KL blue chips help prop up mart

Published: 2009/11/25

Shares on Bursa Malaysia ended mixed yesterday, with buying in bluechips and second liners sustaining the market, said dealers.

The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) rose 1.21 points to 1,272.09 after opening 0.23 point higher at 1,271.11.

The market is expected to see rangebound trading the rest of the week as it consolidates ahead of the year-end, said TA Securities analyst, Stephen Soo.

"It is pretty quiet with players on leave for the school holidays. There's no action here despite the overnight gain on Dow Jones. The sentiment is soft for now," he said.

The FBM Emas Index gained 2.8 points to 8,488.67, the FBM Top 100 increased 5.7 points to 8,297.82 but the FBM 70 fell 3.07 points to 8,232.22. The FBM ACE decreased 36.99 points to 4,331.56 and the Industrial Index rose 4.66 points to 2,692.02.



The Plantation Index jumped 47.08 points to 6,205.92 and the Finance Index advanced 16.46 points to 11,010.5.

"It's been a traders' market with little participation from funds," another dealer at a bank-backed brokerage told Dow Jones Newswires.

"Local government-led funds helped to absorb some selling pressure and this kept the benchmark in positive territory," he added.

Decliners outnumbered advancers by 367 to 292 while 261 counters were unchanged and 355 others untraded.

Overall volume was lower at 759.806 million shares worth RM1.179 billion from Monday''s 808.167 million shares worth RM880.017 million.

Among the actives, Malayan United was flat at 23 sen while Watta gained 1/2 sen to 37.5 sen and Privasia Tech rose 1 sen to 10.5 sen.

Formosa Prosonic fell 1/2 sen to 68.5 sen and MMM-WB went up 1 sen to 2 sen.

As for the heavyweights, Sime Darby, CIMB and Tenaga remained untraded at RM8.95, RM13.00 and RM8.44 respectively. Maybank fell 2 sen to RM6.94, Maxis dropped 12 sen to RM5.20 and Public Bank declined 2 sen to RM10.94.

IOI Corp rose 6 sen to RM5.39, PPB gained 12 sen to RM15.86 and KLK increased 18 sen to RM15.30. Genting Malaysia declined 2 sen to RM2.89 and Tanjong dropped 28 sen to RM16.42.

Meanwhile, FBM KLCI futures ended lower amid a mixed cash market, dealers said.

November 2009 fell 5.5 points to 1,267.5 while December 2009 and June 2010 dropped 6.5 points each to 1,267.0 and 1,270.0 respectively and March 2010 lost 7.0 points to 1,273.0.

Volume rose to 8,450 lots from 3,168 lots on Monday. - Bernama, AFP