FBM KLCI Lower In Line With Regional Markets

Budget Week Floated Index Off Low

Share prices on Bursa Malaysia closed lower today in line with weaker regional markets, dealers said.The FTSE Bursa Malaysia Kuala Lumpur Composite Index ended the day at 1,486.57, down 0.84 of a point from yesterday's closing of 1,487.41.

The key index moved between 1,484.30 and 1,493.29 today after opening 2.88 points higher at 1,490.11. A dealer said the local market started the day in positive territory boosted by strong buying in plantation-related stocks following a surge in crude palm oil (CPO) prices yesterday.
However, weaker performance in key regional markets encouraged investors to trim their position.

At close, the Plantation Index rose 70.84 points to 7,107.60 but the Finance Index fell 57.90 points to 13,461.75 and the Industrial Index declined 2.09 points to 2,852.08. The FBM Emas Index eased 2.31 points to 9,988.09 but the FBM70 increased 11.59 points to 9,977.86 and the FBM Ace Index advanced 8.46 points to 4,087.21. Trading volume rose to 1.17 billion shares worth RM1.90 billion from 1.09 billion shares valued at RM1.72 billion yesterday.

Losers led gainers by 420 to 327 while 306 counters were unchanged and 27 others suspended.

Among active stocks, Ho Wah Genting shed 1.5 sen to 26.5 sen but GENS-CC:CW rose four sen to 19 sen and Sinotop added half sen to 15 sen.CIMB Group fell five sen to RM8.10 while Karambunai was unchanged at 13 sen.

Among heavyweights, Maybank edged up one sen to RM9.00, Sime Darby rose six sen to RM8.76 and Maxis added three sen to RM5.35. Volume on the Main Market rose to 917.78 million shares worth RM1.84 billion from 895.24 million shares worth RM1.67 billion yesterday.

Turnover on the ACE Market increased to 95.79 million shares worth RM26.12 million from 89.18 million units valued at RM18.49 million previously. Trading volume on warrants also gained to 145.58 million units valued at RM26.95 million versus 103.57 million units worth RM20.57 million on Monday.

Consumer products accounted for 74.15 million shares traded on the Main Market, industrial products 200.10 million, construction 109.94 million, trade and services 192.55 million, technology 20.12 million, infrastructure 18.10 million, finance 87.06 million, hotels 3.10 million, properties 162.11 million, plantations 44.81 million, mining 286,000, REITs 5.41 million and closed/fund 45,500.