BURSA MALAYSIA: Bursa Shares Close Firmer

Sources: Bernama Online (17th July 2009)

KUALA LUMPUR, July 17 (Bernama) -- Share prices on Bursa Malaysia closed firmer today as strong buying in key bluechips parried off mild selling pressure.

At the end of trade, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) was 12.02 points or 1.08 percent higher at 1,120.90 after hitting an intra-day low of 1,103.85.

It had opened higher at 1,112.51 following the encouraging overnight close in Wall Street and positive economic numbers abroad, dealers said.

They said the benchmark index slipped into the red briefly in the morning due to profit taking activities, and recovered and stayed in the positive territory until the closing bell, lifted by Maybank, Bumiputra-Commerce, Tenaga Nasional and Gamuda.

The Finance Index climbed 124.17 points to 9,136.79, the Plantation Index advanced 24.52 points to 5,404.40 and the Industrial Index was 2.69 points higher at 2,426.00.

The FBMEmas Index gained 67.09 points to 7,550.78, the FBM Top 100 went up 72.94 points to 7,353.23 and the FBMMesdaq Index increased 47.56 points to 4,077.68.

However, the FBM2BRD Index went down 12.77 points to 4,842.37.

Advancers led decliners by 295 to 277 while 276 counters were unchanged, 385 untraded and 35 others suspended.

Total volume decreased to 939.341 million shares worth RM1.453 billion from 1.666 billion shares valued at RM2.139 billion Thursday.

"The local bourse is still heading up despite the bombing news in Indonesia," a dealer said.

There was strong buying support from local funds in the bluechips which helped lift the key index, he added.

Another dealer said that it was possible for the FBM KLCI that had successfully crossed above the 1,100-point level, to continue its upward trend next week.

However, he said, the market that had advanced nearly 60 points over the past four trading days, would probably need to consolidate before scaling for greater heights.

Topping the actives, KNM Group edged up 2.5 sen to 82.5 sen while SAAG Consolidated eased three sen to 25 sen and

Jaks Resources shed half a sen to 90 sen.

Axiata Group advanced one sen to RM2.86 and UEM Land was up two sen to RM1.64.

Gamuda and Kumpulan Perangsang registered steady gains earlier after their associate company, Syarikat Pengeluar Air Selangor Sdn Bhd, received a third offer from the Selangor government under the proposed takeover of the state's water-related assets.

At the close, Gamuda was nine sen higher at RM3.06 but Kumpulan Perangsang edged down one sen to RM2.06 on profit taking.

Among heavyweights, Maybank rose 15 sen to RM6.10, Bumiputra-Commerce added 25 sen to RM9.95 and Tenaga Nasional gained 20 sen to RM8.20.

The Main Board volume fell to 838.871 million shares worth RM1.425 billion compared with Thursday's closing of 1.398 billion shares worth RM2.076 billion.

Turnover on the Second Board also declined to 27.660 million shares worth RM13.039 million from 95.502 million shares worth RM35.648 million yesterday.

The Mesdaq volume dropped to 40.427 million shares worth RM7.021 million from 96.420 million shares worth RM13.654 million.

Warrants went down to 35.221 million shares worth RM7.334 million from 72.538 million shares worth RM11.887 million.

On sectoral basis, consumer products accounted for 22.041 million shares traded on the Main Board, industrial products 187.053 million, construction 90.516 million, trade/services 335.519 million, technology 7.202 million, infrastructure 14.391 million, finance 51.286 million, hotels 1.968 million, properties 107.736 million, plantations 13.356 million, mining 249,500, REITs 2.528 million and closed/fund 27,000.