Thursday, June 10, 2010

Shares mixed, blue chips slightly higher

KUALA LUMPUR: Share prices on Bursa Malaysia remained mixed at midday on Thursday, June 10 as investors were reluctant to take fresh positions despite the announcement of the 10th Malaysia Plan (10MP), dealers said.

However, the FTSE Bursa Malaysia KUALA LUMPUR COMPOSITE INDEX [] ended the morning session in the positive territory, up 2.58 points to 1,292.66, supported by mild gains in select heavyweights like Maybank and CIMB Group.

"The market did not react much to the announcement. Investors were still looking for good bargain-hunting opportunities, an analyst said, adding that they were awaiting for prices to ease back before entering the market.

He also said investors' interest may center on CONSTRUCTION []-related stocks, healthcare and consumer stocks that were likely to benefit largely from the RM230 billion development spending announced under the 10MP.

The Finance Index rose 30.9 points to 11,617.13, the INDUSTRIAL INDEX [] went up 3.43 points to 2,578.53 and the PLANTATION [] Index was 8.46 points higher at 6,085.99.

The FBM Emas Index was 11.63 points better at 8,690.82, the FBM70 [] Index decreased 12.01 points to 8,574.53 while the FBM Ace Index dropped 2.26 points to 3,780.44.

Losers thumped gainers 222 to 203 while 222 counters were unchanged. Volume stood at 386.928 million shares worth RM309.460 million.

Among active stocks, Kenmark gained five sen to 19.5, Talam was one sen higher at 15 sen while Affin-WC lost half-a-sen to 1.5 sen.

Heavyweights, Maybank added three sen to RM7.41, CIMB Group rose two sen to RM6.90 while Maxis dropped one sen to RM5.31. - Bernama

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