.28% to 2,784.06.
Spot gold fell US$5.10 to US$1,126.85.
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