Malaysia Market Watch 29th August 2012

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SHARE prices on Bursa Malaysia ended on an easier note yesterday, in line with regional stock markets as concern over the European debt crisis grew further, dealers said.

The FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.02 points to close at 1,647.11, despite opening 0.11 point better at 1,648.24.

A dealer said investors were concerned about market talk that the crisis could move to Germany. “So far, exports of cars and industrial machinery to stronger economies in Asia and the US have helped Germany grow, while low unemployment has buoyed consumer spending at home.”

Meanwhile, Wall Street remained subdued, awaiting signals from the Federal Reserve about possible help for the economy, another dealer said.

The Finance Index dwindled 67.85 points to 14,777.99, the Plantation Index slipped 1.17 points to 8,640.14 but the Industrial Index earned 2.71 points to 2,884.39.

The FBM Emas Index added 19.03 points to 11,250.61, the FBM 70 Index shed 66.01 points to 12,326.55 and the FBM ACE Index dropped 41.76 points to 4,606.14.

Losers led gainers 460 to 276, 357 counters were unchanged, 538 untraded and 32 others suspended.

Among the heavyweights, Maybank slipped three sen to RM9.15, CIMB fell five sen to RM7.83, Maxis erased two sen to RM7.00 and Sime Darby was flat at RM9.80.

Meanwhile, FBM KLCI futures contract on Bursa Malaysia Derivatives closed lower in tandem with the weaker cash market, dealers said.

August shed two points to 1,647.5, September and March 2013 lost three points each to 1,647.5 and 1,641 respectively, and December fell 2.5 points to 1,644.5. Turnover surged to 25,975 lots from Monday’s 19,060 lots while open interest rose to 70,762 contracts from 58,189 previously. -Bernama