Tuesday August 20, 2013
KUALA LUMPUR: Fund selling of key bank stocks including Maybank and CIMB weighed on the market sentiment on Tuesday, pushing the 30-stock FBM KLCI down nearly 15 points.
At 10.51am, the KLCI was down 14.76 points to 1,763.60. Turnover was 983.32 million shares valued at RM804.39mil. Losers thrashed gainers 614 to 71 while 219 counters were unchanged.
At Bursa Malaysia, Maybank fell 34 sen to RM10.10 with 15.45 million shares done, HL Bank lost 28 sen to RM13.90 and CIMB 21 sen lower at RM7.69.
Bloomberg reported Asian stocks fell for a fourth day, with the regional benchmark equities gauge trading near a two- week low, as metals prices declined for the first time in five days and profit at QBE Insurance Group Ltd slumped.
The wire report said speculation that the Federal Reserve will curb bond buying spurred investors to sell risk assets across Asia and emerging markets. The Federal Open Market Committee's July meeting minutes are scheduled to be released on Wednesday.
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