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Malaysia Market Watch 24th August 2012

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KUALA LUMPUR – Share prices on Bursa Malaysia ended easier yesterday as key blue-chip counters struggled to find a footing, unlike the uptrend in the regional markets which were lifted on hopes of more monetary stimulus plan in the US.

The FTSE Bursa Malaysia KLCI (FBM KLCI) closed 0.64 point easier at 1,651.61, after hovering between 1,650.53 and 1,655.24 throughout the day.

InterPacific Research Head Pong Teng Siew said Petronas Dagangan’s fall of 32 sen to RM22.68 was the major contributor to the lacklustre trading yesterday, followed by Petronas Gas, which was down four sen to RM19.46, and PPB Group, which slid 10 sen to RM14.20.

Losers led gainers 419 to 305 while 336 counters were unchanged, 571 untraded and 17 others suspended.

The Finance Index added 10.229 points to 14,859.14, the Plantation Index shed 11.471 points to 8,649.31 and the Industrial Index eased 4.47 points to 2,888.68.

The FBM Emas Index slid 9.45 points to 11,292.35, the FBM Mid 70 Index dipped 35.5 points to 12,416.22 but the FBM ACE Index gained 15.3 points to 4,592.13.

Among heavyweights, Maybank was flat at RM9.19, Sime Darby fell one sen to RM9.79, CIMB perked four sen to RM7.85 and Petronas Chemicals erased five sen to RM6.50.

Meanwhile, FBM KLCI futures contracts on Bursa Malaysia Derivatives closed higher amid the weak cash market, dealers said.

August rose 5.5 points to 1,654.5, September gained five points to 1,653.5, December added four points to 1,648 and March 2013 advanced six points to 1,645.

Turnover fell to 3,125 lots from Wednesday’s 4,265 lots while open interest dwindled to 39,959 contracts from 40,811 contracts. – Bernama