Investors on Bursa take in profits

Share prices on Bursa Malaysia remained lower at close yesterday as investors took in profits ahead of a string of corporate results scheduled to be released this week, dealers said.


The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) eased 6.1 points to 1,326.67, dragged down by losses mostly in DiGi.Com.

However, some buying of MISC's shares managed to cap some of the losses, a dealer said.

The FBM KLCI which opened 3.04 points lower at 1,329.73, moved between 1,321.25 and 1,329.73 during trade yesterday.

The Finance Index dropped 85.25 points to 11,882.58, the Plantation Index declined 23.71 points to 6,493.71,



The Industrial Index added 0.41 point to 2,754.76 and the FBM Emas Index was 64.58 points lower at 8,986.02.

The FBM70 lost 116.0 points to 8,934.37 and the FBM ACE Index declined 64.24 points to 4,143.08.

Losers outpaced gainers by 622 to 133 while 220 counters were unchanged, 412 untraded and 53 suspended.

Volume stood at 812.973 million shares, worth RM1.21 billion, up from 783.78 million shares valued at RM1.207 billion last Friday

Maybank Investment, in its research note said the local market appeared to be weaker and poised to break below the key 1,330 support level.

One of the dealers said external factors like Goldman Sachs' fraud case will likely influence investors to stay on the sidelines.

However, a string of good corporate results which are expected this week, would likely cushion some of the negative impact, he said. Both Tenaga Nasional and Bursa Malaysia are expected to announce their results tomorrow, while BAT's results are due on Thursday.

Volume on the Main Market rose to 645.018 million shares worth RM1.149 billion from last Friday's closing of 636.793 million shares worth RM1.165 billion.

The ACE Market volume, however, declined to 66.456 million shares valued at RM13.757 million versus 74.148 million shares worth RM11.042 million previously.

Warrants transactions rose to 72.032 million units worth RM14.096 million from 56.347 million units worth RM12.187 million, registered on Friday.

Consumer products accounted for 32.007 million shares traded on the main market, industrial products 169.984 million, construction 34.818 million, trade and services 220.101 million, technology 30.514 million, infrastructure 22.201 million, finance 68.107 million, hotels 7.601 million, properties 43.493 million, plantations 13.64 million, mining 16,700, REITs 2.473 million and closed/fund 61,000. - Bernama