Published: Tuesday September 18, 2012 MYT 11:03:00 AM
Updated: Tuesday September 18, 2012 MYT 11:04:03 AM
KLCI crosses crucial 1,650, temporarily
KUALA LUMPUR: The market started on a strong note on Tuesday after the extended weekend with the FBM KLCI crossing the crucial 1,650 level temporarily.
At 10.45am, the KLCI was up 6.69 points to 1,649.64. Turnover was 268.35 million shares valued at RM504.10mil. There were 273 gainers, 197 losers and 227 counters unchanged.
Bloomberg reported emerging-market currencies weakened and copper fell for a second day as tensions between China and Japan escalated, New York manufacturing slumped and Spain debated whether to seek a bailout. Asian bond risk rose.
China and Japan's worst diplomatic crisis since 2005 is putting at risk a trade relationship that's tripled in the past decade to more than US$340bil. A Federal Reserve report showed manufacturing in the New York region contracted at the fastest pace since 2009. European Central Bank Governing Council member Luc Coene said rising bond yields may force Spain into asking for aid, said Bloomberg.
BAT was the top loser, down 48 sen to RM62.90 and PetDag 40 sen lower at RM22.38 while F&N lost 32 sen to RM19.18 and KLK 26 sen lower at RM22.10, AirAsia lost nine sen to RM3.01.