Asian markets in the red

Written by Joseph Chin
Friday, 02 October 2009 10:27

KUALA LUMPUR: All key Asian markets were in the red on Friday, Oct 2 amid the gloomy outlook for global equities after US stocks fell.

At 10am, the FBM KLCI fell 3.53 points to 1,204.82, nearing its critical 1,200 support level. Turnover was 138.82 million shares valued at RM122.88 million.

Singapore's Straits Times Index fell 1.87% to 2,607.64, Japan's Nikkei skidded 2.46% to 9,733.42, Taiwan's Taiex Index was down 0.87% at 7,479.71 and South Korea's Kospi 1.7% lower at 1,644.63. Hong Kong and China markets are closed.

KLCCP fell 17 sen to RM3.13 and Bursa nine sen to RM8.08. Jetson's securities fell after the takeover failed, which saw Jetson-LA losing 19 sen to RM1.39, Jetson nine sen to RM1.73 and Jetson-WA 3.5 sen to 87.5 sen.

HaiO gave up 17 sen to RM6.17 but with 45,500 shares done as its recent run-up, which pushed the share price to historic highs, stalled.

Amid the bearish sentiment, IJM Corporation's rights entitlements - involving new warrants at an issue
price of 25 each attracted interests when they commenced trading until next Thursday.

IJM-WR jumped 39.5 sen to 64.5 sen with 3.15 millon units done while IJM shares added seven sen to RM4.57.

HwangDBS Vickers Research said at the prevailing mother share price of RM4.50 and given an exercise price of RM4 for the warrants, the rights entitlement price could range between 25 sen and 93 sen.

Green Packet-WA jumped 22 sen to 22.5 sen with 19.8 million units done and making it the most active counter. Green Packet fell 1.5 sen to 69.5 sen.

SAAG fell 0.5 sen to 20.5 sen after Stafford Investments Ltd disposed of 66.649 million shares from Sept 8 to 23.

However, BDB added eight sen to RM1, Asas six sen to 65 sen while KPJ's proposed share split, bonus issue and warrants, saw the healthcare group adding six sen to RM4.20.