KUALA LUMPUR, Aug 5 -- Share prices on Bursa Malaysia ended lower today on selling pressure, in particular for the plantation counters following a softening of commodity prices, dealers said.
The benchmark Kuala Lumpur Composite Index (KLCI) closed 19.82 points or 1.73 percent lower at 1,128.86, led by the losses in IOI Corp, Sime Darby and Kepong, which pushed the key index into negative territory.
The KLCI had opened 0.57 of a point lower at 1,148.11 this morning. "A weaker tone for CPO futures weighed on plantation stocks and this sector dragged down the local benchmark index," said Aseambankers Equity Research in a research note today.
"The KLCI is undergoing a slightly softer period for now. We believe that the KLCI may still have some room to run-up on its pre-Budget 2009 rally," it added.
At closing, the Industrial Index declined 42.80 point to 2,368.73, the Finance Index decreased 45.35 points to 8,894.03 and the Plantation Index fell 354.05 points to 5,909.44.
The FBMEmas dropped 120.69 points to 7,519.02, the FBM30 fell 132.02 points to 7,264.38, the FBM2BRD lost 41.91 points to 5,283.53 and the FBMMesdaq was 42.92 points lower at 4,339.74.
Losers led gainers by 425 to 170 with 223 counters unchanged, 534 untraded and 27 suspended.
Turnover increased to 548.009 million shares worth RM1.327 billion from yesterday's 388.208 million shares valued at RM586.664 million.
Among the active stocks, IOI Corp decline 50 sen to RM5.00, AirAsia rose three sen to RM1.13, KNM fell seven sen to RM1.76 and Sime Darby lost 30 sen to RM7.50.
Of the heavyweights, Maybank closed five sen lower at RM7.80, Tenaga Nasional increased 15 sen to RM8.45, KL Kepong slipped 80 sen to RM12.40 and Genting shed five sen to RM5.75.
05/08/2008 05:36 PM
The benchmark Kuala Lumpur Composite Index (KLCI) closed 19.82 points or 1.73 percent lower at 1,128.86, led by the losses in IOI Corp, Sime Darby and Kepong, which pushed the key index into negative territory.
The KLCI had opened 0.57 of a point lower at 1,148.11 this morning. "A weaker tone for CPO futures weighed on plantation stocks and this sector dragged down the local benchmark index," said Aseambankers Equity Research in a research note today.
"The KLCI is undergoing a slightly softer period for now. We believe that the KLCI may still have some room to run-up on its pre-Budget 2009 rally," it added.
At closing, the Industrial Index declined 42.80 point to 2,368.73, the Finance Index decreased 45.35 points to 8,894.03 and the Plantation Index fell 354.05 points to 5,909.44.
The FBMEmas dropped 120.69 points to 7,519.02, the FBM30 fell 132.02 points to 7,264.38, the FBM2BRD lost 41.91 points to 5,283.53 and the FBMMesdaq was 42.92 points lower at 4,339.74.
Losers led gainers by 425 to 170 with 223 counters unchanged, 534 untraded and 27 suspended.
Turnover increased to 548.009 million shares worth RM1.327 billion from yesterday's 388.208 million shares valued at RM586.664 million.
Among the active stocks, IOI Corp decline 50 sen to RM5.00, AirAsia rose three sen to RM1.13, KNM fell seven sen to RM1.76 and Sime Darby lost 30 sen to RM7.50.
Of the heavyweights, Maybank closed five sen lower at RM7.80, Tenaga Nasional increased 15 sen to RM8.45, KL Kepong slipped 80 sen to RM12.40 and Genting shed five sen to RM5.75.
05/08/2008 05:36 PM
Comments