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KL SHARE PRICES REMAIN MIXED AT MID-DAY
KUALA LUMPUR, Aug 20 (Bernama) -- Share prices on Bursa Malaysia remained mixed at mid-day today with sentiment still weakened by the overnight fall on Wall Street, a dealer said.
However, he said overall, selling was relatively mild with interest still seen on finance and plantation related stocks.
The benchmark Kuala Lumpur Composite Index (KLCI) ended the morning session at 1,069.47, losing 0.05 of a point after opening 0.82 points lower to 1,068.60. Throughout the morning session, the index moved between 1,065.86 and 1,068.30.
Aseambankers in its research note stated that the KLCI was still on a bearish trend.
"With persistent foreign selling, we expect a rotational sell down on selected heavyweights, which will have a negative impact on the broader market," it said.
"Therefore, investors should remain sidelined, as any rebound would be short-lived," it added.
With the overnight Dow Jones Industrial Average (DJIA) plunging another 130.84 points last night, the research house believed that the local market is expected to drift down by another 10 to 20 points later today.
The overnight DJIA was down 130.84 points or 1.44 percent to 11,348.55 resulting from a report of worse-than-expected wholesale inflation in the United States and home construction data. The weaker performance on Wall Street overnight has triggered fears among players of fresh financial worries in the United States economy.
On the local front, the Industrial Index declined 0.39 of a point to 2,209.48, the Finance Index however gained 21.42 points to 8,438.83 and the Plantation Index advanced 35.31 points to 5,555.62. Of the FTSE-BM Index series, the FBMEmas dropped 1.45 points to 7,135.54, the FBM30 went up 1.95 points to 6,859.15, while the FBM2BRD was 20.86 points lower at 5,181.13 and the FBM-MDQ slipped 11.27 points to 4,234.98.
Losers led gainers by 224 to 147 with 212 counters unchanged, 767 still untraded and 30 suspended. Turnover stood at 157.709 million shares worth RM290.355 million, down from the 193.962 million shares worth RM309.870 million at mid-day yesterday.
Among actives, newly-listed Perwaja Holdings shed 41 sen to RM2.49, MRCB gained 2.5 sen to 79.5 sen and Resorts World eased two sen to RM2.53.
Among the top losers, SeeHuP down 17 sen to 98 sen, MBFHLDG-WA eased 16 sen to 11 sen and Yinson slid 15.5 sen to 43 sen.
Of the heavyweights, both Sime Darby and Tenaga lost five sen each to RM6.30 and RM8.30 respectively while Maybank gained five sen to RM7.35. --BERNAMA
AFH AS
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