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17th March, 2010
KUALA LUMPUR: Share prices on Bursa Malaysia closed lower Tuesday on profit-taking in recent gainers, with trading cautious as most investors stayed on the sidelines awaiting fresh leads, dealers said.
At close, the benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) was 0.81 of a point lower at 1,298.86. It had opened 0.34 of a point better at 1,300.
The index was unable to hold on to the crucial 1,300 level.
Dealers said investors were reluctant to take heavy positions ahead of the outcome of the US Federal Reserve’s policy meeting later in the day.
A dealer said most market players expect the US to hold interest rates near zero and keep its promise to maintain rates low for a long time to help support the domestic economy.
“However, investors will be looking for clues on future moves to guide markets,” the dealer added.
The Finance Index slipped 24.85 points to 11,549.91 and the Plantation Index declined 8.73 points to 6,360.09. The Industrial Index, however, was 14.69 points higher at 2,631.03.
The FBM Emas Index eased 4.73 points to 8,722.93, the FBM70 dipped 10.69 points to 8,504.65 while the FBM Ace Index decreased 15.91 points to 4,189.68.
Decliners led advancers by 361 to 290 while 292 counters were unchanged with 402 untraded and 32 others suspended.
Tuesday’s turnover was lower at 678.597 million shares worth RM1.059 billion against Monday’s 764.553 million shares valued at RM1.098 billion.
Of the heavyweights, Maybank declined one sen to RM7.31, CIMB Group fell 12 sen to RM13.56 and Maxis dipped six sen to RM5.29 while Sime Darby gained seven sen to RM8.55.
Among actives, Frontken Corp-Warrants was five sen higher at 5.5 sen while Nam Fatt Corp and Berjaya Corp-LC dropped 6.5 sen and 5.5 sen respectively to 12 sen and 98.5 sen.
Turnover on the Main Market fell to 583.321 million shares valued at RM1.027 billion from 639.736 million shares valued at RM1.046 billion Monday.
The ACE Market volume declined to 51.662 million units worth RM12.679 million from the 65.282 million units worth RM20.298 million previously.
Warrants was lower at 23.315 million shares valued at RM3.102 million from 32.175 million units valued at RM5.157 million Monday.
Consumer products accounted for 26.24 million shares traded on the Main Market, industrial products 116.649 million, construction 68.14 million, trade and services 205.908 million, technology 34.718 million, infrastructure 9.695 million, finance 47.195 million, hotels 5.39 million, properties 48.283 million, plantations 19.418 million, mining 2,000, REITs 1.594 million and closed/fund 85,500.
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