Wednesday, March 3, 2010


SHARE prices on Bursa Malaysia were lower at midafternoon today with the key indices in negative territory after earlier gains, dealers said.

As at 3.05pm, the benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) slipped 1.84 points to 1,286.23 after opening 2.44 points higher at 1,290.51.

TA Securities senior technical analyst, Stephen Soo, said buying momentum was weak.

"Profit-taking among lower-liners and select blue-chips capped the market's upside momentum," he said.
Soo said investors were looking for fresh leads such as the New Economic Model which would be unveiled soon and was expected to provide a strong catalyst for the market.

He expected the support level for the FBM KLCI at 1,276 and resistance at 1,292 in the near term. The Finance Index lost 13.021 points to 11,328.56, Industrial Index decreased 3.84 point to 2,593.46 and the Plantation Index eased 10.72 points to 6,378.71.

The FBM Emas Index declined 11.16 points to 8,645.29, FBM70 slipped 3.851 points to 8,471.68 and the FBM Ace Index eased 54.12 points to 4,223.25.

Losers led gainers by 407 to 216 while 269 counters were unchanged, 444 untraded and 25 others suspended. Turnover stood at 523 million shares worth RM825.8 million.

Among heavyweights, Sime Darby eased five sen to RM8.58, Maybank slipped a sen to RM6.99 and CIMB Group Holdings declined 12 sen to RM13.60 and Maxis lost four sen to RM5.41.

Of the active stocks, Axiata rose three sen to RM3.86, JAKS Resources increased two sen to 81 sen, Genting gained one sen to RM6.29 and KNM decreased half sen to 79 sen. - Bernama

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