theSun | WEDNESDAY MAY 27 2009 15

1,051.63  1.51
T 9,310.81 T
36.19
business KLCI
STI 2,238.79 T
28.67
Nikkei
TSEC 6,683.11 T
51.35
Hang Seng 16,991.56 130.26
T KOSPI 1,372.04 T
28.86
SCI 2,588.57 T
21.44 S&P/ASX200 3,788.40 S
50.50

KL market summary

Asian shares hit by

MAY 26, 2009

INDICES CHANGE
FBMEMAS: 7,029.51 (- 13.13)
COMPOSITE: 1,051.63 (- 1.51)
INDUSTRIAL: 2,305.56 (- 2.04)

North Korea tension

CONSUMER PRODUCT: 309.65 (+ 0.65)
INDUSTRIAL PRODUCT: 81.27 (- 0.12)
CONSTRUCTION: 205.85 (+ 0.09)
TRADING SERVICES: 140.91 (- 0.29)
FINANCE: 8,195.34 (+ 23.61)
PROPERTIES: 702.66 (+ 0.99)
PLANTATIONS: 5,411.63 (- 63.77)
MINING: 310.05 (+ 16.22) HONGKONG: Asian shares fell yester- said Lee Kyoung-su, an analyst at Taurus
FBMSHA: 7,338.15 (- 31.23) day as a report of fresh missile tests by Investment & Securities. EXCHANGE RATE MAY 26, 2009
FBM2BRD: 4,582.14 (- 21.78) North Korea added to market tensions at “Market participants are more con-
TECHNOLOGY: 14.84 (+ 0.03) a time when investors are questioning if cerned with macroeconomic factors, Foreign currency Bank sell Bank buy Bank buy
TURNOVER VALUE they are too optimistic about the global such as a batch of data from the United TT/OD TT OD
economic outlook. States due out this week. More falls 1 US DOLLAR 3.5110 3.4560 3.4460
1.593bil RM1.516bil
Seoul shares fell more than 2% and are expected if the data proves to be
1 AUSTRALIAN DOLLAR 2.7760 2.6630 2.6470
Tokyo slipped a fifth of a percent after disappointing,” added the Seoul-based
North Korea was condemned for rais- analyst. 1 BRUNEI DOLLAR 2.4380 2.3850 2.3770
Shares close lower ing international tensions following a Consumer sentiment figures from 1 CANADIAN DOLLAR 3.1310 3.0630 3.0510
nuclear test on Monday. South Korea and manufacturing data 1 EURO 4.9350 4.8290 4.8090
SHARES prices on Bursa Malaysia closed lower A report that North Korea had fired from Singapore yesterday added to 1 NEW ZEALAND DOLLAR 2.2050 2.1140 2.0980
yesterday amid losses mainly in plantation more missiles yesterday came after both recent reports offering some signs that 1 PAPUA N GUINEA KINA 1.4340 1.1720 1.1560
counters and profit-taking on heavyweights Seoul and Tokyo markets had closed. the first quarter marked the trough of the
1 SINGAPORE DOLLAR 2.4375 2.3850 2.3770
after the recent sharp gain, dealers said. The dollar edged higher, but re- global downturn.
At close, the benchmark Kuala Lumpur mained near a five-month low hit last The question now is how soon, or 1 STERLING POUND 5.6050 5.4850 5.4650
Composite Index (KLCI) shed 1.51 points to week against a basket of currencies, as fast, a recovery will take shape. That is 1 SWISS FRANC 3.2520 3.1820 3.1670
1,051.63, after opening 0.47 of a point higher profit-taking hit higher-yielding curren- something that central bankers – with 100 ARAB EMIRATES DIRHAM 97.3300 92.3500 92.1500
at 1,053.61. cies that had benefited from hopes the Malaysia holding a policy meeting later 100 BANGLADESH TAKA 5.5200 5.2000 5.0000
“The decline in crude palm oil (CPO) prices worst of the global economic crisis was – are grappling with. 100 CHINESE RENMINBI N/A N/A N/A
somewhat took the steam out of the market now over. Among the global data that could
100 DANISH KRONE 68.2400 62.8900 62.6900
yesterday. It also affected the oil and gas sec- European shares were set to fall as help determine the course of markets
tor,” Jupiter Securities head of research, Pong well, while other assets seen as having a this week is US housing and consumer 100 HONGKONG DOLLAR 46.1000 43.7900 43.5900
Teng Siew said. higher risk, including oil, retreated. confidence. 100 INDIAN RUPEE 7.7200 7.1100 6.9100
There is also some risk aversion as the US Asia has grown accustomed to The MSCI index of Asian stocks 100 INDONESIAN RUPIAH 0.0357 0.0310 0.0260
dollar has come back stronger, which usually Pyongyang’s sabre-rattling so analysts outside Japan fell 0.5%. A rally that had 100 JAPANESE YEN 3.7100 3.6290 3.6190
puts pressure on commodity prices, he said. generally believe the market impact of taken the index up more than 50 % from 100 NEW TAIWAN DOLLAR N/A N/A N/A
The dollar appreciated against most major the missile tests will be short-lived. its yearly low in early March to its 2009
100 NORWEGIAN KRONE 57.3000 52.7900 52.5900
currencies in overseas markets. “There were But the tensions are occurring as high last week has stalled in the past
some profit taking as well in the market today,” optimism about the strength and speed several sessions. 100 PAKISTAN RUPEE 4.4800 4.2000 4.0000
said Pong. of a global economic recovery is being Crude retreated 70 cents to US$60.97 100 PHILIPPINE PESO 7.6200 7.1800 6.9800
The FBM30 Index slipped 24.07 points to replaced by some doubts. (RM213) a barrel ahead of OPEC’s meet- 100 QATAR RIYAL 98.0700 93.2900 93.0900
6,727.46, FBMMesdaq Index dropped 22.05 “As was the case with the nuclear ing tomorrow that is expected to result in 100 SAUDI RIYAL 95.2100 90.5600 90.3600
points to 4,045.25 and the FBM2BRD Index test yesterday, news of yet another North no changes to oil supply. 100 SOUTH AFRICAN RAND 43.8400 40.3900 40.1900
was 21.78 points lower at 4,582.14. Declin- Korean missile launch would have a A recent rally in oil prices was dented
100 SRI LANKA RUPEE 3.1600 2.9100 2.7100
ers outnumbered advancers by 409 to 268 relatively short-lived impact on markets. last week amid worries about attacks
counters, while 203 counters were unchanged, This will actually offer opportunities to by militants against the oil industry in 100 SWEDISH KRONA 48.7100 44.4000 44.2000
356 untraded and 35 suspended. – Bernama buyers to pick up stocks at lower prices,” Nigeria. – Reuters 100 THAI BAHT 10.9600 9.3100 8.9100
Sources: Malayan Banking Bhd/Bernama

billion dollars to domestic banks to proposals at the next Group of Eight “France will make proposals at “The seasonally adjusted estimate

briefs
Japan unveils new crisis
measure for small firms
TOKYO: Japan yesterday unveiled a
fresh crisis measure to provide dollar
loans to firms operating overseas to
help them cope with a global credit
crunch.
The Japan Bank for International
Cooperation said it would offer three
enable them to lend to small- and me-
dium-sized firms operating overseas,
particularly in Asia.
It is the latest in a series of measures
taken by Prime Minister Taro Aso’s
government to support companies
struggling to secure access to credit in
the wake of the financial crisis. – AFP
France to propose oil
price stability at G8
ABU DHABI: France will submit
summit to try to end oil price volatil-
ity, President Nicolas Sarkozy said
yesterday during a visit to the United
Arab Emirates.
“We have to work together to
fight oil price volatility. The volatil-
ity of oil prices is not in anyone’s
interests,” Sarkozy said in a speech
in Abu Dhabi.
“We all need more energy price
stability. I take responsibility in say-
ing high oil prices greatly destabilise
the global economy,” he said.
the G8,” Sarkozy said.
The G8 groups France with Britain,
Canada, Germany, Japan, Italy, Russia
and the United States. – AFP
South Africa’s economy
shrinks 6.4%
PRETORIA: South Africa’s economy, the
largest on the continent, slipped into
recession as official data showed that
gross domestic product contracted by
6.4% in the first quarter.
of real GDP at market prices for the
first quarter of 2009 decreased by an
annualised rate of 6.4% compared with
the fourth quarter of 2008,” Statistics
SA said.
The economy had contracted by
1.8% in the last quarter of 2008. The two
consecutive quarterly contractions put
South Africa in its first recession in 17
years.
The showing was far worse than
market expectations of a 3.9% drop,
according to local media. – AFP