Asian markets pause for a breather

The FBM KLCI dipped at mid-morning on Tuesday, July 5 as key regional markets mostly paused for a breather after five consecutive days of gains.

Expectations for a moderate slowdown in Asia that will bring inflation rates down has been attracting capital inflows and increasing bets on a second-half recovery in stocks, according to Reuters.

The FBM KLCI shed 1.19 points to 1,581.16 at 10.01am, weighed by losses at select blue chips.

Gainers edged losers by 172 to 162, while 225 counters traded unchanged. Volume was 113.96 million shares valued at RM249.64 million.

At the regional markets, Japan’s Nikkei 225 was down 0.15% to 9,949.88, Hong Kong’s Hang Seng Index shed 0.06% to 22,756.88, the Shanghai Composite Index fell 0.23% to 2,806.38, Singapore’s Straits Times Index lost 0.46% to 3,139.03 and Taiwan’s Taiex edged down 0.12% to 8,764.57.

Meanwhile, South Korea’s Kospi gained 0.22% to 2,150.09.


mong the decliners, PPB lost 24 sen to RM17.34, Lafarge Malayan Cement, MAHB and Public Bank fell 10 sen each to RM7.37, RM6.40 and RM13.24 respectively, Fima Coro and TSR Capital down nine sen each to RM6.05 and 98 sen, Hong Leong Bank down eight sen to RM13.40 and Ekovest five sen to RM2.90.

Key West was the most actively traded counter with 6.08 million shares done. The stock added one sen to 15 sen.

Other actives included Maybank, XDL, Ramunia, United U-Li Corp, Genting Malaysia, Lion Corp and TMS.

Asia File was the top gainer and added 25 sen to RM4.25; Dutch Lady was up 20 sen to RM18.88, Vitrox, Shell and DiGi 14 sen each to RM2.22, RM10.50 and RM29.64 respectively, Petronas Dagangan and Kian Joo 10 sen each to RM16.30 and RM2.22, C.I. Holdings and Eng Kah nine sen each to RM3.39 each respectively, while Press Metal gained eight sen to RM2.31. (The Edge Malaysia)