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Thursday, January 14, 2010

Small is beautiful >>> Lower Liners Rule The Roost

Share prices on Bursa Malaysia closed easier Wednesday but selective strong buying interest in some blue chips, second & third liners helped sustain the local market.

The benchmark FBM KLCI sank 3.34 points to 1289.51 under profit taking led by Nestle. Among the heavyweights Nestle declined 64 sen to RM33.30, followed by Kuala Lumpur Kepong and CIMB that lost 10 sen each to RM16.90 and RM13.42 respectively.
Other laggards were AXIATA (-3 sen to RM3.13), TNB (-5 sen to RM8.14), IOI (-3 sen to RM5.56) and SIME DARBY (-3 sen to RM8.96). Leading Movers were MISC (+12 sen to RM8.65), GENTING (+6 sen to RM7.39), GENTING MALAYSIA (+3 sen to RM2.89), ASTRO (+7 sen to RM3.38) and PETRONAS GAS (+8 sen to RM9.83).
Activities across the board remains buoyant to somewhat robust with speculative trades seen in many 2nd & 3rd liners. Most of these volume creators are either grouped in FBMSmallcap or FBMACE. Majority of the Top 20 actives are from these 2 sectors.

Among active stocks, Leweko Resources rose one sen to 33 sen, Integrated Rubber increased nine sen to RM1.56 sen, ETI Tech Corp went up half a sen to 40.5 sen, Talam was flat at 12 sen and Stemlife fell eight sen to 68 sen.
Top gainers Top Glove and Putrajaya Perdana rose 40 sen each to RM11.30 and RM3.80 sen respectively. Kossan Rubber rose 37 sen to RM6.83 while AE Multi Holdings lost 29.5 sen to 75 sen.

The FBM Emas Index went down 17.729 points to 8,705.41, the FBM Top 100 Index fell 26.18 points to 8,449.54, the FBM ACE Index decreased 48.91 points to 4,539.28 and the FBM70 Index declined 43.38 points to 8,533.98.

The ACE Market volume decreased to 174.998 million units valued at RM57.558 million from 197.297 million units worth RM73.984 million. Warrants slipped to 23.754 million units worth RM4.491 million from 27.615 million units valued at RM5.483 million.

Consumer products accounted for 64.449 million shares traded on the Main Market, industrial products 516.785 million, construction 63.929 million, trade and services 285.801 million, technology 70.727 million, infrastructure 10.387 million, finance 77.709 million, hotels 962,300, properties 173.274 million, plantations 28.401 million, mining 3,000, REITs 1.571 million and closed/fund 25,000.

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