Published: Thursday September 20, 2012 MYT 1:12:00 PM
China slowdown hurts markets, KLCI down nearly 21 pts
By Joseph Chin
KUALA LUMPUR: Asian markets including the FBM KLCI fell on Thursday after manufacturing data from China showed the economy was slowing further in the third quarter.
At 12.30pm, the KLCI was down 20.56 points or 1.25% to 1,625.55. Turnover was 466.62 million shares valued at RM558.48mil. Declining stocks beat advancers nearly three to one, with 426 losers, 145 gainers and 284 counters unchanged.
Reuters reported Asian shares extended losses on Thursday after data indicated little respite for Chinese manufacturers. The losses among the key markets were between 0.47% and 1.38%.
The report said the HSBC flash PMI ticked up to 47.8 in September from a nine-month low in August of 47.6. Since the index remained below 50, it indicated the sector was still contracting. An output index hit its lowest level in 10 months.
Among the key regional markets, Japan's Nikkei 225 fell 1.38% to 9,104.48; Hong Kong's Hang Seng Index lost 0.49% to 20,739.47; Shanghai's Composite Index fell 1.10% to 2,045.12; Taiwan's Taiex lost 0.83% to 7,717.22; South Korea's Kospi fell 0.76% to 1,992.58 and Singapore's Straits Times Index gave up 0.47% to 3,061.06.
US light crude oil fell 85 cents to US$91.13 and Brent 19 cents lower at US$108 while spot gold lost US$4.40 to US$1,765.90.
The ringgit was quoted at 3.0654 to the US dollar.
Exports of Malaysian palm oil products for Sept. 1-20 rose 14.6 percent to 928,110 tonnes from 809,814 tonnes shipped during Aug 1-20, Reuters quoted cargo surveyor Intertek Testing Services saying on Thursday.
Tasek was the top loser, down 26 sen to RM10.32, Dutch Lady lost 22 sen to RM42 and LPI 14 sen lower at RM13.54. Among the small cap stocks, Ajinomoto lost 17 sen to RM4.12 and Naka 16 cen to 68.5 sen.
Nestle was the top gainer, up 20 sen to RM62.20 while MMHE added five sen to RM4.83.