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KL shares end week on easier note

August 24, 2012

KUALA LUMPUR: Share prices on Bursa Malaysia ended the week on an easier note amid  economic growth concerns both locally and in the region, with the FTSE Bursa Malaysia KLCI (FBM KLCI) settling below the 1,650 level, dealers said.

The key index fell 3.39 points to close at 1,648.22, after opening 0.30 of a point better at 1,652.

Affin Bank vice-president and head of retail research Nazri Khan said the key index drifted lower today on thin volume with most investors away on holiday and also due to external factors.

“Today’s session showed that local funds and investors are becoming increasingly concerned about the trajectory of China and its impact on the region following disappointing manufacturing readings, while doubts on a new stimulus from the United States’ central bank sapped confidence,” he told Bernama.

Overall, Nazri said the local market remained defensive and was looking ahead for fresh catalysts.

The Finance Index dwindled 11.76 points to 14,847.38, the Plantation Index decreased 58.079 points to 8,591.23 and the Industrial Index erased 3.63 points to 2,885.05.

The FBM Emas Index eased 26.09 points to 11,266.26, FBM 70 Index dropped 41.069 points to 12,375.15 but the FBM Ace Index climbed 20.55 points to 4,612.68.

Losers led gainers 434 to 322, 331 counters were unchanged, 543 untraded and 17 others suspended.

Total turnover increased to 1.28 billion shares worth RM1.189 billion from 1.192 billion shares worth RM1.303 billion registered yesterday.

Volume on the Main Market rose to 664.312 million units valued at RM1.085 billion from 570.492 million shares worth RM1.177 billion transacted yesterday.

Turnover on the ACE Market decreased to 506.608 million shares worth RM91.786 million from 541.636 million shares valued at RM117.264 million previously.

Warrants improved to 104.510 million units valued at RM11.184 million from yesterday’s 77.472 million units valued at RM8.290 million.

Among volume leaders, Nextnation Communication eased half-a-sen to 14.5 sen, JCY International earned one sen to RM1.13 and Ingenuity Solutions-WA erased one sen to 16 sen.

Of the heavyweights, Maybank inched down two sen to RM9.19, Sime Darby added one sen to RM9.80, CIMB gained three sen to RM7.88 while Petronas Chemicals was flat at RM6.50.

Consumer products accounted for 95.791 million shares traded on the Main Market, industrial products 120.780 million, construction 23.479 million, trade and services 223.597 million, technology 69.315 million, infrastructure 11.798 million, finance 42.595 million, hotels 814,600 million, properties 55.499 million, plantations 17.271 million, mining 5,000, REITs 3.335 million and closed/fund 28,500.



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