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Bursa shares end on weaker note

August 23, 2012

KUALA LUMPUR: Share prices on Bursa Malaysia ended easier today as key bluechip counters struggled to find a footing, unlike the uptrend in the regional markets which were lifted on hopes of more monetary stimulus plan in the United States.

The FTSE Bursa Malaysia KLCI (FBM KLCI) closed 0.64 of a point easier at 1,651.61, after hovering between 1,650.53 and 1,655.24 throughout the day.

InterPacific research head Pong Teng Siew said Petronas Dagangan’s sharp fall of 32 sen to RM22.68 was the major contributor to the lacklustre trading today, followed by Petronas Gas which was down four sen to RM19.46 and PPB Group which slid 10 sen to RM14.20.

“The CI struggled just below the break even point in the second half of the day, bucking the positive regional sentiment.

“Trading in Petronas Dagangan and Petronas Gas counters have been volatile recently, either gaining or going down sharply,” Pong told Bernama.

“Today, the index component stocks reversed yesterday’s gains which contributed to the downtrend in the key index. However, most likely this will not continue to pare further losses tomorrow,” he added.

He said the weak data from a survey of China’s manufacturing activity also weighed on the sentiment today outweighing the expectations from the US Federal Reserve’s move to deliver a fresh round of monetary stimulus.

Pong said today’s market volume was also thin and below the average level, adding that investors were still away on holiday. The market had been closed on Monday and Tuesday for the Hari Raya celebrations.

Losers led gainers 419 to 305 while 336 counters were unchanged, 571 untraded and 17 others suspended.

Turnover depreciated to 1.192 billion shares worth RM1.303 billion from 1.353 billion shares worth RM1.623 billion yesterday.

The Finance Index added 10.229 points to 14,859.14, the Plantation Index shed 11.471 points to 8,649.31 and the Industrial Index eased 4.47 points to 2,888.68.

The FBM Emas Index slid 9.45 points to 11,292.35, the FBM Mid 70 Index dipped 35.5 points to 12,416.22 but the FBM ACE Index gained 15.3 points to 4,592.13.

Volume on the Main Market dwindled to 570.492 million shares worth RM1.177 billion from Wednesday’s 705.500 million units valued at RM1.493 billion.

Turnover on the ACE Market fell slightly to 541.636 million shares valued at RM117.264 million from 548.877 million shares worth RM117.725 million previously.

Warrants also fell to 77.472 million units valued at RM8.290 million from the 90.554 million units worth RM10.732 million yesterday.

Among top gainers, Ingenuity Solutions-Wa eased one sen to 17 sen, Ingenuity Solutions earned six sen to 46.5 sen and Nextnation Communication advanced 2.5 sen to 15 sen.

As for heavyweights, Maybank was flat at RM9.19, Sime Darby fell one sen to RM9.79, CIMB perked four sen to RM7.85 and Petronas Chemicals erased five sen to RM6.50.

Consumer products accounted for 65.499 million shares traded on the Main Market, industrial products 91.332 billion, construction 25.795 million, trade and services 181.415 billion, technology 81.084 million, infrastructure 10.741 million, finance 49.608 million, hotels 968,900, properties 34.949 million, plantations 24.808 million, mining nil, REITs 4.194 million and closed/fund 32,800.

– Bernama


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