KL shares close lower Monday

Publish date: Mon, 26 May 2014, 05:40 PM
KUALA LUMPUR: The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) on Bursa Malaysia closed lower today on lack of market-moving news.
The key index finished at 1,862.8, down 6.42 points, after fluctuating between 1,862.27 and 1,871.14 throughout the day.
Maybank Investment Bank Bhd regional chartist Lee Cheng Hooi said negative breadth of the index components were let down by selected blue chips including
Maxis and Petronas Dagangan.
"I believe some foreign and local funds selling were also detected," he told Bernama.
Maxis fell 24 sen to RM6.66 and Petronas Dagangan eased 20 sen to RM23.30.
Foreign investors bought about RM1 billion worth of stocks listed on the local bourse last week, the highest in a week since May 2013, according to MIDF Research.
"It was the fifth consecutive week of buying as foreign investors added RM999.2 million of Malaysian stocks to their portfolio via purchases in the open market," said MIDF Research in a note today.
Lee said the outlook on Bursa Malaysia could be negative for the rest of the week as funds await the new Syariah-compliant list by the Securities Commission due out later this week.
"It is possible some stocks that fund managers have currently may become non-Syariah compliant," he added.
Of the heavyweights, CIMB was flat at RM7.31, TNB slipped four sen to RM12.14 while Maybank and Public Bank shed two sen each to RM9.88 and RM19.88,
respectively.
Among actives, MAS edged up half-a-sen to 17.5 sen, Advance Synergy rose seven sen to 26 sen, Bio Osmo was flat at 15 sen and PDZ Holdings declined one
sen to 15.5 sen.
Decliners trounced advancers 520 to 272, with 307 counters unchanged, 521 untraded and 19 others suspended.
Volume dwindled to 1.44 billion shares worth RM1.732 billion against 1.57 billion shares worth RM1.88 billion recorded on Friday.-- Bernama
Discussions
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fortunebullz

Confirm! We are in bear market now! Best not to buy at all! Keep your money in bear cave and zzzzzz! If you think you are smarter than the bear then go ahead!

2014-05-26 23:51

calvintaneng

Very Good,

Bear Is Here. So Bull is running away. For Deep Value Investors We Already Know What Shares To Buy Up On Market Panic.

Our Radar Is TURNED ON TO DETECT THOSE SHARES THAT WILL FALL WITHIN COLLECTING RANGE.

SELL DURING BULLISH TIMES & BUY DURING BEARISH TIMES.

WE ARE THE 10% CONTRARIANS THAT ACT DIFFERENTLY

2014-05-27 01:35

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