FBM-KLCI dips, but less severely compared with the region

KUALA LUMPUR: At market close, the FBM-KLCI's dip was relatively tamer compared with regional bourses, and dealers say a buying opportunity may emerge in the coming days. This comes as world equities took a beating from fears of a US recession and the ongoing eurozone debt crises.

The FBM-KLCI lost 22.46 points to 1,524.43, with turnover at 1.78 billion shares valued at RM3.67bil. There were 60 gainers, 934 losers and 152 counters traded unchanged.

On the regional front, Japan's Nikkei 225 Index lost 359.30 points to 9,299.88, Hong Kong's Hang Seng Index 938.60 points to 20,946.14, Shanghai's Composite Index 57.62 points to 2,626.42, Seoul's Kospi Index 74.72 points to 1,943.75, and Singapore's Straits Times Index 112.23 points to 2,994.78.

Top gainers on the FBM-KLCI were Tasek Corporation which rose 20 sen to RM8.50, Catcha Media which rose 14 sen to 90 sen, and Hang Seng Index which rose 12 sen to 55 sen.

Top losers were United Plantations which shed 98 sen to RM19.62, British American Tobacco which shed 86 sen to RM45.42, and Nestle which lost 64 sen to RM47.12.

Nymex crude oil was higher at US$86.33 per barrel as at 5.44pm. Spot gold bucked the equity downward trend and rose to US$1,664.53 per ounce, while the ringgit was quoted at 3.012 to the US dollar.