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Local Mart Hold Steady On Lower Volume Rising 0.3%

Of the 30 components of KLCI, 18 closed in the positive territory, six ended lower while the remaining six were unchanged. Volume for the component stock was 85 million shares worth RM512 million. 30 components of KLCI, 18 closed in the positive territory, six ended lower while the remaining six were unchanged. Volume for the component stock was 85 million shares worth RM512 million.

The FBM KLCI added 3.39 points or 0.27% to 1,267.15 points, slightly below the day's highest level of 1,267.68 points. It opened 0.11 of a point higher at 1,263.87 points, marginally above the day's lowest level of 1,263.07 points. Trading band was only 4.61 points.

Cautious sentiment still prevailed with investors focusing their attention on lower liners before the coming Chinese New Year celebrations.

Market breadth was positive with gainers leading losers 459 to 221. Volume however contracted to 865 million shares worth RM1,131 million from 928 million shares valued at RM1,346 million Tuesday.

The Finance Index rose 12.88 points to 11,152.92, the Industrial Index gained 18.10 points to 2,606.09 and the Plantation Index added 12.76 points to 6,216.5. The Properties Index increased 6.89 points to 790.07 points..

The FBM Emas Index went up 34.23 points to 8,542.99 and the FBM70 Index advanced 35.93 points to 8,385.33.

The FBM Ace Index was 46.97 points higher at 4,387.61 points.

Among the heavyweights, Sime Darby lost one sen to RM8.47, Maybank gained 10 sen to RM6.90, CIMB Group declined two sen to RM12.74 and Maxis dropped one sen to RM5.38.

EON Capital was the biggest loser following news of its decision to reject the takeover bid by Hong Leong Bank, going down 23 sen to RM6.83.

Actively traded stocks include TALAM, MEMS, IRCB, MEDAINC, MRCB-OR, ASIAPAC, L&G, LCL, KNM and JAKS.

Leading Movers were MAYBANK (+10 sen to RM6.90), AXIATA (+6 sen to RM 3.40), MISC (+19 sen to RM8.25), GENTING MALAYSIA (+4 sen to RM2.80) and HONG LEONG BANK (+18 sen to RM8.38).

Lagging Movers were PUBLIC BANK (-2 sen to RM11.54), CIMB (-2 sen to RM12.74), SIME DARBY (-1 sen to RM8.47), MMC (-3 sen to RM2.33) and AMMB (-1 sen to RM4.90).