Wednesday, June 9, 2010

Share prices close firmer

KUALA LUMPUR: Share prices closed firmer on Bursa Malaysia on Wednesday, June 9 as local funds threw their support behind selected heavyweights.

Trading was however cautious awaiting the unveiling of the 10th Malaysia Plan by Prime Minister Datuk Seri Najib Tun Razak on Thursday.

The FBM KLCI ended 1.9 points higher at 1,290.08 after opening 3.63 points better at 1,291.81.

"The market started to stabilise two days ago as investors sentiment perked ahead of the unveiling. They are waiting for the essence of the 10MP which would definitely serve as a boost to the market," said Pong Teng Siew of Jupiter Securities Sdn Bhd.

He said interest centered mostly on oil and gas, rubber-based and consumer stocks.

Dayang Enterprise gained eight sen to RM1.89 while Supermax added 16 sen to RM6.77.

The Finance Index rose 3.58 points to 11,586.23, the INDUSTRIAL INDEX [] added 7.03 points to 2,575.10 but the PLANTATION [] Index erased 5.73 points to 6,077.53.

The FBM Emas Index advanced 23.74 points to 8,679.19, the FBM Ace Index gained 7.81 points to 3,782.70 while the FBM70 [] surged 64.74 points to 8,586.54. Advancers led decliners 345 to 266 while 259 counters were unchanged.Volume rose to 629.811 million shares, worth RM795.253 million, from 460.064 million shares, worth RM748.316 million, recorded on Tuesday.

Among actives, Kenmark lost 12.5 sen to 14.5 sen, SAAG dipped half-a-sen to 8.5 sen, IRCB added one sen to 79 sen while Talam was flat at 14 sen.

As for heavyweights, Maybank went down one sen to RM7.38 while CIMB and Sime Darby both advanced one sen each to RM6.88 and RM7.80, respectively.

Maxis increased three sen to RM5.32 but MISC dropped one sen to RM8.32.

Meanwhile, Astro All Asia Network PLC, in a filing to Bursa Malaysia, said its shares would be removed from the official list of Bursa Securities at 9am on June 14. Its share price closed unchanged at RM4.29.

Volume on the main market increased to 558.085 million shares, worth RM783.482 million, from 460.064 million shares worth RM748.316 million, recorded on Tuesday. - Bernama

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