Tuesday, March 2, 2010


SHARE prices on Bursa Malaysia closed mostly higher today with gains in key heavyweights sustaining the market in positive territory.

The benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) ended 4.67 points higher at 1,288.07, after opening three points better at 1,286.40.

Overnight gains on Wall Street and a rosier outlook for the technology sector in the United States lifted buying sentiment today especially among heavyweights.

Dealers said the overall market was cautious, as investors sentiment remained fragile, amid potential volatility in global stock markets.
Maybank Investment Bank Equity Research said the FBM KLCI may revisit the 1,300 points and 1,308 points levels.

The CI last hit the 1,300 points on January 19, and went on to see 1,308.36 on January 21 this year.

"However, the FBM KLCI may still remain volatile. We believe clients should adopt a short-term trading approach as global markets are still not steady," a report released by the research house said.

The Finance Index surged 80.22 points to 11,341.58, the Industrial Index declined 2.09 points to 2,597.3 and the Plantation Index perked 34.13 points to 6,389.43.

The FBM Emas Index, meanwhile, advanced 23.55 points to 8,656.45, the FBM70 increased 18.601 points to 8,475.53 but the FBM Ace Index declined 51.23 points to 4,277.37.

Losers led gainers 405 to 323 while 252 counters were unchanged, 356 untraded and 25 others suspended.

Turnover stood lower at 839.426 million shares worth RM1.549 billion from 1.05 billion shares worth RM1.7 billion yesterday.

Among heavweights, Sime Darby rose three sen to RM8.63, Maybank added eight sen to RM7.00, CIMB Group Holdings gained 26 sen to RM13.72 and Maxis was unchanged at RM5.45.

As for the actives, Axiata declined six sen to RM3.83, Talam Corporation was flat at 12 sen, Ramunia increased three sen to 23.5 sen and KNM Group added half a sen to 79.5 sen. - Bernama

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