NST Online Business Times : latest
NST Online Business Times : latest |
| Posted: 21 Aug 2013 06:57 PM PDT Share prices on Bursa Malaysia opened bearish in early trading today, led by losses in index-linked counters. At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 19.9 points lower at 1,724.95, after opening 17.51 points easier at 1,743.49. Maybank shed 19 sen to RM9.81 while IOI Corp eased 12 sen to RM5.18. Both counters contributed 4.376 points to the index. HwangDBS Vickers Research said the bears may return to the local bourse today with the benchmark FBM KLCI pulling back deeper towards the key support line of 1,720 ahead.
This came after minutes of the last US Federal Open Market Committee meeting revealed that the policymakers were supportive of a move to reduce monetary stimulus if the US economy improved. Back home, Bank Negara Malaysia revised downward the country's GDP's growth for this year to 4.5-five per cent from five-six per cent previously forecast. "In terms of corporate actions, listed companies that reported below par quarterly financial results last evening included AirAsia and Boustead Holdings," said HwangDBS in a note today. Weaker sentiment spilled over other Asian market as well. Across Asia, Japan's Nikkei 225 was 1.10 per cent lower at 13,276.04, Hong Kong's Hang Seng Index shed 0.69 per cent to 21,817.73 and Singapore's Straits Times Index fell 1.20 per cent to 3,071.66. On Bursa Malaysia, the Plantation Index slipped 76.14 points to 8,108.77, the Finance Index erased 201.43 points to 16,250.93 but the Industrial Index was up 3.55 points at 2,944.83. The FBM Emas Index trimmed 129.17 points to 12,028.63, the FBM100 Index fell 125.55 points to 11,763.89 and the FBM 70 Index gave up 105.05 points to 13,797.14. Market breadth was negative with losers outstripping gainers 347 to 21, while 117 counters were unchanged, 1,100 untraded and 18 others were suspended. Turnover stood at 131.095 million shares worth RM133.734 million. Among actives, The Media Shoppe and INS Bioscience were flat at nine sen and five sen, respectively. MAS and Sona Petroleum shed one sen each to 33.5 sen and 42.5 sen, respectively, while Flonic Hi-Tec was 1.5 sen lower at 16.5 sen. Heavyweights, Axiata was flat at RM6.65, YTL Corp shed one sen to
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| Ringgit opens lower against US dollar Posted: 21 Aug 2013 07:00 PM PDT The ringgit opened lower against the US dollar on weaker demand for the local note, amid improving external environment, a dealer said. The ringgit fell against the US dollar to 3.3150/3180 from 3.2930/2960 on Wednesday. The dealer said investors' appetite shifted towards the greenback
"Federal officials were comfortable with Chairman Ben Bernanke's plan to start reducing bond buying later this year if the economy improves," he added. Meanwhile, Bank Negara Malaysia Governor Zeti Akhtar Aziz said Malaysia was expected to maintain a current account surplus this year, and could cope with the current "highly destabilising" capital flows. "This is not a new phenomenon. We coped with it before," she said, adding that the economy was expected to remain supported by strong domestic growth. Sales of Malaysian bonds by foreigners, who held almost half of the country's government debt, could be absorbed by Malaysian institutions including the insurance industry, she said. The ringgit depreciated against the Singapore dollar to 2.5828/5857 from 2.5745/5776 yesterday and was sharply lower against the yen at 3.3861/3899 from 3.3771/3819 on Wednesday. The currency weakened against the British pound to 5.1777/1834 from 5.1601/1658 on Wednesday and fell against the euro to 4.4215/4265 from 4.4083/4133 yesterday.-- Bernama |
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