BURSA MALAYSIA: KL Shares End Firmer On Continuous Buying

Continuous interest on heavyweights and lower liners prompted share prices on Bursa Malaysia to close firmer on Thursday amid the lack of fresh market-moving news locally, dealers said.

At 5 pm, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) ended 7.9 points or 0.73 percent higher at 1,163.43. It opened 4.0 points higher at 1,159.53 this morning. The key index moved between 1,155.53 and 1,164.97 level throughout the trading session today. An analyst said sentiments remained intact, as investors were anticipating good news from the U.S. later today. He said the U.S. Federal Reserve was expected to release a positive regional manufacturing activity data tonight. The local market could go up further but the upside is expected to be limited in a tight range trading between the 1,150-1,170 level.

"If we look back the past three days, the market did not really move. The uptrend is just because the market is trying to maintain itself at the current level. "It will be only a small technical rebound as it needs a fresh catalyst locally to boost the market," Phua Kwee Hock of SJ Securities said.

The technical analyst said investors were also looking forward for new leads from the U.S. employment data due to be released tomorrow. A bullish data is being anticipated.

At close, the Finance Index was up 49.96 points to 9,405.8, the Plantation Index added 64.82 points to 5,842.6 but the Industrial Index decreased 1.98 points to 2,562.49. The FBM Emas Index rose 57.26 points to 7,865.11, the FBM Top 100 went up 54.47 points to 7,635.64 while the FBM ACE Index gained 27.02 points to end at 4,201.57.

Gainers led losers 438 to 213 while 213 counters closed unchanged, 397 untraded and three suspended. Turnover decreased to 684.631 million shares worth RM982.331 million from 875.158 million shares valued at RM1.301 billion on Wednesday.

Volume leader, KNM Group rose 2.5 sen to settle at 78 sen, MSports lost half a sen to 76 sen, while Compugates and Metronic remained at seven sen and nine sen respectively.

Xian Leng declined six sen to 50 sen, Genting Malaysia gained four sen to RM2.78 and Huaan added half a sen to 54.5 sen.

Among heavyweights, Sime Darby was four sen higher at RM8.23, Maybank went up one sen to RM6.41, Bumiputra-Commerce rose eight sen to RM10.36 while Tenaga remained at RM8.00.

Volume on the Main Market was lower at 627.212 million shares worth RM982.331 million from Wednesday's 808.349 million shares worth RM1.287 billion.

The ACE market volume dipped to 30.092 million shares valued at RM5.764 million versus 34.237 million shares valued at RM6.408 million previously.

Warrants declined to 25.571 million shares worth at RM5.306 million from 28.835 million units worth RM5.625 million yesterday.

Consumer products accounted for 67.070 million shares traded on the Main Market, industrial products 136.074 million, construction 48.655 million, trade/services 224.709 million, technology 27.174 million, infrastructure 9.139 million, finance 49.674 million, hotels 1.629 million, properties 47.474 million, plantations 14.286 million, mining 16,100, REITs 1.272 million and closed/fund 38,000.