Malaysia Market Watch 16th August 2012

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SHARE prices on Bursa Malaysia closed lower, reflecting the weakness in regional bourses, dealers said.

However, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) finished 0.88 point higher at a new-all-time high of 1,653.78, driven by gains in selected heavyweights.

Dealers said market breath was bearish as investors lost hope for more stimulus measures expected from policymakers in major economies to spur weak global economic growth.

Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz announced that the Malaysian economy recorded a higher-than-expected second quarter growth of 5.4 per cent.

“However, negative external developments kept investors sidelined,” said a dealer.

The Finance Index declined 29.69 points to 14,787.10, the Industrial Index eased 14.48 points to 2,903.48 and the Plantation Index fell 5.97 points to 8,725.04. The FBM Emas Index slipped 0.17 point to 11,300.26 but the FBMT100 Index rose 0.77 point to 11,125.18.

Meanwhile, the FBM70 Index dipped 23.47 points to 12,416.63 but the FBM ACE Index increased 11.94 points to 4,471.95.

Decliners outnumbered advancers 410 to 335 while 343 counters were unchanged, 540 others untraded and 21 others were suspended.

Meanwhile, FBM KLCI futures contracts on Bursa Malaysia Derivatives closed lower in line with the easier cash market.

August 2012 dropped two points to 1,649.50, Sept 2012 declined three points to 1,648.50 and December 2012 slipped one point to 1,645.

Turnover decreased to 2,551 lots from 2,842 lots on Tuesday while open interest dropped to 38,695 contracts from 38,877 contracts before. Bernama