KUALA LUMPUR (July 26): The FBM KLCI fell sharply to below the 1,630-point level on Thursday, dragged by losses at key blue chips including Genting-related stocks, Sime Darby and UMW.
The FBM KLCI fell 11.18 points to close at 1,623.91. There were 448 losers and 274 gainers, while 369 counters traded unchanged. Volume was 1.15 billion shares valued at RM1.82 billion.
Meanwhile, Asian markets closed mixed. Japan's Nikkei 225 rose 0.92% to 8,443.10; South Korea's Kospi added 0.74% to 1,782.47; Hong Kong's Hang Seng Index up 0.08% to 18,892.79; and Singapore’s Straits Times Index gained 0.46% to 3,004.57. Elsewhere, the Shanghai Composite Index fell 0.47% to 2,126.00; and Taiwan's Taiex shed 0.12% to 6,970.69.
European shares and the euro edged lower on Thursday, as weak corporate earnings reports highlighted the growing impact of the debt crisis in Europe, but moves were limited on talk that central banks could be prompted into action, according to Reuters. Both the US Federal Reserve and the European Central Bank hold policy meetings next week, heightening speculation over what policies they could use to deal with a slowing world economy and the growing problems of Greece, Spain and Italy, it said.
On Bursa Malaysia, BAT was the top loser, falling RM1.64 to RM59.36. KLK was down 66 sen to RM23.50; United Plantations dropped 50 sen to RM25; UMW shrunk 31 sen to RM9.51; Nestlé deducted 26 sen to RM59.72; Genting Plantations decreased 20 sen to RM9.30; Genting and KPJ retreated 16 sen each to RM9.11 and RM5.79 respectively; Sime Darby lost 15 sen to RM9.80; and Milux depreciated 14 sen to RM1.08.
IHH Healthcare was the most-actively traded counter, with 64.1 million shares done. The stock rose six sen to RM3.15. Other actives included Metronic, Ariantec, MK Land, Ingenuity Solutions and Luster. Gainers included SAM Engineering, F&N, UOA Development, Tasek, Tahps, Aeon, Oldtown, Litrak, CMSB and UMS.