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Malaysia Market Watch 20th September 2012

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SHARE prices on Bursa Malaysia ended yesterday’s trading on a positive note, helped by gains in most heavyweight stocks, dealers said.

After hovering in a tight range of between 1,640.81 and 1,647.32, the FTSE Bursa Malaysia KLCI (FBM KLCI) ended 5.78 points, or 0.35 per cent, higher at 1,646.11.

A dealer said the local bourse was influenced by positive sentiment despite the cautious trading on regional stock markets.

“In Tokyo, the sentiment was dampened by tensions between Japan and China over a dispute on a group of islands, which has sparked widespread anti-Japan protests in China and calls for a boycott of Japanese goods and services,” he said.

“Instability in the global oil price has also kept investors on the sidelines,” another dealer said.

Gainer led losers by 353 to 332, while 361 counters were unchanged, 583 untraded and 15 others suspended.

Among active counters, Ingenuity Solutions lost six sen to 13 sen, Takaso Resources advanced 3.5 sen to 26.5 sen, while Astral Supreme and AT Systematization earned three sen each to 38.5 sen and 21.5 sen respectively.

As for heavyweights, Maybank and Sime Darby were flat at RM9.46 and RM9.79 respectively, CIMB increased one sen to RM7.69 and Axiata added 16 sen to RM6.28.

Meanwhile, FBM KLCI futures contracts closed higher in tandem with the positive trade on the cash market, dealers said.

September 2012 and March 2013 jumped seven points each to 1,640 and 1,634.5 respectively, while October 2012 and December 2012 surged 8.5 points each to 1,642 and 1,639.5 respectively.

Turnover slid to 3,548 lots from 4,253 lots, while open interest fell to 31,228 contracts from 32,317 contracts on Tuesday. Bernama (BTimes)