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26th August, 2010
KUALA LUMPUR: Share prices closed lower Wednesday as the key FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) struggled to stay at the 1,400-point level, dealers said.
The FBM KLCI dipped below the 1,400-level to close 8.80 points lower at 1,396.97.
Dealers said the market went into negative territory after a eight-day rally as investors cut their positions on concerns that the global economic recovery could be derailed amid dismal economic data in the United States and Europe.
Major heavyweights except for Maybank and Genting slipped into the red as selling pressure persisted after the eight-day rally.
The Finance Index shed 75.16 points to 12,642.31 and the Plantation index declined 59.96 points to 6,500.27 while the Industrial Index lost 34.25 points to 2,658.85.
The FBM Emas Index slipped 69.64 points to 9,358.74, the FBM70 Index slid 97.521 points to 9,165.52 and the FBM ACE Index dwindled 48.14 points to 3,738.70.
Turnover was lower at 873.09 million shares worth RM1.73 billion from 894.451 million shares worth RM1.651 billion Tuesday.
Decliners beat advancers 585 to 186 while 268 counters were unchanged, 327 untraded and 38 suspended.
Among actives, Time Dotcom shed two sen to 55 sen, Axiata Group dwindled eight sen to RM4.42, Tejari Technologies eased two sen to 25.5 sen and SIG Gases was flat at 88.5 sen.
For heavyweights, CIMB shed six sen to RM7.85, Maybank rose one sen to RM8.13, Proton slid 10 sen to RM4.63 and Genting improved nine sen to RM8.99.
The Main Market volume surged to 766.997 million shares worth RM1.711 billion from 736.642 million shares worth RM1.622 billion Tuesday.
Warrants dropped to 44.912 million units valued at RM7.603 million from 53.562 million units worth RM8.191 million Tuesday.
Turnover on the ACE market dwindled to 55.517 million units at RM10.867 million from 99.569 million units worth RM17.799 million Tuesday.
Consumer products accounted for 52.5 million shares traded on the Main Market; industrial products 143.3 million; construction 82.6 million; trade and services 267.2 million; technology 22.7 million; infrastructure 37.9 million; finance 70.4 million; hotels 1.3 million; properties 60.5 million; plantations 17.1 million; mining 2,000; REITs 10.8 million; and closed/fund 114,800.
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