NST Online Business Times : latest
NST Online Business Times : latest |
| KL shares open lower in early trade Posted: 30 Dec 2012 05:39 PM PST Share prices on Bursa Malaysia dipped, in early trade this morning, after failing to sustain its upward momentum from
After 10 minutes of trading, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 5.67 points lower at 1,675.66, dragged by losses mostly seen in Axiata, which gave up nine sen to RM6.65 and contributed 1.431 per cent to the decline in the benchmark index. HWANGDBS Vickers Research Sdn Bhd said major US equity barometers fell between 0.9 per cent and 1.2 per cent on Friday. In a research note, it said investors were a little restless awaiting the outcome of budget negotiations to avert the so-called "fiscal cliff", which would result in automatic tax increases and government spending cuts, from taking effect in the beginning of 2013. "In spite of the shaky Wall Street performance, the Malaysian bourse could ride on its ongoing momentum to extend its gains. "Continuing from where it left off last Friday – following a weekly rise of 22.5-points or 1.4 per cent – the benchmark FBM KLCI may challenge its immediate resistance barrier of 1,685 points ahead," it added. Meanwhile, the Finance Index dropped 56.22 points to 15,264.96, the Industrial Index eased 2.44 points to 2,763.12 but the Plantation Index rose 13.42 points to 8,114.18. The FBM Emas Index declined 32.33 points to 11,358.12, the FBMT100 was 30.62 points lower at 11,219.97 while the FBM Mid 70 Index added 0.27 of a point to 12,274.05 and the FBM Ace Index increased 7.24 points to 4,213.5. Gainers led losers 75 to 72, with 120 counters unchanged, 1,373 untraded and 21 others were suspended. Volume was thin at 38.528 million shares worth RM17.058 million. Among actives, Integrated Rubber edged up half-a-sen to 7.5 sen while Integrated Rubber-WA was unchanged at two sen but PJBumi eased three sen to 32 sen. Both Maybank and Sime Darby eased one sen each to RM9.07 and RM9.48, respectively, and CIMB was seven sen lower at RM7.60. -- Bernama
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