Kl shares close on firm note

Publish date: Tue, 27 May 2014, 06:20 PM
KUALA LUMPUR: Share prices on Bursa Malaysia closed on a firm note today as bargain-hunters triumphed over profit-takers.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) finished at 1,867.57 points, up 4.77 points, after fluctuating between 1,862.52 points and 1,869.79
points throughout the day.
Bargain-hunters beat profit-takers as gainers led losers 366 to 364, with 374 counters unchanged, 515 untraded and 17 others suspended.
Volume rose to 1.59 billion shares worth RM1.71 billion against 1.44 billion shares worth RM1.732 billion recorded on Monday.
Hong Leong Investment Bank Research said after surging to an all-time high of 1,889.5 points on May 19, the index staged a mild pullback to digest the short-term selling pressure amid the overbought technical indicators.
"For the rest of the week, the FBM KLCI will likely remain in consolidation mode and trading volume is expected to be lacklustre during this final week of the first quarter of 2014 reporting season, ahead of the release of new Shariah-compliant list by the Securities Commission by week-end," it said in a note.
On the technical front, the research house said unless FBM KLCI could swiftly reclaim above the support-turned resistance levels of 1,869 to 1,876 points in the immediate term, it would likely drift down further.
Of the heavyweights, Maybank rose 6.0 sen to RM9.94, Public Bank soared 18 sen to RM20.06, TNB and CIMB gained 2.0 sen each to RM12.16 and RM7.33,
respectively, while Axiata was flat at RM6.89.
Among actives, Olympia Industries appreciated 3.0 sen to 17 sen, MAS was unchanged at 17.5 sen and Advance Synergy lost 3.5 sen to 22.5 sen.
On the scoreboard, the Finance Index surged 61.1 points to 17,110.19 points, the Plantation Index added 8.97 points to 9,144.1 points but the Industrial Index eased 3.43 points to 3,183.69 points.
The FBM Emas Index was 30.3 points better at 12,909.49 points, the FBMT100 Index gained 26.83 points to 12,558.05 points, the FBM 70 increased 9.33 points
to 14,011.05 points but the Ace Index dwindled 8.23 points to 6,547.52 points.
Main Market volume improved to 1.24 billion units worth RM1.64 billion from 1.11 billion units worth RM1.65 billion recorded yesterday.
Turnover on the ACE market increased to 236.68 million shares valued at RM49.08 million from Monday's 227.6 million shares valued at RM59.83 million.
Warrants advanced to 80.71 million units worth RM19.86 million from 41.94 million units worth RM6.649 million previously.
Consumer products accounted for 68.31 million shares traded on the Main Market, industrial products 215.37 million, construction 50.99 million, trade and services 589.68 million, technology 37.94 million, infrastructure 31.31 million, SPAC 84.38 million, finance 31.24 million, hotels 3.17 million, properties 104.23 million, plantations 24.2 million, mining 53,200, REITs 5.29 million and closed/fund 5,000.-- Bernama
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fortunebullz

We are in bear mode now! Zzzzzzzz!

2014-05-27 23:06

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