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Share prices close lower on weaker market sentiment

June 12, 2012

KUALA LUMPUR: Share prices on Bursa Malaysia closed lower across the board as investors remained cautious on the back of bearish market sentiment globally, dealers said.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) ended 2.34 points lower at 1,576.07 against yesterday’s close of 1,578.41.

The benchmark index moved between 1,572.53 and 1,576.97 throughout the trading session.

Looking at the Asian region, Japan’s Nikkei 225 dropped 88.18 points to 8,536.72, Hong Kong’s Hang Seng declined 81.07 points to 18,872.56 but Singapore’s Straits Times climbed 5.49 points to 2,793.30.

JF Apex Securities Bhd head of research Lee Chung Cheng said most investors remained wary and stayed sidelined following the weaker market sentiment emanating from European economies and discouraging economic data released by the United States.

“The weaker market sentiment will continue for a while until the public regains their confidence over new changes taking place in the economic structure of European economies,” he said, adding that the economies were still undergoing a recession.

The support level is at the 1,530 points level while the immediate resistance is at the 1,580 points level, he told Bernama.

The Finance Index eased 2.9 points to 14,125.27, the Plantation Index declined 26.57 points to 8,352.5 and the Industrial Index slipped 19.94 points to 2,779.78.

The FBM Emas Index was 16.671 points lower at 10,746.77, the FBM Mid 70 Index dropped 18.56 points to 11,702.45, the FBMT100 decreased 15.89 points to 10,579.99 and the FBM ACE Index fell 42.75 points to 4,179.31.

Losers led gainers 370 to 271 while 351 counters were unchanged, 559 untraded and 14 others were suspended.

Turnover eased to 707.438 million shares, valued at RM1.073 billion, from yesterday’s 732.912 million shares worth RM1.373 billion.

Volume on the Main Market, however, rose to 547.284 million shares worth RM1.047 billion from 522.634 million shares, valued at RM1.338 billion, registered yesterday.

Turnover on the ACE Market dropped to 98.027 million units, valued at RM15.629 million, from Monday’s 134.815 million units worth RM23.591.

Total volume for warrants declined to 61.208 million shares, worth RM10.008 million, compared with 74.255 million shares, valued at RM11.613 million, recorded yesterday.

Of the heavyweights, Maybank remained at its overnight price at RM8.73 while Sime Darby and Petronas Chemicals eased two sen each to RM9.73 and RM6.42, respectively, and CIMB shed one sen to RM7.50.

Actives, Luster-WA was unchanged at 3.5 sen while Luster slipped 4.5 sen to nine sen and Naim Indah eased one sen to 30.5 sen.

Consumer products accounted for 26.101 million shares traded on the Main Market, industrial products 184.375 million, construction 23.12 million, trade and services 191.925 million, technology 17.069 million, infrastructure 14.356 million, finance 41.814 million, hotels 188,600, properties 32.986 million, plantations 10.865 million, mining nil, REITs 4.445 million and closed/fund 39,000.



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