money

Global economy environment still not strong

KUALA LUMPUR: Asian market continues to post mixed performance at midday as Wall Street’s modest upside does little to uplift lingering caution on the global economic environment.

Among the global economic news are UK jobless claims unexpectedly jumped in January to the highest level since 1997 and the US posted a budget deficit for 16th straight month in January, reflected the economy’s recovery has yet to bolster government revenue.

The benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) added 2.26 points to 1,261.33 at midday with total volume of 288.83 million shares valued at RM422.2mil.

There were 199 gainers, 277 losers and 237 counters traded unchanged on the Bursa Malaysia.

Heavyweights, Tenaga gained 14 sen to RM7.99 while Maybank add 4 sen to RM6.93. Among the top gainers are KLK and Tanjong- both added 20 sen to RM16.76 and RM17.96 respectively.

Other than Japan’s Nikkei 225 that added 10.82 points or 0.10% to 10,317.65 majority of regional bourses seemed to post subdued midday performance.

Seoul’s Kopsi Index shed 3.11 points to settle at 1,624.32, Straits Times Index in Singapore lost 9.83 points or 0.35% to 2,784.23 followed by Jakarta Composite Index that was down by 13.91 points or 0.54% to 2,567.43.

Nymex crude oil futures shed 42 sen to US$76.91 per barrel.