Business

Published: Thursday June 21, 2012 MYT 6:39:00 PM

KLCI halts four-day rally, DiGi, Axiata weigh

By Joseph Chin


KUALA LUMPUR: Most key regional markets closed lower on Thursday on concerns about the weakening euro zone private sector and slower growth in China.

At Bursa Malaysia, the FBM KLCI snapped its four-day rally, slipping 2.96 points to 1,601.43, weighed down by losses in DiGi and Axiata.

Turnover was 1.57 billion shares valued at RM1.57bil. There were 354 gainers, 424 losers and 316 stocks unchanged.

However, the undertone of the market was still firm despite the mild pullback as funds decided to take profit after four days of gains.

Among the key regional markets, Hong Kong's Hang Seng Index fell 1.3% to 19,265.07, Shanghai's Composite Index lost 1.4% to 2,260.88; South Korea's Kospi 0.79% to 1,889.15;Taiwan's Taiex 0.76% to 7,279.05 and Singapore's Straits Times Index 0.89% lower at 2,830.15.

However, Japan's Nikkei 225 bucked the trend to close 0.82% higher at 8,824.07.

Reuters reported the downturn in the euro zone's private sector is becoming entrenched and Chinese factories are finding the going increasingly tough, business surveys showed on Thursday, painting a darker outlook for the world economy.

June was the fifth consecutive month that activity across the euro zone has declined, dragging down heavyweights Germany and France and putting pressure on the European Central Bank to take further action to support the economy.

US light crude oil fell 83 cents to US$80.62 and Brent 98 cents lower at US$91.71. Spot gold fell US$6.65 to US$1,600.82. The ringgit was weaker against the US dollar at 3.1780. Crude palm oil futures for third month delivery fell RM35 to RM3,006.

At Bursa Malaysia, DiGi fell five sen to RM4.18 while Axiata and YTL gave up four sen each to RM5.42 and RM2.08, dragging the KLCI down 2.4 points.

Among the banks, Public Bank lost six sen to RM13.78 and RHB Cap seven sen to RM7.30. AirAsia fell three sen to RM3.60, Genting Malaysia shed five sen to RM3.60 and Genting two sen to RM9.68.

Pharmaniaga was the top loser, down 73 sen to RM8.77 after surging for the past four days since last Friday when it resumed trading. Jaya Tiasa lost 29 sen to RM8.86 on weaker earnings.

Luster was the most active, up 5.5 sen to 14 sen with 322.98 million shares done while its warrants jumped 4.5 sen to 10.5 sen.

Dutch Lady was the top gainer, up 68 sen to RM36.48, F&N 14 sen to RM18.80 and Carlsberg 12 sen to RM12.04.

MISC advanced 23 sen to RM4.11 with 11.16 million shares done after the company projected better quarter ahead.

  • E-mail this story
  • Print this story
  • Bookmark and Share