KL shares end lower on big-cap selling

Publish date: Wed, 04 Jun 2014, 05:45 PM
KUALA LUMPUR: Shares on Bursa Malaysia extended earlier losses to close lower today, dragged down by selling in blue-chips and key heavyweights, led by TNB, Genting and Public Bank.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) finished at 1,865.2, down 7.35 points after fluctuating between 1,862.84 and 1,869.6 throughout the day.
TNB fell 14 sen to RM11.98, Genting lost 17 sen to RM9.83 while Public Bank eased 16 sen to RM20.90.
RHB Research Institute Sdn Bhd Technical Analyst Mohammad Ashraf Abu Bakar said selling in big-capitalised stocks, especially Maybank and CIMB, caused the local bourse to cruise lower today.
"Technically, these two stocks were not performing well since the past one year. We have to wait for them to move, thus drive the market higher.
"For now, as long as the composite index move above the support level of 1,860 points, Bursa will not get into downside bias," he told Bernama.
Maybank and CIMB both closed two sen lower at RM9.85 and RM7.22 respectively.
On the scoreboard, the Finance Index fell 49.43 points to 17,222.79, the Plantation Index decreased 36.66 points to 9,182.1, but the Industrial Index rose 6.22 points to 3,164.13.
The FBM Emas Index was 37.12 points lower at 12,926.52, the FBMT100 Index lost 39.19 points to 12,572.97, the FBM 70 slipped 3.72 points to 14,148.7 and
the Ace Index declined 13.84 points to 6,557.77.
Losers led gainers 407 to 333, with 336 counters unchanged, 530 untraded and 18 others suspended.
TAHPS Group, which rose 50 sen to RM10.00, topped the gainers' list while the biggest loser was BAT, which fell 30 sen to RM62.70.
Volume shed to 1.02 billion shares worth RM1.43 billion from 1.19 billion shares worth RM1.97 billion transacted on Tuesday.
Of the heavyweights, Axiata shed one sen to RM6.89, while Sime Darby and Petronas Chemicals were flat at RM9.53 and RM6.76 respectively.
Among the actives, Salcon added 4.5 sen to 83 sen, Xinghe Holdings added one sen to 27.5 sen, while both Tiger Synergy and Hubline were flat at 14 sen and
five sen respectively.
Main Market volume shrank to 809.29 million units worth RM1.37 billion from 1.02 billion units worth RM1.92 billion registered on Tuesday.
Turnover on the ACE market rose to 174.48 million shares valued at RM45.96 million from Tuesday's 133.53 million shares valued at RM38.96 million.
Warrants declined to 32.92 million units worth RM3.75 million from yesterday's 37.49 million units worth RM5.14 million.
Consumer products accounted for 84.05 million shares traded on the Main Market, industrial products 119.02 million, construction 68.81 million, trade and services 320.52 million, technology 35.53 million, infrastructure 13.98 million, SPAC 22.04 million, finance 34.99 million, hotels 1.41 million, properties 92.06 million, plantations 12.88 million, mining 39,000, REITs 3.95 million and closed/fund 9,200.-- Bernama
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fortunebullz

Greeting from Shanghai! Traffic jam here is a murder! Air polluted worse that room full of smokers! Got some free time while wifey enjoy her pampering! Market is terrible and unpredictable lately! This is trait of bear market! Its not easy to predict price movement during bear market! You can be wrong 90% of the time! Best to sideline!

2014-06-04 20:41

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