KL lower on economic concerns

Share prices on Bursa Malaysia ended easier yesterday as the market stayed in negative territory in tandem with the losses on regional markets, dealers said.

Thye also said investors had reassessed their risk on renewed concerns over the pace of the global economy, after discouraging data on new US housing sales.

The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) was 7.3 points lower at 1,241.75 after opening 5.46 points easier at 1,243.59. The FBM Emas Index dropped 54.11 points to 8,313, the FBM Top 100 gave up 51.78 points to 8,113.29 while the FBM 70 fell 67.78 points to 8,102.13 and the FBM ACE Index declined 89.9 points to 4,259.10. The Finance Index plunged 107.19 points to 10,441.14, the Industrial Index dropped 9.09 points to 2,670.16 and the plantation Index declined 43.4 points to 6,112.53.

Losers led gainers by 467 to 216 while 234 counters were unchanged and 357 others untraded. Turnover was lower at 932.963 million shares worth RM1.3 billion from the 939.326 million shares worth RM1.093 billion on Wednesday.

For the heavyweights, Sime Darby eased 9 sen to RM8.90, Maybank declined 12 sen to RM6.63, CIMB Group Holdings lost 12 sen to RM12.32 and Tenaga Nasional slid 4 sen to RM8.44. As for the actives, KNM Group declined 2 sen to 77.5 sen, Ingress slipped 7 sen to 76 sen, TPC Plus added 1 sen to 30 sen and DPS Resources rose 1.5 sen to 19 sen.

Shares of auto parts suppliers such as Tracoma and Hirotako rose following the announcement of the revised National Automotive Policy (NAP) on Wednesday.

Hirotako rose 1.5 sen to 91 sen and Tracoma increased 1 sen to 30 sen.

The main market turnover rose to 806.231 million shares worth RM1.251 billion from 791.859 million shares worth RM1.042 billion on Wednesday.

The ACE Market volume declined to 35.911 million units valued at RM8.884 million from 71.012 million units valued at RM16.766 million previously.

Warrants increased to 31.88 million shares worth RM7.383 million from 18.642 million shares worth RM4.281 million previously.

Meanwhile, the FBM KLCI futures closed lower in line with the easier cash market, dealers said.

Spot month October 2009 declined seven points to 1,238.5, November 2009 lost six points to 1,239, December 2009 dropped 4.5 points to 1,240.5 and March 2010 went down 5.5 points to 1,240.5.

Turnover was lower at 13,397 lots compared with 14,439 lots on Wednesday while open interests rose to 22,664 contracts from 17,602 contracts previously. - Bernama