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16th March, 2010
KUALA LUMPUR: Bursa Malaysia closed on a weak note Monday in line with the regional bourses on worries China may continue to tighten liquidity to curb inflation, dealers said.
They said market players expected China’s central bank to tighten monetary policy after the release of higher-than-expected inflation data last week.
A dealer said trading was narrow as investors stayed on the sidelines ahead of the US Federal Reserve’s meeting today (Tuesday).
“Investors in Malaysia will be waiting for these developments amid a lack of strong leads at home,” he said.
The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) fell 11.53 points to close at 1,299.67. It had opened 0.79 point higher at 1,311.99.
The FBM KLCI moved between the 1,298.75 and 1,313.36 levels during the day.
The Finance Index declined 89.60 points to 11,574.77, Plantation Index tumbled 103.22 points to 6,368.82 and Industrial Index eased 27.15 points to 2,616.34.
The FBM Emas Index fell 78.07 points to 8,727.66, FBM70 dropped 91.35 points to 8,515.35 and the FBM Ace Index slipped 32.74 points to 4,205.59.
Losers thumped gainers by 461 to 211 while 240 counters were flat with 432 untraded and 31 other suspended.
Turnover, however, rose to 764.552 million shares valued at RM1.098 billion, against last week’s 716.232 million shares valued at RM1.336 billion.
Of the heavyweights, Maybank declined one sen to RM7.32, Sime Darby dropped 13 sen to RM8.48, CIMB Group fell 16 sen to RM13.68 and Maxis was unchanged at RM5.35.
Among volume leaders, Talam Corp gained 1.5 sen to 13 sen after the company said it would settle the RM241.36 million owing to the Selangor state government.
Genetec Technology eased 12 sen lower to 48.5 sen and KNM Group eased 1.5 sen to 77.5 sen and Berjaya Corp-LC gained four sen to RM1.04.
Turnover on the Main Market increased to 639.736 million shares valued at RM1.046 billion from 608.291 million shares valued at RM1.296 billion last Friday.
The ACE Market volume rose to 65.282 million units worth RM20.298 million from last week’s 42.117 million units worth RM6.039 million previously.
Warrants, however, declined to 32.175 million shares valued at RM5.157 million from 35.376 million units valued at RM6.485 million on Friday.
Consumer products accounted for 36.081 million shares traded on the Main Market, industrial products 127.075 million, construction 49.697 million, trade and services 164.139 million, technology 24.606 million, infrastructure 18.457 million, finance 40.165 million, hotels 6.747 million, properties 152.130 million, plantations 18.903 million, mining 41,000, REITs 1.495 million and closed/fund 196,300.
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