MARKET DEVELOPMENT
Plantations, SKPetro Among Top Losers at Noon (Update)
Plantations, SKPetro Among Top Losers at Noon (Update)
04/11/2014 (The Star) - Profit taking on plantations and weakening crude oil prices weighed on the FBM KLCI at the midday break on Tuesday while the broader market showed signs of weakening.
At 12.30pm, the KLCI was down 7.32 points or 0.39% to 1,846.02. Turnover was 722.11 million shares valued at RM839.58mil. There were 262 gainers, 416 losers and 298 stocks unchanged.
Reuters reported Asian stocks dipped on Tuesday with latest signs of slower growth in China and the euro zone dampening the mood, although Japan bucked the trend and rose to new seven-year highs on follow-through momentum generated by the Bank of Japan's surprise stimulus move last week. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2%.
Crude palm oil for third-month delivery fell RM19 to RM2,317 at midday. KL Kepong fell 66 sen to RM22.24 and PPB Group 62 sen lower at RM15.24 while Genting Plantations lost 16 sen to RM10.54.
The weakening crude oil price weighed on oil and gas heavyweight SapuraKencana Petroleum, which fell 12 sen to RM3.27. Petronas Gas lost 10 sen to RM21.84.
US crude fell 48 cents to US$78.30 and Brent 55 cents lower at US$84.32.
Press Metal’s rally took a breather, with the warrants down 14 sen to RM4.39 and the shares 12 sen lower at RM6.58.
However, on a positive note, Hap Seng and its warrants rose 27 sen each to RM3.09 and RM4.75. Hap Seng-CJ call warrant added 12.5 sen to RM4.56.
Perak Corp recoup some of the recent losses to add 16 sen to RM3.28 in thin trade.
Tenaga Nasional rose 12 sen to a fresh high of RM13.62 after posting a strong set of results last week.
The ringgit weakened to 3.3260 against the US dollar from 3.3180.
Among the key regional markets,
Japan’s Nikkei 225 jumped 3.36% to 16,965.34;
Hong Kong’s Hang Seng Index rose 0.17% to 23,956.06
Shanghai’s Composite Index was flat at 2,430.02;
Taiwan’s Taiex fell 0.06% to 8,999.15;
South Korea’s Kospi fell 1.02% to 1,933.09;
Singapore’s Straits Times Index fell 0.23% to 3,283.11.
Spot gold rose 82 cents to US$1,166.45.
At 12.30pm, the KLCI was down 7.32 points or 0.39% to 1,846.02. Turnover was 722.11 million shares valued at RM839.58mil. There were 262 gainers, 416 losers and 298 stocks unchanged.
Reuters reported Asian stocks dipped on Tuesday with latest signs of slower growth in China and the euro zone dampening the mood, although Japan bucked the trend and rose to new seven-year highs on follow-through momentum generated by the Bank of Japan's surprise stimulus move last week. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2%.
Crude palm oil for third-month delivery fell RM19 to RM2,317 at midday. KL Kepong fell 66 sen to RM22.24 and PPB Group 62 sen lower at RM15.24 while Genting Plantations lost 16 sen to RM10.54.
The weakening crude oil price weighed on oil and gas heavyweight SapuraKencana Petroleum, which fell 12 sen to RM3.27. Petronas Gas lost 10 sen to RM21.84.
US crude fell 48 cents to US$78.30 and Brent 55 cents lower at US$84.32.
Press Metal’s rally took a breather, with the warrants down 14 sen to RM4.39 and the shares 12 sen lower at RM6.58.
However, on a positive note, Hap Seng and its warrants rose 27 sen each to RM3.09 and RM4.75. Hap Seng-CJ call warrant added 12.5 sen to RM4.56.
Perak Corp recoup some of the recent losses to add 16 sen to RM3.28 in thin trade.
Tenaga Nasional rose 12 sen to a fresh high of RM13.62 after posting a strong set of results last week.
The ringgit weakened to 3.3260 against the US dollar from 3.3180.
Among the key regional markets,
Japan’s Nikkei 225 jumped 3.36% to 16,965.34;
Hong Kong’s Hang Seng Index rose 0.17% to 23,956.06
Shanghai’s Composite Index was flat at 2,430.02;
Taiwan’s Taiex fell 0.06% to 8,999.15;
South Korea’s Kospi fell 1.02% to 1,933.09;
Singapore’s Straits Times Index fell 0.23% to 3,283.11.
Spot gold rose 82 cents to US$1,166.45.