KUALA LUMPUR, July 15 (Bernama) -- Share prices on Bursa Malaysia ended the
morning session lower today on mild selling in selected heavyweights and lower
liners, particularly plantation and finance related stocks.
Investors were reluctant to take heavy positions amid the inflation fear,
dealers said.
At noon break, the benchmark Kuala Lumpur Composite Index (KLCI) declined
4.66 points or 0.43 percent to 1,139.34 after opening 1.70 points or 0.2 percen
higher at 1,145.70.
The Industrial Index went up 8.31 points to 2,415.45, but the Finance Index
dropped 57.35 points to 8,529.86 and the Plantation Index decreased 60.92
points to 7,112.42.
The FBMEmas fell 37.67 points to 7,577.49, the FBM30 declined 47.03 points
to 7,362.00, the FBM2BRD lost 29.81 points to 5,325.11 and the FBMMesdaq shed
70.63 points to 4,218.33.
Decliners outpaced advancers 299 to 126 while 167 counters were unchanged,
781 still untraded and 32 suspended.
Volume was thin with 177.334 million shares worth RM524.997 million
changing hands.
An analyst from a securities firm said although the local bourse remained
volatile, the KLCI has been holding well above the 1,120 level following
the announcement of leadership handover pact by Datuk Seri Abdullah Ahmad Badaw
to his deputy, Datuk Seri Najib Tun Razak in June 2010.
However, any market rebound this week is unlikely to be sustained
for long owing to a lacklustre volume, he said.
This is further compounded by global economic concerns including inflation
and financial fallouts, and therefore any immediate upside may be capped at
either the 1,162 and 1,180 levels, he said.
Immediate support will be either at 1,141 and 1,120 levels, he said.
The analyst, however, added that a breakdown below the 1,120 level will
grease downside towards the 1,090 level.
Among the actives, Media Prima was unchanged at RM1.83, KNM Group shed five
sen to RM5.85 while IOI Corp was 10 sen lower at RM6.60.
Of the heavyweights, both Sime Darby and Maybank fell five sen each to
RM8.20 and RM7.25 respectively, while Tenaga Nasional eased 10 sen to RM8.05 an
MISC added 25 sen to RM8.55. -- BERNAMA
morning session lower today on mild selling in selected heavyweights and lower
liners, particularly plantation and finance related stocks.
Investors were reluctant to take heavy positions amid the inflation fear,
dealers said.
At noon break, the benchmark Kuala Lumpur Composite Index (KLCI) declined
4.66 points or 0.43 percent to 1,139.34 after opening 1.70 points or 0.2 percen
higher at 1,145.70.
The Industrial Index went up 8.31 points to 2,415.45, but the Finance Index
dropped 57.35 points to 8,529.86 and the Plantation Index decreased 60.92
points to 7,112.42.
The FBMEmas fell 37.67 points to 7,577.49, the FBM30 declined 47.03 points
to 7,362.00, the FBM2BRD lost 29.81 points to 5,325.11 and the FBMMesdaq shed
70.63 points to 4,218.33.
Decliners outpaced advancers 299 to 126 while 167 counters were unchanged,
781 still untraded and 32 suspended.
Volume was thin with 177.334 million shares worth RM524.997 million
changing hands.
An analyst from a securities firm said although the local bourse remained
volatile, the KLCI has been holding well above the 1,120 level following
the announcement of leadership handover pact by Datuk Seri Abdullah Ahmad Badaw
to his deputy, Datuk Seri Najib Tun Razak in June 2010.
However, any market rebound this week is unlikely to be sustained
for long owing to a lacklustre volume, he said.
This is further compounded by global economic concerns including inflation
and financial fallouts, and therefore any immediate upside may be capped at
either the 1,162 and 1,180 levels, he said.
Immediate support will be either at 1,141 and 1,120 levels, he said.
The analyst, however, added that a breakdown below the 1,120 level will
grease downside towards the 1,090 level.
Among the actives, Media Prima was unchanged at RM1.83, KNM Group shed five
sen to RM5.85 while IOI Corp was 10 sen lower at RM6.60.
Of the heavyweights, both Sime Darby and Maybank fell five sen each to
RM8.20 and RM7.25 respectively, while Tenaga Nasional eased 10 sen to RM8.05 an
MISC added 25 sen to RM8.55. -- BERNAMA
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