Thursday, July 22, 2010

Heavy selling drags share prices lower

KUALA LUMPUR: Heavy selling of heavyweight finance and PLANTATION [] counters saw share prices closing lower on Bursa Malaysia on Thursday, July 22.

Investors turned jittery as they were cautious over Federal Reserve chairman Ben Bernanke's congressional testimony on Wednesday that the US economy faced "unusually uncertain" prospects.

His comments came at a time when investors were already pre-occupied with the stalled US economic recovery coupled with the release of the "stress test" results for 91 European banks on Friday," a dealer said.

At 5pm, the benchmark KUALA LUMPUR COMPOSITE INDEX [] (KLCI) ended the day 4.97 points easier at 1,336.05, after trading between a narrow range of between 1,332.92 and 1,339.98 points.

The losses were registered across the board except for mild gains in several consumer and PROPERTIES [] counters.

The FBM Emas Index lost 29.36 points to 9,066.55, the FBM Ace Index dipped 6.77 points to 3,796.74 and the FBM70 [] decreased 18.98 points to 9,126.46.

The Finance Index declined 34.49 points to 12,126.62, the INDUSTRIAL INDEX [] was 17.91 points lower at 2,657.56 and the Plantation Index erased 9.24 points to 6,336.61. Losers outnumbered gainers 388 to 318 while 251 counters were unchanged, 410 untraded and 27 others were suspended.

Turnover was lower at 872.860 million shares, worth RM1.145 billion, from 874.875 million shares, worth RM1.268 billion, registered on Wednesday. ' Bernama

No comments:

Post a Comment