KUALA LUMPUR: Most key Asian markets were in the red early Thursday as investor sentiment was impacted by the overnight fall on Wall Street, tumble in crude oil prices and the slowing China economy, while at Bursa Malaysia, plantation-property heavyweight Sime Darby led the FBM KLCI lower.
At 9.30am, the KLCI was down 1.29 points or 0.08% to 1,666.68. Turnover was 305.81 million shares valued at RM173.08mil. The broader market was mixed with 204 gainers, 226 losers and 243 counters unchanged.
Asian stocks touched a three-month low early on Thursday as worries about the Chinese economy, reflected recently in a sharply lower yuan, kept investors nervous, Reuters reported.
The People's Bank of China set its official midpoint rate at 6.5646 per dollar prior to the market open on Thursday, its weakest level since March 2011, the wire report added.
Meanwhile, the ringgit weakened against the US dollar early Thursday, slipping to 4.4170 or 0.55% from 4.3925.
Hong Leong Bank led the FBM KLCI stocks lower, down 12 sen to RM13 but with 4,100 shares done. HLFG lost 10 sen to RM13.90 and HL Industries was down 11 sen to RM5.84 with 100 shares traded.
IJM Plantation fell 18 sen to RM3.48 with 100 shares done, IOI Corp eight sen lower at RM4.42 and Sime Darby was down seven sen to RM7.50.
Ajinomoto, which had a strong run-up late last year fell the most, down 20 sen to RM8.55. BAT however, gained 44 sen to RM54.50.
Fiamma’s corporate exercise including a one-into-two share split saw it surging 31 sen to RM2.05 with 1.05 million shares done.
Crane manufacturer Favelle Favco rose nine sen to RM3.09, extending its previous day’s gains.
Poultry-based Huat Lai and Lay Hong also climbed. Huat Lai added 14 sen to RM4.74 with 100 shares done but Lay Hong saw more active trade, adding eight se to RM6.50 with 8,000 shares traded.
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