KUALA LUMPUR: Share prices on Bursa Malaysia ended higher Tuesday, June 15, as optimism over the global economic recovery led some investors to
cover short positions, dealers said.
The FTSE Bursa Malaysia Composite Index (FBM KLCI) finished 1.21 points or 0.09% higher at 1,298.37. It had opened at 1,297.26.
The benchmark index had been confined to a very tight range of between 1,296.74 and 1,299.15 throughout the trading day.
Dealers said the buying of selective heavyweights sustained the market momentum in line with regional markets, despite a downgrade to Greece's debt rating and little overnight change on Wall Street.
A cut in the Greek government bond credit rating by Moody's Investors Service, from A3 to Ba1, influenced Wallstreet's overnight position.
The Dow Jones declined 0.2 per cent to 10,190.89, the Nasdaq was up 0.02% to 2,243.96 while the S&P 500 fell 0.18% to 1,089.63.
A dealer expects the near-term technical outlook of the FBM KLCI to be still firmly bearish.
"We saw some sector rotation and profit taking but a short covering rally in the final hours of the market session, added to the day's gains," the dealer said.
He also stated that investors were not panicking as yet on Greece's latest debt issue as they are unsure of the impact.
The Finance Index increased 8.51 points to 11,663, the INDUSTRIAL INDEX [] rose 0.44 of a point to 2,597.95 while the PLANTATION [] Index fell 1.64 points to 6,135.88.
The FBM Emas Index rose 7.72 points to 8,745.51 the FBM70 [] Index declined 0.25 of a point to 8,665.39 and the FBM Ace Index went down 16.56 points to 3,797.88.
Market breadth was positive with gainers overcoming decliners 296 to 291, while 270 counters were unchanged, 512 untraded and 29 others suspended.
Total volume rose to 511.873 million shares valued at RM891.308 million from 502.174 million shares worth RM665.401 million yesterday.
Of the heavyweights, Maybank rose one sen to RM7.46, CIMB Group declined one sen to RM6.89, Sime Darby was flat at RM7.81, Maxis increased five sen to RM5.31 while MISC was flat at RM8.48 and Tenaga declined three sen to RM8.31.
Of the active stocks, Talam and Affin-WV were down half a sen each to 12.5 sen and one sen respectively, Kenmark Industrial decreased two sen to 11 sen, Kumpulan Europlus decreased 12 sen to 65 sen and ADVANCE INFORMATION MARKETING [] fell two sen to 14 sen.
Among major gainers, United Malacca rose 55 sen to RM8.47, Yee Lee Corp added 29 sen to RM3.05, Keck Seng increased 28 sen to RM5.29, SEG International was up 24 sen to RM3.47 and Bintulu Port rose 16 sen to RM6.40.
Meanwhile, turnover on the Main Market rose to 452.886 million shares worth RM879.416 million from 391.037 million shares valued at RM642.134 million yesterday.
The ACE market volume decreased to 33.565 million units valued at RM4.590 million from 91.63 million units worth RM15.039 million previously.
Warrants' turnover rose to 18.838 million shares worth RM2.104 million from 11.959 million units valued at RM1.688 million previously.
Consumer products accounted for 69.699 million shares traded on the Main Market, industrial products 58.726 million, CONSTRUCTION [] 33.634 million, trade and services 119.258 million, TECHNOLOGY [] 20.273 million, infrastructure 3.797 million, finance 56.381 million, hotels 290,700, PROPERTIES [] 72.98 million, plantations 17.265 million, mining 2,000, REITs 541,300 and closed/fund 37,400. -- Bernama
cover short positions, dealers said.
The FTSE Bursa Malaysia Composite Index (FBM KLCI) finished 1.21 points or 0.09% higher at 1,298.37. It had opened at 1,297.26.
The benchmark index had been confined to a very tight range of between 1,296.74 and 1,299.15 throughout the trading day.
Dealers said the buying of selective heavyweights sustained the market momentum in line with regional markets, despite a downgrade to Greece's debt rating and little overnight change on Wall Street.
A cut in the Greek government bond credit rating by Moody's Investors Service, from A3 to Ba1, influenced Wallstreet's overnight position.
The Dow Jones declined 0.2 per cent to 10,190.89, the Nasdaq was up 0.02% to 2,243.96 while the S&P 500 fell 0.18% to 1,089.63.
A dealer expects the near-term technical outlook of the FBM KLCI to be still firmly bearish.
"We saw some sector rotation and profit taking but a short covering rally in the final hours of the market session, added to the day's gains," the dealer said.
He also stated that investors were not panicking as yet on Greece's latest debt issue as they are unsure of the impact.
The Finance Index increased 8.51 points to 11,663, the INDUSTRIAL INDEX [] rose 0.44 of a point to 2,597.95 while the PLANTATION [] Index fell 1.64 points to 6,135.88.
The FBM Emas Index rose 7.72 points to 8,745.51 the FBM70 [] Index declined 0.25 of a point to 8,665.39 and the FBM Ace Index went down 16.56 points to 3,797.88.
Market breadth was positive with gainers overcoming decliners 296 to 291, while 270 counters were unchanged, 512 untraded and 29 others suspended.
Total volume rose to 511.873 million shares valued at RM891.308 million from 502.174 million shares worth RM665.401 million yesterday.
Of the heavyweights, Maybank rose one sen to RM7.46, CIMB Group declined one sen to RM6.89, Sime Darby was flat at RM7.81, Maxis increased five sen to RM5.31 while MISC was flat at RM8.48 and Tenaga declined three sen to RM8.31.
Of the active stocks, Talam and Affin-WV were down half a sen each to 12.5 sen and one sen respectively, Kenmark Industrial decreased two sen to 11 sen, Kumpulan Europlus decreased 12 sen to 65 sen and ADVANCE INFORMATION MARKETING [] fell two sen to 14 sen.
Among major gainers, United Malacca rose 55 sen to RM8.47, Yee Lee Corp added 29 sen to RM3.05, Keck Seng increased 28 sen to RM5.29, SEG International was up 24 sen to RM3.47 and Bintulu Port rose 16 sen to RM6.40.
Meanwhile, turnover on the Main Market rose to 452.886 million shares worth RM879.416 million from 391.037 million shares valued at RM642.134 million yesterday.
The ACE market volume decreased to 33.565 million units valued at RM4.590 million from 91.63 million units worth RM15.039 million previously.
Warrants' turnover rose to 18.838 million shares worth RM2.104 million from 11.959 million units valued at RM1.688 million previously.
Consumer products accounted for 69.699 million shares traded on the Main Market, industrial products 58.726 million, CONSTRUCTION [] 33.634 million, trade and services 119.258 million, TECHNOLOGY [] 20.273 million, infrastructure 3.797 million, finance 56.381 million, hotels 290,700, PROPERTIES [] 72.98 million, plantations 17.265 million, mining 2,000, REITs 541,300 and closed/fund 37,400. -- Bernama
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