FBM KLCI slips 0.31% lower; Asian markets at 11 months high

MALAYSIAN shares closed down 0.31 per cent today due to profit-taking in index linked stocks, dealers said.The Kuala Lumpur Composite Index lost 3.59 points at 1,171.31. Gainers outpaced losers 319 to 310. The Finance Index went down 4.53 points to 9,550.70, while the Plantation Index rose 1.74 points to 5,611.34 and the Industrial Index increased 10.14 points to 2,586.12.The FBM Emas Index slipped 2.01 points to 7,917.78, and the FBM Top 100 eased 7.59 points to 7,698.46.

Asian markets climbed to an 11-month high to end Monday’s trading higher boosted by better earnings and economic data in the region.

Asian stocks rose for a third day after Mitsubishi UFJ Financial Group Inc returned to profit, manufacturing in China and India expanded and Goldman Sachs Group Inc lifted its rating for South Korean equities.

Singapore’s Straits Times Index was 0.84% higher to 2,681.64 while Seoul’s Kospi Index added 0.49% to 1,564.98.

Tokyo’s Nikkei 225 was marginally lower at 10.352.47 and Hong Kong’s Hang Seng Index jumped 1.14% to 20,807.26.

Shanghai’s A share index advanced 1.5% to 3,462.59 after reports by the Federation of Logistics & Purchasing and CLSA Asia Pacific Markets showed manufacturing continued to expand last month.

The FBM ACE Index which was introduced for the first time today, rose 8.25 points to 4,266.96.The formation of the index was due to the transformation of the MESDAQ Market into an alternative market for emerging companies of all sizes and sectors.The market is now called the ACE Market.

In addition, the main and second boards were also merged today into a single unified board for established companies, now known as the Main Market. Total turnover decreased to 795.195 million shares worth RM1.224 billion from 1.257 billion shares worth RM1.947 billion Friday.

Top bank Maybank added 2.8 per cent to end at RM6.68 and property company IJM Land gained 8.1 per cent to RM1.73.Banking group Bumiputra-Commerce lost 1.3 per cent to RM10.66 while gaming firm Genting lost 3.1 per cent to RM6.30. -