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18th March, 2010
KUALA LUMPUR: Share prices on Bursa Malaysia closed higher Wednesday with the benchmark index sustaining above the 1,300 points level, supported by gains in selected blue chips, dealers said.
The benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) closed 3.09 points higher at 1,301.95, after opening 4.18 points better at 1,303.04.
A dealer said it was important for the FBM KLCI to stabilise at current levels after retracing more than 35 points in the past four trading days.
The local bourse also gained in tandem with key regional markets including Hong Kong, Singapore and Japan.
“Markets regionally, including the local bourse, rose as investors cheered the US Federal Reserve’s pledge to keep rates near zero for a prolonged period.
The move prompted investors to return to riskier investments,” the dealer said.
The Finance Index increased 30.57 points to 11,580.48, the Plantation Index gained 22.56 points to 6,382.65 and the Industrial Index was 7.04 points higher at 2,638.07.
The FBM Emas Index added 33.53 points to 8,756.46, the FBM70 surged 65.93 points to 8,570.59 and the FBM Ace Index rose 29.77 points to 4,219.45.
Gainers beat losers 405 to 268 while 289 counters were flat with 385 untraded and 32 other suspended.
Wednesday’s turnover was higher at 741.842 million shares, worth RM1.218 billion, against Tuesday’s 678.597 million shares valued at RM1.059 billion.
Heavyweights Maybank declined two sen to RM7.29, Sime Darby and Maxis lost one sen each to RM8.54 and RM5.28, respectively, while CIMB Group added two sen to RM13.58.
As for volume leaders, Time Dotcom increased 1.5 sen to 43.5 sen, Measat Global gained 39 sen to RM2.65 and DBE Gurney Resources rose half-a-sen to 24.5 sen.
Turnover on the Main Market rose to 638.657 million shares, valued at RM1.193 billion, from 583.321 million shares valued at RM1.027 billion Tuesday.
The ACE Market volume increased to 59.609 million units, worth RM8.052 million, from 51.662 million units worth RM12.679 million registered previously.
Warrants were higher at 30.232 million shares, valued at RM4.736 million, from 23.315 million units valued at RM3.102 million Tuesday.
Consumer products accounted for 39.574 million shares traded on the Main Market, industrial products 140.747 million, construction 47.584 million, trade and services 191.249 million, technology 45.197 million, infrastructure 49.141 million, finance 38.407 million, hotels 1.306 million, properties 62.062 million, plantations 21.651 million, mining 12,000, REITs 1.539 million and closed/fund 183,600.
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