Asian markets slide midday, KLCI down 12.98 points

  • Business
  • Monday, 18 Apr 2016

The open interest on crude palm oil options has climbed to more than 6,000 contracts earlier this year from negligible levels in 2015,

KUALA LUMPUR: Bursa Malaysia ended the morning session on Monday in a negative territory at mid-day in line with the slip at most regional markets.

The FBM-KLCI was down 12.98 points to 1715.01 weighted down by selected heavyweight stocks. There were 195 gainers, 453 losers and 317 counters traded unchanged on the Bursa Malaysia. Turnover was at 964.546 million shares valued at RM566.36mil.

BIMB Securities expects the local market to remain sideway today following to flatish results in the US and Europe with immediate resistance at 1,730/40.

JF Apex said following the flat performance in the US and Europe, the FBM KLCI was expected to extent its sideways trend, inclining to drift downward.

“Overall, Asian markets could trend lower today with top oil producers failed to reach an agreement in Doha summit,” it added.

Leading the top gainers, Ajinomoto (Malaysia) Bhd  rose 22 sen to RM9, MSM Malaysia Holdings Bhd increased 13 sen to RM4.85, Hong Leong Industries Bhd accumulated 10 sen to RM6.80 and Kian Joo added 10 sen to RM3.24.

Of top losers, British American Tobacco (M) reduced 54 sen to RM55, Hong Leong Financial Group Bhd fell 30 sen to RM15.50, KLCC  Property & REITS decreased 22 sen to RM7.18 while Malaysia Airports lost 17 sen to RM6.51.

Spot gold was up US$1.27 to US$1,235.26 per ounce.

The ringgit was quoted at 3.937 against the greenback while West Texas Intermediate oil has fallen to US$38.55 while Brent crude have tumbled to US$41.40 per barrel.

Among the key regional markets,

Japan’s Nikkei 225 fell 2.85% to 16,367.82;

Hong Kong’s Hang Seng Index is down 1.3% to 21,040.07;

CSI 300 fell 1.09% to 3,234.86;

Taiwan’s Taiex fell 0.43% to 8,662.86;

South Korea’s Kospi eased 0.38% to 2,007.11 and

Singapore’s Straits Times Index declined 0.66% to 2,904.61.
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