KUALA LUMPUR: Asian markets fell in the morning session on Monday as investors worried about the US financial health, especially after Lehman Brothers filed for bankruptcy.
At Bursa Malaysia, declining stocks beat advancers nearly six to one as political concerns further weighed down sentiment.
At 12.30pm, the KLCI had fallen 15.86 points or 1.52% to 1,028.17. Turnover was 126.92mil shares valued at RM250.13mil. There were 66 gainers, 385 losers while 149 counters were unchanged.
Asian markets fell, with Taiwan’s Weighted Index down 250.12 points or 3.96% to 6,060.56, Singapore’s Straits Times Index 2.91% lower at 2,495.84 and Thailand’s SET 1.25% lower at 646.13.
Light crude oil fell US$2.12 to US$99.06 while crude palm oil (CPO) futures fell RM71 to RM2,309.
At Bursa Malaysia, selling on Tenaga continued after the government said last Thursday it had put off the power purchase agreement talks with independent power producers. Tenaga fell 40 sen to RM6.80.
Plantation-linked counters fell, with Kulim down 50 sen to RM5.40, KL Kepong 30 sen lower at RM10.10, Kim Loong-WA 29 sen to 71 sen while Chin Tek lost 20 sen to RM6.15 and Glenealy 18 sen to RM3.72. BLD Plantations declined 16 sen to RM3.72.
Heavyweight plantation stock IOI Corp lost 10 sen to RM4.28 and it was the most active with 6.99 million shares. Sime Darby eased 15 sen to RM5.95.
Perwaja continued its descent, down 11 sen to RM1.56 and Kinsteel 4.5 sen lower at 68 sen.
M3Nergy rose 19 sen to RM1.15 in active trade while MISC added 10 sen to RM8.40 and Sindora eight sen to RM2.04.
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