Market Update
Asian markets fell as commodity producers dropped after commodity prices declined and amid concern
China’s tight monetary policies will limit growth. China’s purchasing managers’ index rose to 51 in
February from 50.5 the previous month, said China’s statistics bureau and logistics federation. Nikkei
shares average gained, boosted by an unexpected jump in 4Q capital expenditure by Japanese
companies, while the softening yen and the European Central Bank’s liquidity move underpinned
sentiment.
Australian shares are lower this afternoon as falls in metal prices on material stocks and US Federal
Reserve chairman Ben Bernanke’s address to Congress dampens sentiment.
FBMKLCI up 4.73pts to 1574.38 at midday, lifted up by heavyweight Sime Darby despite cautious start
following losses from MAS and Proton. Gainers trailed losers, 269 to 411, while 315 counters traded unchanged. There are 853.2m shares changed hands valued at RM924.8m.
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