Market starts 2010 on high note

Published: 2010/01/05

Share prices on Bursa Malaysia ended the new year's first trading day on a higher note as players returned to the market after the long year-end holidays, dealers said.

At the close, the benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBMKLCI) closed 2.97 points, or 0.23 per cent higher, at 1,275.75. It opened 0.47 point lower at 1,272.31.

The Finance Index rose 5.82 points to 11,059.22, the Industrial Index gained 11.13 points to 2,665.64 and the Plantation Index increased 13.95 points to 6,376.86. The FBMEmas Index jumped 53.82 points to 8,561.43, the FBMTop 100 Index rose 37.24 points to 8,346.13, the FBM70 Index gained 108.13 points to 8,377.35 and the FBMACE added 58.03 points to 4,357.61.

In its research note yesterday, OSK Research Sdn Bhd put forth a neutral stance on the market's near-term technical outlook.

"For January, we think the market will perform, with the 'January effect' of early gains in the year having been statistically proven over the past 14 years," it said.



Market breadth was positive with 579 gainers against 159 losers.

Volume increased to 1.130 billion shares worth RM990.954 million compared with 602.417 million shares valued at RM842.709 million last Thursday.

Among actives, SAAG Consolidated inched up half sen to 18 sen, Talam Corporation added one sen to 10.5 sen, LCL Corporation gained eight sen to 23 sen and Scomi Group advanced 3.5 sen to 48 sen.

Of heavyweights, Sime Darby and CIMB Group rose 2 sen each to RM8.99 and RM12.86 respectively, while Maybank was unchanged at RM6.86.

Maxis, IOI Corp and Tenaga Nasional were all unchanged at RM5.37, RM5.47 and RM8.40 respectively.

Consumer products accounted for 40.333 million shares traded on the Main Market, industrial products 237.408 million, construction 70.146 million, trade and services 350.284 million, technology 33.743 million, infrastructure 13.046 million, finance 46.833 million, hotels 6.229 million, properties 130.067 million, plantations 16.763 million, mining 6,000, REITs 775,500 and closed/fund 72,800.

FBM KLCI futures on Bursa Malaysia Derivatives closed higher on the first trading day of 2010 yesterday in line with the firmer cash market, dealers said.

The spot month January 2010 contract rose 13 points to 1,282.0, March 2010 increased 11 points to 1,280.5 and June 2010 added 9.5 points to 1,280.0. The new contract month of February 2010 stood at 1,282.5.

Total volume, however, declined to 4,707 lots from 5,786 lots traded last Thursday while open interest fell to 14,827 contracts from 23,999 contracts previously. - Bernama