MARKET DEVELOPMENT
Markets Under Pressure, CIMB, SKPetro Weigh
Markets Under Pressure, CIMB, SKPetro Weigh
03/10/2014 (The Star) - European and key Asian markets came under selling pressure on Thursday, sparked off by weakening global manufacturing data while at Bursa Malaysia, the attrition continued.
At 5pm, the KLCI was down 7.64 points or 0.41% to 1,837.68, weighed down by losses in CIMB, SapuraKencana Petroleum and BAT. Turnover was 1.47 billion shares valued at RM1.18bil. Decliners beat advancers 688 to 156.
The cautious sentiment on Bursa Malaysia reflected key Asian markets and European bourses. Foreign funds had also been reducing their stakes in Malaysian equities, which put added dampener on the stock market.
Reuters reported world stocks were knocked hard on Thursday after global manufacturing data and an Ebola health scare in the United States spooked markets, sending investors scurrying to the safety of US bonds, the yen and gold.
At Bursa Malaysia, BAT fell RM2.46 to RM68 and erased 1.36 points from the KLCI while Dutch Lady fell 34 sen to RM46.50.
CIMB was the main drag on the KLCI, wiping out 2.64 points from the KLCI when it fell 18 sen to RM6.99. HLFG lost 30 sen to RM17.50, AmBank shed one sen to RM6.82 but Public Bank rose four sen to RM18.82 and Maybank one sen to RM9.96.
Insurer Allianz lost 20 sen to RM11.80 and Allianz-PA was down 40 sen to RM11.70. However, Takaful added 30 sen to RM12.88.
Petronas Gas lost 24 sen to RM22.68 and erased 0.83 of a point. Heavyweight SapuraKencana lost 12 sen to RM4.01 and wiped out 1.26 points.
Crude palm oil for third-month delivery fell RM4 to RM2,154 per tonne. Among the plantation stocks, Sarawak Oil Palms lost 21 sen to RM5.73, FGV four sen to RM3.47.
KL Kepong bucked the trend to add 30 sen to RM21.44, Far East 25 sen to RM8.05 and United Plantations 20 sen to RM26.30 while IOI Corp gained two sen to RM4.80.
Power giant Tenaga Nasional rose four sen to RM12.36 and pushed the KLCI up 0.39 of a point.
The ringgit firmed up against the US dollar to 3.2490 from the previous close of 2.3738.
Among the key regional markets,
Japan’s Nikkei 225 fekk 2.61% to 15,661.99;
Taiwan’s Taiex fell 0.17% to 8,975.19;
South Korea’s Kospi fell 0.77% to 1,976.16 and
Singapore’s Straits Times Index fell 1.08% to 3,228.71.
US light crude oil fell US$1.07 to US$89.66 and Brent was down US$1.11 to US$93.05.
Spot gold rose US$1.64 to US$1,215.45.
At 5pm, the KLCI was down 7.64 points or 0.41% to 1,837.68, weighed down by losses in CIMB, SapuraKencana Petroleum and BAT. Turnover was 1.47 billion shares valued at RM1.18bil. Decliners beat advancers 688 to 156.
The cautious sentiment on Bursa Malaysia reflected key Asian markets and European bourses. Foreign funds had also been reducing their stakes in Malaysian equities, which put added dampener on the stock market.
Reuters reported world stocks were knocked hard on Thursday after global manufacturing data and an Ebola health scare in the United States spooked markets, sending investors scurrying to the safety of US bonds, the yen and gold.
At Bursa Malaysia, BAT fell RM2.46 to RM68 and erased 1.36 points from the KLCI while Dutch Lady fell 34 sen to RM46.50.
CIMB was the main drag on the KLCI, wiping out 2.64 points from the KLCI when it fell 18 sen to RM6.99. HLFG lost 30 sen to RM17.50, AmBank shed one sen to RM6.82 but Public Bank rose four sen to RM18.82 and Maybank one sen to RM9.96.
Insurer Allianz lost 20 sen to RM11.80 and Allianz-PA was down 40 sen to RM11.70. However, Takaful added 30 sen to RM12.88.
Petronas Gas lost 24 sen to RM22.68 and erased 0.83 of a point. Heavyweight SapuraKencana lost 12 sen to RM4.01 and wiped out 1.26 points.
Crude palm oil for third-month delivery fell RM4 to RM2,154 per tonne. Among the plantation stocks, Sarawak Oil Palms lost 21 sen to RM5.73, FGV four sen to RM3.47.
KL Kepong bucked the trend to add 30 sen to RM21.44, Far East 25 sen to RM8.05 and United Plantations 20 sen to RM26.30 while IOI Corp gained two sen to RM4.80.
Power giant Tenaga Nasional rose four sen to RM12.36 and pushed the KLCI up 0.39 of a point.
The ringgit firmed up against the US dollar to 3.2490 from the previous close of 2.3738.
Among the key regional markets,
Japan’s Nikkei 225 fekk 2.61% to 15,661.99;
Taiwan’s Taiex fell 0.17% to 8,975.19;
South Korea’s Kospi fell 0.77% to 1,976.16 and
Singapore’s Straits Times Index fell 1.08% to 3,228.71.
US light crude oil fell US$1.07 to US$89.66 and Brent was down US$1.11 to US$93.05.
Spot gold rose US$1.64 to US$1,215.45.