Published: 2009/11/06
Malaysian shares closed mixed yesterday with blue-chips held steady as investors look forward to the listing of Maxis Bhd, dealers said.
The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) rose 0.12 point to close at 1,253.96, boosted by Sime Darby, CIMB and Tanjong.
The FBM KLCI opened 1.22 points lower at 1,252.62.
It moved between 1,252.62 and 1,253.96.
A dealer said Maxis' listing was expected to push the FBM KLCI higher and attract more investors looking for quality shares.
MIMB Investment Bank said Maxis' initial public offering (IPO) came at the right time.
"It coincided with the improved economic situation, more positive market sentiment, stronger consumer confident and recovery on the worldwide telcommunications industry," it said.
The FBM Emas Index slipped 7.511 points to 8,388.39, FBM Top 100 declined 6.07 points to 8,178.59 and the FBM 70 fell 33.22 points to 8,110.05.
The FBM ACE Index, however, gained 117.82 points to 4,598.61. The Finance Index advanced 14.521 points to 10,712.41.
The Industrial Index eased 0.63 point to 2,687.5 and the Plantation Index declined 12.5 points to 6,064.36.
Decliners led advancers by 382 to 294 while 234 counters were unchanged and 361 untraded.
An analyst said the FBM KLCI may extend its gains today on expectation the banking and finance stocks may provide a strong catalyst.
"We are expecting the key index to move between the 1,260 and 1,270 levels," he said.
Meanwhile, TA Securities said market players should return in stronger numbers given the resurgent buying momentum on the broader market.
Leading the actives list was Time Engineering, which rose 2 sen to 53.5 sen, REDtone gained 9.5 sen to 41.5 sen and ASIAEP added 1 sen to 10 sen.
Among heavyweights, Sime Darby rose 7 sen to RM9.00, Maybank added 1 sen to RM6.83, CIMB was 6 sen higher at RM12.70.
Meanwhile, FBM KLCI futures contracts closed lower on lack of market stimulating news, dealers said.
November ended 6 points lower at 1,255.0, December eased 5.5 points to 1,255.5, March 2010 declined six points to 1,255.0 and June 2010 fell 5.5 points to 1,254.5. The day's volume declined 3,828 lots from Wednesday's 6,825 lots while open interest increased to 16,459 contracts from 16,447 contracts previously. - Bernama
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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