Malaysia Market Watch 21st September 2012

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SHARE prices on Bursa Malaysia ended yesterday’s trading on an easier note on profit taking activities after the recent market rally, dealers said.

After hovering between 1,620.68 and 1,640.29 yesterday, the FTSE Bursa Malaysia KLCI (FBM KLCI) ended 20.52 points, or 1.25 per cent, lower at 1,625.59.

Etiqa Insurance & Takaful Bhd’s head of research for investment management division, Chris Eng said the local bourse was also influenced by weaker regional sentiment in the Asian market.

“Asian bourses were affected by the weak China Purchasing Managers’ Index (PMI) number,” he said.

HSBC’s preliminary reading of China’s PMI for September was 47.8 compared with a final level of 47.6 last month (a reading above 50 indicates expansion). Meanwhile, Japan’s overseas shipments slid 5.8 per cent on weakness in demand from Europe and China.

The Finance Index fell 197.75 points to 14,590, Plantation Index lost 59.99 points to 8,324.31 and the Industrial Index eased 5.96 points to 2,815.39.

The FBM Emas Index fell 131.84 points to 11,058.17, FBM Mid 70 Index declined 15.07 points to 11,992.86, while the FBM ACE shed 45.6 points to 4,332.9.

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

September 2012 and October 2012 declined 19 points each to 1,621 and 1,623 respectively, December 2012 shed 17.5 points to 1,620, and March 2013 slipped 19.5 points to 1,617.5.

Turnover rose to 7,625 lots from Wednesday’s 3,548 lots while open interest improved to 35,119 contracts from 31,228 contracts previously. Bernama (BTimes)