Tuesday, June 8, 2010

Market ends on firmer note

KUALA LUMPUR: Share prices on Bursa Malaysia ended on a firm note on Tuesday, June 8, with sentiment bolstered by the uptrend in regional markets, dealers said.

Sustained gains on heavyweights pushed the FBM KLCI to end at 1,288.18, up 1.91 points. It opened 0.49 point easier at 1,285.78.

A dealer said there was continuous bargain-hunting in heavyweights like Maybank, Maxis, Tenaga Nasional and Hong Leong Financial Group.

"The buying today improved on continuous buying after recent losses, as traders paused in their sell-off of risky assets ahead of Chinese economic data and the European Central Bank meeting later in the week," he said.

He said the market, which drifted downwards since last week, recouped some of its losses today as investor sentiment perked up ahead of the unveiling of the 10th Malaysia Plan on Thursday.

The Finance Index surged 20.45 points to 11,582.65; The PLANTATION [] Index decreased 11.44 points to 6,083.26 and the INDUSTRIAL INDEX [] went down 8.25 points to 2,568.07.

The FBM Emas Index advanced 7.91 points to 8,655.45 and the FBM Ace Index went up 6.60 points to 3,774.89. The FBM70 [], however, declined 25.26 points to 8,521.80.

Advancers led decliners by 349 to 271 while 221 counters were unchanged, 558 untraded and 59 others suspended.

Volume rose to 512.045 million shares worth RM767.651 million from 491.948 million shares worth RM844.286 million on Monday.

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