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12th March, 2010
KUALA LUMPUR: Share prices on Bursa Malaysia closed lower Thursday on profit taking in selected heavyweights after yesterday’s sharp gains, dealers said.
The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) closed 6.79 points lower at 1,321.43. It had opened 1.87 points lower at 1,326.35.
A dealer said the downtrend is temporary and the KLCI will rebound to the 1,340-point level if not today (Friday), then next week.
“The market sentiment is still positive.
“It is just that, the market it is in an overbought position after the recent rally, which pushed the KLCI to a record high as a result of foreign buying interest following the stronger outlook for the economy and the ringgit,” the dealer added.
The Finance Index declined 73.85 points to 11,780.73 and the Industrial Index fell 10.2 points to 2,653.68, but the Plantation Index rose 23.96 points to 6,544.2.
The FBM Emas Index meanwhile, lost 43.859 points to 8,867.48, the FBM70 slipped 22.399 points to 8,651.91 and the FBM Ace Index declined 30.13 points to 4,232.13.
Losers led gainers 440 to 274 while 276 counters were unchanged, 354 untraded and 29 others suspended.
Turnover stood at 792.365 million shares valued at RM1.347 billion from Wednesday’s 934.478 million shares worth RM1.619 billion.
Turnover on the Main Market declined to 661.264 million shares worth RM1.309 billion from 746.690 million shares valued at RM1.563 billion Wednesday.
The ACE Market volume decreased to 66.659 million shares valued at RM9.724 million from Wednesday’s 79.985 million shares worth RM11.721 million.
Warrants fell to 39.077 million units valued at RM6.889 million from the 50.027 million units worth RM8.913 million previously.
Consumer products accounted for 42.877 million shares traded on the Main Market, industrial products 153.115 million, construction 35.003 million, trade and services 233.308 million, technology 29.575 million, infrastructure 13.755 million, finance 57.216 million, hotels 9.429 million, properties 44.307 million, plantations 40.986 million, mining 115,100, REITs 1.441 million and closed/fund 140,000.
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