Storify Feed Feedburner Facebook Twitter Flickr Youtube Vimeo

ROS Lboard

Share prices close sharply lower

November 25, 2011

KUALA LUMPUR: Bursa Malaysia shares today closed sharply lower ahead of the long weekend break and bearish regional Asian markets, dealers said.

The market will be closed on Monday for the Awal Muharram holiday.

Dealers said selling pressure emerged in key heavyweights such as MISC and Telekom Malaysia, pushing the FTSE Bursa Malaysia KLCI (FBM KLCI) 16.44 points lower to 1,431.55, its lowest level since Oct 13.

With no progress seen in the resolution of the Euro zone debt crisis, Asian shares sank as deepening sovereign debt in the euro-zone threatened economic growth globally.

Indonesian shares were the major decliners in the Asian region.

Affin investment bank head of retail research, Nazri Khan, said that the market was vulnerable to more selling amid the weak external market sentiment, pressuring the FBM KLCI towards the 1,400-point level.

The Finance Index erased 102.39 points to 12,783.58, the Plantation Index fell 20.61 points to 7,608.73 and the Industrial Index lost 37.03 points to 2,597.09.

The FBM Emas Index dipped 92.99 points to 9,815.97, the FBM70 Index shed 50.939 points to 10,695.91, the FBM Top 100 Index trimmed 96.521 points to 9,619.81 and the FBM ACE Index fell 33.27 points to 4,132.

Decliners led advancers 463 to 298 while 256 counters were unchanged, 456 untraded and 16 others were suspended.

Turnover increased to 1.577 billion shares worth RM1.098 billion from 1.499 billion shares worth RM1.077 billion yesterday.

Among actives, Sumatec Resources rose eight sen to 31 sen, Malayan United Industries rose three sen to 25.5 sen, Sumatec Resources warrants rose four sen to 18 sen and Compugates Holdings increased half a sen to 8.5 sen.

As for Heavyweights, Maybank increased eight sen to RM7.95, while CIMB slipped five sen to RM6.74, MISC slipped 33 sen to RM5.80 and Telekom declined eight sen to RM4.36.

Volume on the Main Market increased to 1.23 billion shares worth RM1.05 billion from 1.11 billion shares worth RM1.02 billion yesterday.

Turnover on the ACE Market decreased to 165.35 million shares worth RM23.27 million from 217.245 million units valued at RM32.760 million yesterday.

Warrants increased to 168.8 million units worth RM25.17 million from 167.955 million units worth RM20.882 million yesterday.

Consumer products accounted for 120.5 million shares traded on the Main Market, industrial products 187.8 million, construction 20.4 million, trade and services 594.6 million, technology 60.7 million, infrastructure 28.7 million, finance 78.5 million, hotels 2.2 million, properties 103.9 million, plantation 19.5 million, REITs 4.8 million and closed/fund 47,000.

- Bernama


Comments

Readers are required to have a valid Facebook account to comment on this story. We welcome your opinions to allow a healthy debate. We want our readers to be responsible while commenting and to consider how their views could be received by others. Please be polite and do not use swear words or crude or sexual language or defamatory words. FMT also holds the right to remove comments that violate the letter or spirit of the general commenting rules.

The views expressed in the contents are those of our users and do not necessarily reflect the views of FMT.

Comments