FBMKLCI 1486.50 -10.49
KLCI dn 2.39%, gold new high
KUALA LUMPUR: The FBM KLCI pared down some of its losses at the mid-day break on Tuesday, Aug 9 after having dropped more than 68 points in early trade in a knee-jerk reaction to the overnight at tumble at Wall Street.
The'' KLCI was down 2.39% or 35.78 points to 1,461.21 at 12.30pm, as all 30 stocks on the index fell. ''It had earlier fallen to its intra-morning low of 1,423.47. Market breadth was weak with 905 losers and 52 gainers, while 103 counters traded unchanged. Volume was 940.72 million shares valued at RM1.77 billion.
Regional markets were deep in red as China inflation data offered little respite to already hammered markets and gold soared to a new record.
China's annual inflation quickened to a higher-than-expected 6.5% in July, while gold jumped US$50.80 an ounce to US$1,770.32.
The ringgit weakened 0.58% to 3.0365 versus the US dollar; crude palm oil futures for the third month delivery fell RM54 per tonne to RM2,926 and crude oil fell US$3.37 per barrel.
At the regional markets, South Korea's Kospi slumped 6.98% to 1,738.98, Hong Kong's Hang Seng Index lost 6.01% to 19,258.51, Japan's Nikkei 225 fell 3.10% to 8,815.67, the Shanghai Composite Index down 1.10% to 2,498.94 and Taiwan's Taiex shed 0.63% to 7,505.38.
The Singapore stock exchange was closed to observe the republic's National Day holiday.
Among the major decliners, BAT fell RM1.86 to RM42.74, Panasonic 90 sen to RM22.80, F&N 72 sen to RM18.08, PPB 58 sen to RM16.42, Nestle 54 sen to RM47.06, Petronas Gas 52 sen to RM12.38, Batu Kawan, KLK and HLFG 50 sen each to RM15.10, RM20.772, RM11.80, GAB 46 sen to RM10.06 and CIMB 30 sen to RM8.
Axiata was the most actively traded counter with 23.51 million shares done. The stock fell seven sen to RM4.92.
Other actives included Karambunai, SAAG, UEM Land, E&O, CIMB, Petronas Chemicals, Dialog and Bumi Armada.
Gainers included Kwantas, Takaso, Toyo Ink, Muhibbah and Catcha Media.