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Malaysia Market Watch 25th September 2012

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SHARE prices on Bursa Malaysia closed lower yesterday, in line with weaknesses on regional markets, plagued by fears of slowing global economic growth and amid the ongoing eurozone debt crisis, dealers said.

The FTSE Bursa Malaysia KLCI (FBM KLCI) lost 11.32 points to 1,612.38 after opening 9.35 points lower at 1,614.35.

Affin Investment Bank vice-president (retail research head) Dr Nazri Khan said market players were adopting a cautious “wait-and-see” attitude ahead of the tabling of next year’s budget on Friday.

The Finance Index plunged 128.62 points to 14,474, the Plantation Index dipped 76.59 points to 8,202.69, and the Industrial Index slid 13.82 points to 2,789.02.

The FBM Emas Index fell 79.83 points to 10,968.84, the FBM Mid 70 Index declined 97 points to 11,885.13, and the FBM ACE shed 54.55 points to 4,273.93.

Losers led gainers by 571 to 183 while 302 counters were unchanged, 583 untraded and 27 suspended. Turnover fell to 827.15 million shares worth RM1.35 billion from the 1.075 billion shares worth RM1.91 billion last Friday.

Scomi Group, among the actives yesterday, had requested for a suspension of trading from 2.30pm to 5.00pm. Scomi was last traded yesterday at 35 sen, up 1.5 sen from last Friday’s close.

Among heavyweights, Maybank slipped 14 sen to RM9.01, Sime Darby slid four sen to RM9.75, CIMB lost nine sen to RM7.44 and Petronas Chemicals fell 11 sen to RM6.43.

On Bursa Malaysia Derivatives, the FBM KLCI futures contracts closed lower in tandem with easier trade on the cash market.

September 2012 fell 7.50 points to 1,610, October 2012 eased seven points to 1,612.50, December 2012 slipped 6.50 points to 1,611 and March 2013 slipped 6.50 points to 1,607.50. Bernama (BTimes)