HK falls 4.1%, KLCI down 0.68%

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KUALA LUMPUR: Selling pressure accelerated towards the midday break on April 8, sending all key Asian markets down with Hong Kong falling the most but at Bursa, KL Kepong and Axiata help reduced the impact of the weaker sentiment. At 12.30pm, the KL Composite Index fell 6.23 points or 0.68% to 913.61. Turnover was 343.48 million shares valued at RM463.42 million. Declining counter beat advancers 314 to 83 while 146 stocks were flat. Hong Kong’s Hang Seng Index fell 4.1% to 14,324.75, Singapore’s Straits Times Index slid 2.1% to 1,764.94 while Japan’s Nikkei 225 gave up 2.79% to 8,586.11 and Shanghai’s Composite Index lost 2.01% to 2,390.09. Light crude oil fell US$1.05 to US$48.10 while crude palm oil futures fell RM4 to RM2,131. Bursa fell 25 sen to RM5.50 with 1.39 million shares done, Hong Leong Financial Group and YTL 15 sen each to RM5 and RM7.10, Genting 14 sen to RM4.32 and Parkson 12 sen to RM4. Axiata was the most active with 18.9 million shares done, rising seven sen to RM1.86 when the shares went ex. Selling on Maybank-OR eased after the tumble yesterday, easing two sen to RM1.04.Maybank lost four sen to RM3.88. Genting lost 14 sen to RM4.32, WCT four sen to RM1.41, MRCB three sen to 94.5 sen and E&O two sen to 57 sen. BAT was the top gainer, adding 25 sen to RM46 while Mamee added 10 sen to RM2.10 and QSR eight sen to RM2.76. KL Kepong gained 10 sen to RM11 but IOI Corp fell two sen to RM4.18. Nagamas rose 7.5 sen to 52.5 sen after confirming Edge FD report it was in talks to sell manufacturing business and planning a share placement plan.