NST Online Business Times : latest
NST Online Business Times : latest |
| Ringgit rebounds in early trade Posted: 24 Jun 2013 06:55 PM PDT The ringgit rebounded against the US dollar, in early trade today, on fresh buying interest, dealers said. At 9.10am, the currency was quoted 3.2055/2085 against 3.2180/2210 yesterday. A dealer said the greenback had retreated from a near three-week peak on renewed concerns after Federal Reserve officials released a comment saying the Fed's exit strategy was still way out in the future. The local currency was lower against the Singapore dollar at 2.5149/5188 from 2.5141/5168 on Monday but strengthened against the yen to 3.2704/2748 from 3.2797/2844 previously.
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| Posted: 24 Jun 2013 06:53 PM PDT Bursa Malaysia opened lower this morning as investors took cue from the overnight losses on Wall Street amid weak global
At 9.03am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 13.03 points lower at 1,725.16 after opening 10.46 points easier at 1,727.73. The composite index was dragged down by losses mostly seen in finance counters and key heavyweights like Maybank, CIMB, Petronas Chemicals and UMW. HwangDBS Vickers Research said the selling momentum was set to continue today. "Key US equity bellwethers slid between 0.9 per cent and 1.2 per cent at the closing bell on persistent concerns over premature quantitative easing withdrawal by the Federal Reserve and weakening economic fundamentals in China. "The bearish external backdrop will likely pile additional selling pressure on Malaysian equities ahead," it said in a note. The benchmark FBM KLCI, after slipping below the 1,750 points level, remains vulnerable to further downside risk, possibly pulling back deeper towards the major support line of 1,720 points, the research firm added. On the scoreboard, the Finance Index erased 131.93 points to 16,372.99, the Industrial Index decreased 19.62 points to 2,894.76 and the Plantation Index trimmed 4.7 points to 8,155.69. The FBM Emas Index fell 90.81 points to 11,941.43, the FBMT100 Index lost 91.49 points to 11,724.16, the FBM Mid 70 Index trimmed 118.05 points to 13,580.85 and the FBM Ace Index erased 5.09 points to 4,644.35. Market breadth was negative as losers thumped gainers 156 to 48, with 90 counters unchanged, 1,298 untraded and 22 others were suspended. Volume amounted at 40.792 million shares worth RM55.387 million. Among actives, Flonic Hi-Tech inched up half-a-sen to 8.5 sen, Cybertowers added one sen to 18 sen and TDM gained three sen to 78.5 sen. As for heavyweights, Maybank lost 12 sen to RM10.02, CIMB erased eight sen to RM8.05, both Sime Darby and Petronas Chemicals were seven sen lower at RM9.33 and RM6.51, respectively, while Axiata Group slipped three sen to RM6.57.-- Bernama |
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