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9th February, 2010
KUALA LUMPUR: Share prices on Bursa Malaysia continued to register losses Monday on lack of institutional buying, dealers said.
The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) declined 12.68 points or 1.02 per cent to 1,235.22 after opening 0.09 of a point lower at 1,247.81.
Dealers said the bearish sentiment was aggravated by rising sovereign debt woes in Europe and weaker regional markets.
Maybank Investment Bank Bhd said the market could head downwards towards its support level on further pre-Chinese New Year squaring activities.
Its Head of Retail Research, Lee Cheng Hooi, believed the Year of The Tiger would bring about nasty surprises for the local equity market, which was grossly overbought.
“Do bear in mind that 1986 and 1998 brought about crisis low prices for the FBM KLCI. This year (2010) is the Year of the Tiger too and it would be synonymous with the historical 1986 and 1998 cycle lows for the FBM KLCI,” he said.
The Finance Index plumetted 167.171 points to 10,775.56, the Industrial Index lost 14.5 points to 2,561.18 and the Plantation Index fell 18.93 points to 6,130.12.
The FBM Emas Index plunged 85.91 points to 8,319.62, the FBM70 Index gave up 59.9 points to 8,180.78 and the FBM Ace Index wiped out 50.78 points to 4,263.85.
Decliners led advancers 608 to 119 while 214 counters were unchanged, 386 untraded and 25 others were suspended.
Volume fell to 769.125 million shares, valued at RM1.316 billion, from 918.215 million shares, worth RM1.522 billion, last Friday.
Of heavyweights, Sime Darby lost five sen to RM8.31, Maybank slipped nine sen to RM6.72, CIMB Group declined 20 sen to RM12.22 and Maxis eased three sen to RM5.33.
Among actives, KNM Group declined three sen to 78.5 sen, Malaysian Res Corp decreased four sen to 13 sen but ETI Tech rose 1.5 sen to 46 sen and Talam lost half-a-sen to 11.5 sen.
Turnover on the Main Market decreased to 643.208 million shares, valued at RM1.286 billion, from 776.764 million shares, worth RM1.492 billion, last Friday.
The Ace market volume rose to 65.579 million units, worth RM15.938 million, from 49.643 million units, valued at RM11.003 million, previously.
Warrants fell to 38.195 million shares, valued at RM6.88 million, against Friday’s 57.859 million units worth RM8.807 million.
Consumer products accounted for 31.981 million shares traded on the Main Market, industrial products 165.912 million, construction 66.357 million, trade and services 178.29 million, technology 24.422 million, infrastructure 9.275 million, finance 72.544 million, hotels 2.530, properties 69.729 million, plantations 20.854 million, mining 11,000, REITs 1.277 million, and closed/fund 24,000.
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