Blue chips ease, CIMB, EON Cap down

Written by Joseph Chin
Wednesday, 30 December 2009 10:26

KUALA LUMPUR: Blue chips fell at the start of trade on Wednesday, Dec 30, on mild selling of bank stocks including CIMB and EON Cap, which was in line with the weaker regional markets.

At 10am, the FBM KLCI fell 4.12 points to 1,271.1. Turnover was 105.72 million shares valued at RM93.32 million. There were 182 gainers, 135 losers and 165 stocks unchanged.

Japan's Nikkei 225 fell 0.26% to 10,610.66, Hong Kong's Hang Seng Index opened 0.2% lower at 21,451.84 and Singapore's Straits Times Index shed 0.05% to 2,868.37. However, Shanghai's Composite Index gained 0.4% to 3,224.57.

Light crude oil fell 13 cents to US$78.74 while US spot gold slipped US$4.14 to US$1,092.70.

HwangDBS Vickers Research said no news may be bad news for the Malaysian stock market. The FBM KLCI - which closed at an intra-day high for the third straight day yesterday - was expected to come off ahead, giving back part of the 19.6-point cumulative gain made over the last five days amid light volume.

Even Wall Street has been slowing down in the run-up to the end of the year. Key U.S. stock indices were little changed last night in the absence of market stimulating developments.

"Trading activity on the local stock exchange, meanwhile, will likely remain sluggish given the dry news flows," it said.

CIMB fell 10 sen to RM13, EON Cap seven sen to RM6.67 while AFG slipped five sen to RM2.74.

MAS fell nine sen to RM2.91, Southern Steel six sen to RM1.88 while MISC slipped four sen to RM8.55.

SAAG was the most active with 9.73 million shares done, unchanged at 17.5 sen. Time rose 1.5 sen to 43 sen, UEM Land four sen to RM,1.53 and Time dotCom one sen higher to 39.5 sen.

Liner hit limit-up, surging 30 sen to 48.5 sen after it announced it had secured a RM1.6 billion district cooling project in Manjung, Perak.

Hai-O continued to climb, adding 19 sen to RM8.68 while Mudajaya rose 14 sen to RM4.98 and NSTP eight sen to RM1.98 while Adventa added seven sen to RM3.14. Ho Hup rose 8.5 sen to 74.5 sen as shareholders accumulated shares ahead of Thursday's EGM to decide on the land disposals.