Thursday, August 5, 2010

Share prices mixed at close

KUALA LUMPUR: Share prices on Bursa Malaysia ended Thursday, Aug 5 mixed on persistent buying of selected lower liners and heavyweights, dealers said.

At 5pm, the FTSE Bursa Malaysia KUALA LUMPUR COMPOSITE INDEX [] (FBM KLCI) ended 0.66 points or 0.05% lower at 1,362.08 dragged by Sime Darby and Mudajaya.

The benchmark index opened 1.42 points higher at 1,364.16 and moved within 1,358.52 and 1,364.82 points.

Dealers said the recent sell-off was overdone and buying pressure was overwhelming after the recent gains seen last month.

MIMB Investment Bank Bhd head of research Chan Ken Yew said buying was boosted by an overnight uptrend in Wall Street as US employment data indicated modest improvement.

The Dow Jones Industrial Average rose 44.05 points to 10,680.43, the Standard & Poor's 500 index gained 6.78 points to 1,127.24 and Nasdaq was up 20.05 points to 2,303.57.

One dealer said the market was expected to fair better due to active buying interest with technical indicators remaining bullish over the longer-term.

The Finance Index rose 0.739 points to 12,285.27, the PLANTATION [] Index added 37.31 points to 6,468.67 while the INDUSTRIAL INDEX [] fell 9.83 points to 2,661.26. The FBM Emas Index increased 6.24 points to 9,237.78, the FBM70 [] Index increased 34.841 points to 9,258.94 and the FBM Ace Index went up 22.71 points to 3,845.25.'' ''

Market breadth was positive with gainers leading losers 362 to 349 while 276 counters were unchanged, 382 untraded and 30 others were suspended.'' ''

Volume rose to 993.853 million shares, valued at RM1.575 billion, from 811.414 million shares, worth RM1.188 billion, registered on Wednesday. ' Bernama

No comments:

Post a Comment