Almost two stocks dropped for every one that rose on the 100-member measure. February index futures retreated 0.8 per cent to 869. The stock market was closed yesterday for a public holiday.
Volume on the Main Board increased to 257.24 million shares worth RM497.23 million from last Friday’s 260.69 million units valued at RM452.62 million.
Turnover on the Second Board advanced to 20.91 million shares valued at RM5.58 million from the 22.28 million shares worth RM5.44 million previously.
Volume on the Mesdaq market decreased to 7.93 million shares worth RM2.78 million from last Friday’s 4.74 million units valued at RM1.63 million.
Warrants declined to 14.68 million shares valued at RM546,443 from 7.14 million shares worth RM1.04 million previously.
Hap Seng Consolidated Bhd slid 14 sen, or 6.5 per cent, to RM2, the second-worst performer on the benchmark Composite Index.
Asiatic Development Bhd dropped 2 sen, or 0.5 per cent, to RM3.88, headed for its first decline since January 16.
Dialog Group Bhd dropped 5.5 sen, or 6.2 per cent, to 83.5 sen, the most since December 4.
Ramunia Holdings Bhd slid 2.5 sen, or 7.3 per cent, to 32 sen, the largest decline since January 20.
Kenanga Investment Bank Bhd cut its rating on the industry to “neutral” from “overweight,” saying companies face a “sluggish” year.
Alliance Financial Group Bhd, a Malaysian bank, fell 3 sen, or 1.6 per cent, to RM1.86, its biggest slide since January 20, after CIMB Investment Bank Bhd downgraded the stock to “neutral” from “outperform,” and lowered the target price to RM2.19
Bumiputra-Commerce Holdings Bhd, Malaysia’s third-largest bank, rose 5 sen, or 0.8 per cent, to RM6.45, the highest level since January 16.
RHB Research Institute said the bank’s “risk-reward profile has changed with upside bias for” its shares as it expects earnings for 2010 to rebound.
RHB maintained its “outperform” rating on the stock with a target price of RM9.80.
IJM Corp, the third-largest Malaysian builder, rose 8 sen, or 2.4 per cent, to RM3.46.
IJM said its construction unit won a RM544.9 million (US$150 million) contract from Bahagia Investment Corp to build a hotel, office and service apartments, in Kuala Lumpur.
MISC Bhd, a Malaysian shipping operator, dropped 15 sen, or 1.7 per cent, to RM8.70, the steepest slide since January 22.
MISC is part of a group of container shipping lines that said today it will scrap its Black Sea service as the global recession damps world trade.
Proton Holdings Bhd rose 3 sen, or 1.7 per cent, to RM1.75, its first gain since January 14.
The state-owned carmaker said it agreed to extend a preliminary agreement with auto retailer Edaran Otomobil Nasional Bhd for a further three months.
The companies are seeking to complete talks to collaborate and rationalize their existing distribution network and service centers, Proton said in a statement.
Sime Darby Bhd dropped 10 sen, or 1.8 per cent, to RM5.40, the most since January 8.
The New Straits Times newspaper reported on January 31 that the government rejected a bid by AirAsia Bhd and Sime Darby to construct a US$$443 million terminal in Labu, a town 50 kilometers (31 miles) southwest of the capital, citing funding concerns. AirAsia climbed 2 sen, or 2.3 per cent, to 89.5 sen. - Agencies