Published: Thursday September 20, 2012 MYT 6:04:00 PM
Updated: Thursday September 20, 2012 MYT 6:06:40 PM
European, Asian markets slide, KLCI ends 20pts down
By Joseph Chin
KUALA LUMPUR: Key European and regional markets fell on Thursday, with China stocks the worst hit on worries about a weakening outlook for the global economy.
At the close, the KLCI was down 20.52 points or 1.25% to 1,625.59. Turnover was 899.29 million shares valued at RM1.46bil. Declining stocks beat advancers nearly three to one, with 551 losers, 184 gainers and 312 counters unchanged.
The slide in the Asian markets were triggered after Japan's exports fell for a third month and on signs China's manufacturing may contract for an 11th month, according to Bloomberg.
The news report said preliminary data showed China's manufacturing may contract for an 11th month in September. The reading was 47.8 for a purchasing managers' index released by HSBC Holdings Plc and Markit Economics. A number below 50 signals a contraction.
Among the key regional markets, Japan's Nikkei 225 fell 1.57% to 9,086.98; Hong Kong's Hang Seng Index lost 1.2% to 20,590.92; Shanghai's Composite Index tumbled 2.08% to 2,024.84; Taiwan's Taiex shed 0.7% to 7,727.55; South Korea's Kospi gave up 0.87% to 1,990.33 and Singapore's Straits Times Index eased 0.42% to 3,062.61.
US light crude oil fell 79 cents ti US$91.19 and Brent 90 cents lower at US$107.29 while spot gold slid US$10.05 to US$1,760.25.
The ringgit was trading at 3.0695 to the US dollar.
Crude palm oil for third-month futures fell RM31 to RM2,828, again the lowest since mid-October last year.
Exports of Malaysian palm oil products for Sept. 1-20 rose 12.8 percent to 900,450 tonnes compared with 798,431 tonnes shipped during Aug 1-20, cargo surveyor Societe Generale de Surveillance said on Thursday.
Kotra, which surged to an all time high of 98 sen on Wednesday, fell 28 sen to 70 sen. Aeon Credit gave up 22 sen to RM10.36 and F&N 18 sen to RM18.98.
RHB Capital rose 10 sen to RM7.20, making it the top gainer of the KLCI component stocks. Bintulu-CA call warrants were the top gainers, up 28 sen to 33 sen while Delloyd added eight sen to RM3.48 and MMHE six sen to RM4.84.