from my mailbox
Malaysia’s Kuala Lumpur Composite Index fell 30.65, or 3.2 percent, to 938.24 at the 12:30 p.m. local time break, set for its lowest close since August 2006. The measure has fallen 7.7 percent this week, on course for its biggest weekly retreat since the five days ended March 14. October index futures tumbled 4.6 percent to 939.50.
Malayan Banking Bhd. lost 30 sen, or 5.1 percent, to 5.55 ringgit, set for its lowest close since November 2001. Bumiputra-Commerce Holdings Bhd. slid 30 sen, or 4 percent, to 7.30 ringgit. Alliance Financial Group Bhd. fell 21 sen, or 9.7 percent, to 1.96 ringgit, the worst performer on the benchmark Composite Index.
Lafarge Malayan Cement Bhd. Malaysia’s largest cement producer, tumbled 26 sen, or 7.8 percent, to 3.08 ringgit, the most since April 7, reflecting a regional sell-off in commodity-related shares. Lion Industries Corp. a steel producer, dropped 9 sen, or 8 percent, to 1.03 ringgit. It was the fourth-largest decliner on the benchmark Composite Index.
Oil and gas services providers:
SapuraCrest Petroleum Bhd. slid 9 sen, or 7.9 percent, to 1.00 ringgit, set for its lowest since April 2, 2007. KNM Group Bhd. lost 7
sen, or 6.4 percent, to 96 sen, the most active stock on the local stock exchange with 36.1 million shares traded. Crude oil dropped as much as 5.3 percent! in New York, its third day of declines.
IOI Corp. Malaysia’s second-largest palm oil producer, fell 30 sen, or 8 percent, to 3.46 ringgit, set for its lowest close since October 2006. Kuala Lumpur Kepong Bhd. lost 30 sen, or 3.6 percent, to 8.10 ringgit. Sime Darby Bhd. the biggest planter, slid 25
sen, or 3.7 percent, to 6.45 ringgit. Crude oil slid and UBS AG cut its 2008 palm oil price target by 4 percent and slashed its target for 2009-2012 by 18 percent to 23 percent. It lowered its share-price estimates on palm oil companies by as much as 53 percent.
Source : Bloomberg
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This entry was posted on October 12, 2008 at 12:38 am and is filed under work with tags bull, economy, gain, investments, loose, politics, profits, share price, unit trust. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.