Business

Share prices remain in red mid-day

KUALA LUMPUR, Feb 19 – Share prices on Bursa Malaysia remained in the red at the end of morning session today as most investors reduced their holdings on the back of a bearish market, dealers said.

As at 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined 4.21 points or 0.26 percent to 1,616.72 after opening at 1,622.17.

The benchmark index, which closed at 1,620.93 yesterday, moved between 1,616.11 and 1,623.72 throughout the entire morning session.

Regional bourses were mostly lower with Japan’s Nikkei 225 giving up 37.02 points to 11,370.85, Hong Kong’s Hang Seng lost 62 points to 23,319.94 while the Singapore’s Straits Times improved 7.42 points to 3,295.56.

On the local front, the Finance Index declined 34.471 points to 14.794.56, the Plantation Index decreased 42.13 points to 7,878.53 but the Industrial Index added 1.62 points to 2,786.39.

The FBM Emas Index dropped 33.851 points to 10,984.8, the FBMT100 was 32.19 points lower at 10,837.5, the FBM Mid 70 Index lost 53.72 points to 11,910.91 and the FBM Ace Index slipped 21.79 points to 4,017.37.

Losers led gainers 327 to 141 with 258 counters unchanged, 940 untraded and 17 others were suspended.

Trading was thin with 454.995 million shares worth RM437.931 million exchanging hands.

Top losers, Panasonic Manufacturing lost 82 sen to RM20.18, Dutch Lady was 48 sen lower at RM42.18 and Kuala Lumpur Kepong dropped 38 sen to RM20.90.

Among actives, Compugates eased half-a-sen to nine sen, China Automobile shed one sen to 42 sen while The Media Shoppe edged up half-a-sen to nine sen.

Heavyweights, Maybank declined two sen to RM8.85, Axiata shed one sen to RM6.26 while CIMB and Sime Darby were both unchanged at RM7 and RM9.22, respectively.

Meanwhile, The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives was lower mid-day following the easier underlying market, dealers said.

At 12.30 pm, February 2013 declined six points to 1,609.5, March 2013 shed five points to 1,606, June 2013 slipped seven points to 1,595 and September 2013 lost nine points to 1,587.

Turnover stood at 1,885 lots with open interest amounting to 29,334 contracts. The underlying FBM KLCI was 4.21 points lower at 1,616.72 as at mid-day. – Bernama

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