Malaysia Market Watch 17th July 2012

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BURSA Malaysia closed mixed yesterday in tandem with the softer regional markets as investors adopted a wait-and-see attitude, dealers said. .

They said the investors were also awaiting more clues by policymakers to boost global economic growth The benchmark FBM KLCI fell 3.69 points to 1,650.09.

Vice president and head of retail research, Affin Investment Bank, Dr Nazri Khan, said the FBM KLCI’s underlying trend will remain firm in the near term with the next target at 1,660, to be largely driven by large-capitalised and quality defensive stocks.

“The index ‘s underlying trend remains upbeat ahead of Budget 2013 and positive corporate results as well as the better-than-expected growth in Malaysia’s second quarter gross domestic product,” he said

Advancers outnumbered decliners by 432 to 332 while 322 counters were flat, 536 untraded and 15 others suspended.

Of the actives, Ingenuity Solutions gained seven sen to 30 sen, Ingenuity Solutions warrants rose 5.5 sen to 18.5 sen, 1 Utopia added one sen to 7.5 sen and Astral Supreme increased four sen to 38 sen.

Among heavyweights, Maybank gained three sen to RM8.94, Sime Darby lost one sen to RM9.79, CIMB eased three sen to RM7.88 and Petronas Chemicals rose one sen to RM6.63.

Meanwhile, FBM KLCI futures closed mostly higher as recent losses encouraged investors to consolidate their position ahead of the Hari Raya celebrations, dealers said.

August 2012 rose one point to 1,650.50, Sept 2012 gained two points to 1,650.50, December 2012 was unchanged at 1,645 and March 2013 added two points to 1,644.

Turnover fell to 2,107 lots from 2,551 lots yesterday while open interest fell to 38,394 contracts from 38,695 contracts recorded on Thursday. Bernama -BTimes