Malaysia Market Watch 30th August 2012

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SHARE prices on Bursa Malaysia ended on an easier note yesterday, as investors remained on the sidelines, awaiting fresh leads from Europe on the eurozone debt crisis, dealers said.

The FTSE Bursa Malaysia KLCI (FBMKLCI) fell 1.52 points to close at 1,645.58, despite opening 1.1 points better at 1,648.21.

A dealer said investors were awaiting the outcome of a meeting of central bankers and economists at Jackson Hole, Wyoming in the US starting tomorrow.

For the local bourse, he said, losses were mostly seen in plantation and palm oil counters including Kuala Lumpur Kepong and Genting Plantations.

“Investors are also waiting to see if there will be more moves to stimulate the sluggish US economy,” another dealer said.

Losers led gainers 363 to 352, 368 counters were unchanged, 549 untraded and 35 others suspended.

Total turnover increased to 1.26 billion shares worth RM1.296 billion from 1.21 billion shares worth RM1.11 billion registered yesterday.

Meanwhile, the newly listed Pasukhas was issued an unusual market activity query by Bursa Malaysia due to sharp increase in the company’s share price yesterday.

As at 5pm, Pasukhas shares chalked up a 404.17 per cent rise or 48.5 sen to 60.5 sen, with 67.06 million shares transacted, after debuting at 27 sen with a premium of 15 sen from its offer price of 12 sen.

Meanwhile, FBM KLCI futures on Bursa Malaysia Derivatives closed mostly lower in tandem with the weaker cash market. August 2012 shed one point to 1,646.5 and September 2012 declined 1.5 points to 1,646.

Turnover rose to 26,477 lots from on Tuesday’s 25,975 lots while open interest shed to 66,019 contracts from 70,762 contracts. -Bernama