Weak start for regional markets

Written by Joseph Chin
Monday, 28 September 2009 10:24

KUALA LUMPUR: Regional markets kicked off the new week on Monday, Sept 28 on a weak note following the losses on Wall Street last week while at Bursa, banks and PLANTATION []s were among the biggest losers.

At 10am, the FBM KLCI fell 6.13 points to 1,211.26, the most in recent weeks. Turnover was 96.13 million shares valued at RM81 million.
Light crude oil fell 29 cents to US$65.73, the lowest since late July.

Key Asian markets fell, with Hong Kong's Hang Seng Index opening down 1.1% to 20,792.35; Japan's Nikkei 225 fell 2.36% to 10,023.99 and Singapore's Straits Times Index slipped 0.89% to 2,639.13 but Shanghai's Composite Index bucked the trend, rising 0.18% to 2,843.97.

PPB, which derives most of its earnings from plantations, fell 10 sen to RM15.92 and Kuala Lumpur Kepong shed eight sen to RM13.90. Bank stocks which fell were CIMB, down eight sen to RM11.08, RHB Cap seven sen to RM5.18 and Public Bank six sen to RM10.20.

KYM was the top loser, sliding 15.5 sen to 55 sen with 2,000 shares done.

Jadi Imaging was the most active, with 5.7 million units transacted, rising one sen to 21.5 sen.

AZRB rose nine sen to 98.5 sen after The Edge FinancialDaily reported it was close to securing a RM50-million contract for the initial works of the Hulu Terengganu hydroelectric project.

Nestle rose the most, adding 34 sen to RM35.50 but in razor-thin trade of 200 shares while KFCH added 12 sen to RM7.40 and Tanjong gained 10 sen to RM15.08.