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Share prices close lower due to lack of catalysts

September 18, 2012

KUALA LUMPUR: Share prices on Bursa Malaysia closed lower today due to lack of internal and external catalysts to spur demand for local stocks, dealers said.

After seeing a “see-saw” trading today, the FTSE Bursa Malaysia KLCI (FBM KLCI) ended 2.62 points or 0.159% lower to 1,640.33.

The index hovered between 1,640.33 and 1,651.66 levels.

Another dealer said the recent third quantitative easing programme announced last week by the Federal Reserve to boost the US economy has given only minimal impact to the local bourse.

“Some indices also saw profit-taking after recent gains,” he said.

Back home, the market saw mild trading today, as investors are still awaiting Budget 2013 plans to be announced by Prime Minister Najib Tun Razak less than 10 days from now.

“We also expect the upcoming budget to be an election budget… like always, the government will address people’s issues and come out with plans to further spur our economy,” he added.

The Finance Index rose 5.85 points to 14,769.05, Plantation Index lost 41.51 points to 8,425.63 and the Industrial Index gained 5.76 points to 2,824.76.

The FBM Emas Index fell 20.391 points to 11,155.22, FBM Mid 70 Index slipped 34.30 points to 12,082.07, while FBM Ace advanced 10.02 points to 4,363.84.

Losers led gainers by 401 to 345 while 310 counters were unchanged, 565 untraded and 15 others suspended.

Total turnover was down to 843.273 million shares worth RM1.875 billion from 1.07 billion shares valued at RM2.07 billion last Friday.

Among active counters, AirAsia lost 13 sen to RM2.97, Maybank added six sen to RM9.46 and Astral Supreme rose four sen to 35.5 sen.

Heavyweights, Sime Darby and CIMB lost one sen each to RM9.79 and 7.68, respectively, while Petronas Chemicals was 1.5 sen lower to RM6.38.

Volume on the Main Market fell to 640.981 million units worth RM1.844 billion from 784.38 million units worth RM2.03 billion last Friday.

Turnover on the ACE Market dwindled to 154.229 million shares valued at RM27.925 million from 209.92 million shares valued at RM34.7 million last week.

Warrants went down to 43.165 million units worth RM3.021 million from 66.41 million units worth RM4.9 million last Friday.

Consumer products accounted for 45.539 million shares traded on the Main Market, industrial products 98.920 million, construction 26.175 million, trade and services 304.314 million, technology 14.163 million, infrastructure 17.574 million, finance 74.825 million, hotels 729,500 million, properties 37.729 million, plantations 18.553 million, mining 900, REITs 2.443 million and closed/fund 13,000 million

– Bernama


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