Tuesday, August 3, 2010

Share prices close lower

KUALA LUMPUR: Share prices on Bursa Malaysia ended lower at close on Tuesday, Aug 3 as investors locked in profits after the recent run from middle of last month, dealers said.

At 5pm, the FBM KLCI rose 0.23 points or 0.01 per cent at 1,363.83, supported by active buying of stocks like Public Bank and Axiata.
The FBM KLCI opened 2.56 points higher at 1,366.16 in the morning from 1,363.6 yesterday and was traded between 1,359.55 and 1,370.52.

Jupiter Securities Sdn Bhd's head of research Pong Teng Siew said the market, which started solidly in the morning, was paring down as institutional investors took profit while retailers took a break.

Pong said that investors focused only on steady performing stocks and avoided blue chips as these somehow looked more expensive.

"The market was dominated by profit-taking activities and this will continue for a short while before the index climbs up," he said.

International funds also started shifting to Thailand from Indonesia and possibly to the local bourse as well, Pong said, adding that positive Wall Street sentiment, however, failed to lend support.

Losers led gainers 479 to 250 while 270 counters were unchanged, 366 untraded and 29 others suspended. Volume rose to 1.106 billion shares worth RM1.463 billion from 963.78 million shares worth RM1.284 billion on Monday.

Among the active stocks, Sinotop lost eight sen to 17.5 sen, Unisem-WR gained 6.5 sen to 39 sen, KNM declined one sen to 52 sen, Pacific & Orient rose five sen to RM1.20 and Talam was flat at 12 sen.

Among the heavyweights, Maybank and Maxis were both flat, at RM7.74 and RM5.30 respectively. CIMB and Sime Darby were down one sen each to RM7.45 and RM7.72 respectively while MISC added three sen to RM8.82. Public Bank added 10 sen to RM12.00 and Axiata was eight sen higher at RM4.32. - Bernama

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