Business

Bursa prices close easier

January 30, 2013

KUALA LUMPUR, Jan 30 – Share prices on Bursa Malaysia closed easier today, weighed by losses in most key heavyweights and bluechips, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended 9.61 points lower at 1,627.73, after opening 1.85 points higher at 1,639.19.

The barometer index moved between 1,613.17 and 1,640.96 at trade today.

Etiqa Insurance & Takaful Bhd’s Head of Research Chris Eng said heavy selling pressure emerged as the local market sentiment was dragged down by speculative market talks.

There were talks that the 13th General Election would be held soon, maybe after Chinese New Year, he said, adding that the uncertain situation were also causing some jitters among investors.

He also noted that Selangor had announced that it would be dissolving the state assembly in March and call for early election.

On the scoreboard, the Finance Index fell 38.51 points to 14,832.36, the Industrial Index declined 21.9 points to 2,751.18, and the Plantation Index dipped 35.21 points to 8,012.92.

The FBM Emas Index went down 71.05 points to 11,069.21, the FBMT100 eased 69.02 points to 10,922.82 and the FBM Mid 70 Index dropped 96.95 points to 12,057.74.

The FBM Ace Index, however, gained 35.09 points to 4,146.31.

Market breadth was negative with losers outnumbering gainers by 529 to 209, while 316 counters were unchanged, 607 untraded and 41 others suspended.

Volume rose to 1.154 billion shares worth RM2.002 billion from 1.139 billion shares valued at RM1.666 billion on Tuesday. – Bernama

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