Published: Monday November 2, 2009 MYT 1:42:00 PM
Updated: Monday November 2, 2009 MYT 2:02:48 PM

Asian markets in the red

By Fintan Ng

KUALA LUMPUR: Asian markets continued to bleed red ink and were mostly in negative territory at midday Monday following a dismal start to the trading week when markets largely opened down after Wall Street’s tumble last Friday on a decline in US consumer confidence.

The FBM KLCI was down 0.43% to 1,237.94 at the lunch break while Singapore’s Straits Times Index was a third of a percent lower at 2,642.71.

Tokyo’s Nikkei 225 shed 2.38% to 9,796.11 despite a second consecutive month fall in the monthly unemployment rate in September and Hong Kong’s Hang Seng Index fell 1.72% to 21,378.17.

Shanghai’s A share index was up a half percent to 3,010.55, the Taipei Index dropped two-thirds of a percent to 7,290.43 and Seoul’s Kospi Index lost 1.32% to 1,559.87.

At Bursa Malaysia, 114 counters were up, 424 were down while 184 others were traded unchanged. There were 377.56 million shares done at RM454.36 million.

Lityan as the top gainer after emerging from PN17 status last Friday as a listed subsidiary of Lembaga Tabung Haji. The counter climbed 52 sen to RM2.26.

Among bank stocks, RHB Capital fell 13 sen to RM5.26, Hong Leong Financial rose 16 sen to RM6.36, CIMB lost 12 sen to RM12.36 and Aeon Credit dropped 17 sen to RM3.85.

Time gained 5 sen to 44.5 sen while Time Dotcom added 1.5 sen to 42.5 sen and Green Packet warrants was 4 sen higher at 73 sen.

KFC lost 10 sen to RM7.80, Guinness Anchor fell 12 sen to RM6.88 and Nestle dropped 18 sen to RM33.

PPB rose 18 sen to RM15.32 and Measat was 12 sen higher at RM1.78.

Nymex crude oil in electronic trade gained 61 cents to US$77.61 per barrel.

Crude palm oil for January delivery was down RM33 to RM2,175 per tonne.

The ringgit was quoted at 3.427 to the US dollar.

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