BURSA MALAYSIA: KL Shares Up, Hit New High At Close

Source: Bernama.Com

KUALA LUMPUR, July 28 (Bernama) -- Share prices on Bursa Malaysia ended higher with the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI), hitting a new high Tuesday with interest centred on key heavyweights, especially finance and plantation stocks, dealers said.

At 5.00pm, the FBM KLCI rose 15.95 points to a year high of 1,172.38, after opening 1.4 points higher at 1,157.83. It saw an intra-day high of 1,174.01.

Jupiter Securities head of research, Pong Teng Siew, attributed the gains mainly to the new flush of liquidity in the market.

"The participation in our market came mainly from local investors and some foreign participants," he said, adding that the local stocks still had more room to grow.

Pong expects the resistance level to be between 1,200 and 1,220 in the near term.

"We still have between 30-50 points to go," he said.

The Finance Index soared 105.14 points to 9,512.77, the Plantation Index surged 141.78 points to 5,687.94 and the Industrial Index was 19.63 points higher at 2,565.82.

The FBMEmas Index advanced 103.69 points to 7,905.20, the FBM Top 100 increased 100.83 points to 7,689.37, the FBMMesdaq Index jumped 29.66 points to 4,150.32 and the FBM2BRD Index advance 32.09 points to 5,236.25.

Advancers beat decliners by 492 to 192 while 249 counters were unchanged, 299 untraded and 32 others suspended.

Total volume went up to 1.123 billion shares worth RM1.633 billion from yesterday's 987.228 million shares valued at RM1.215 billion.

Topping the actives, KNM eased one sen to 89.5 sen, Lion Corporation increased 2.5 sen to 52 sen, SAAG Consolidated eased half a sen to 29.5 sen and Genting jumped 12 sen to RM3.

Among heavyweights, Sime Darby increased 25 sen, Maybank and Bumiputra-Commerce jumped 10 sen each to RM6.55 and RM10.20 respectively while Tenaga advanced five sen to RM8.10.

The Main Board volume declined to 933.135 million shares valued at RM1.571 billion from yesterday's 987.228 million shares worth RM1.215 billion.

Turnover on the Second Board eased to 94.278 million shares valued at RM41.503 million from 220.272 million shares worth RM80.632 million yesterday.

The Mesdaq volume decreased to 28.707 million shares valued at RM5.171 million from 33.515 million shares worth RM55.464 million.

Warrants increased to 60.233 million units worth RM12.716 million from 30.311 million worth RM66.130 million previously.

On a sectoral basis, consumer products accounted for 54.241 million shares traded on the Main Board, industrial products 226.592 million, construction 65.542 million, trade/services 324.814 million, technology 14.346 million, infrastructure 26.424 million, finance 80.917 million, hotels 7.108 million, properties 98.397 million, plantations 30.204 million, mining 197,000, REITs 4.093 million and closed/fund 256,600.