SHARE PRICES MOSTLY LOWER AT MIDDAY ON LACK OF FRESH LEADS

KUALA LUMPUR, Nov 23 (Bernama) -- Share prices on Bursa Malaysia were mostly lower at midday close today, amid a weaker sentiment in the absence of fresh leads, said a dealer.

At lunch break, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) fell 1.91 points to 1,272.45 after opening 0.7 of a point lower at 1,273.66.

Kenanga Research in its note today said the market could be trading in a narrow range before the next catalyst helps to dictate the possible new trend.

"For the near term, we continue to expect resistance to be maintained at the 1,275 level with 1,300 still a possibility, given the current level of liquidity which remains at elevated levels," it explained.

It estimated the support level to be between 1,262-1,258 for the near term, and 1,240-1,232 as the next point.

The FBM Emas Index fell 11.58 points to 8,493.28, the FBM Top 100 declined 10.62 points to 8,300.08 and the FBM 70 slipped 3.351 points to 8,233.97. The FBM ACE shed 65.2 points to 4,371.42, while the Industrial Index rose 1.53 points to 2,687.39 and the Plantation Index gained 1.65 points to 6,222.2. But the Finance Index dropped 6.97 points to 10,998.17. Losers led gainers by 356 to 174 while 226 counters were unchanged and 520 others untraded. A total of 411.435 million shares worth RM365.072 million were transacted. For the actives, Scomi Group-Loan Rights, MLabs and Talam each fell 0.5 sen to 1.5 sen, 18.5 sen and 9.5 sen respectively.

TA Global dropped 1.5 sen to 48.5 sen and TA Global-ICPS slipped 10.5 sen to 39.5 sen.

Among the heavyweights, Sime Darby and CIMB along with IOI Corp, were flat at RM8.95, RM13.00 and RM5.55 respectively.

Maybank and Tenaga jumped one sen to RM6.96 and RM8.45 respectively while Maxis fell three sen to RM5.34 and Public Bank dropped two sen to RM10.96.

Axiata meanwhile, shed four sen to RM3.11 and Genting declined six sen to RM7.06. -- BERNAMA

UHS AS