The Malaysian Insider

KUALA LUMPUR, Dec 4 - Share prices on Bursa Malaysia ended lower today on fears of a deeper global economic recession, dealers said.

They said, however, some mild bargain hunting among key heavyweights helped narrow overall losses.

An analyst said weaknesses in Asian markets had also affected investor sentiment.

He said investors would also be watching developments in the US car sector which was bracing for a slowdown.

The benchmark Kuala Lumpur Composite Index declined 0.67 point to 846.86.

The Industrial Index slipped 3.01 points to 2,012.9, the Finance Index rose 36.17 points to 6,538.24 and the Plantation Index declined 37.41 points to 3,825.66.

The FBMEmas declined 7.7 points to 5,538.84 and the FBM30 decreased 4.55  points to 5,459.73.

The FBMMesdaq decreased 55.88 points to 3,216.07 and the FBM2BRD was 3.49 points lower at 3,961.87.

Losers beat gainers by 267 to 198, 202 counters were unchanged, 578 counters untraded and 30 counters suspended.

Turnover fell to 293.441 million shares worth RM486.741 million from 407.355 million shares worth RM558.855 million yesterday.

Among active stocks, Resorts was flat at RM2.28, Ramunia was unchanged at 37 sen, KNM Group slipped half sen to 49 sen and Genting fell 12 sen to RM3.78.

In heavyweights, Maybank gained 10 sen to RM5.20, Tenaga increased 10 sen to RM6, Telekom rose eight sen to RM3.10 and Malaysia Airlines declined two sen to RM2.52.

Volume on the main board decreased to 227.194 million shares worth RM472.840 million from 313.798 million shares worth RM534.423 million yesterday.

Turnover on the second board fell to 33.854 million units worth RM10.480 million from 61.761 million units worth RM20.709 million yesterday. Volume on the Mesdaq market declined to 13.411 million shares worth RM2.655 million from 13.421 million shares worth RM2.323 million previously.

Warrants, however, increased to 17.93 million units worth RM652,137 from 17.333 million units worth RM1.165 million yesterday. Direct business deals rose to 59.29 million shares worth RM130.177 million from 33.967 million shares worth RM52.511 million on yesterday.

On a sectoral basis, consumer products accounted for 8.155 million shares traded on the Main Board, industrial products 38.019 million, construction 17.477 million, trade/services 97.206 million, technology 592,800,  infrastructure 9.791 million, finance 17.524 million, hotels 2.007 million, properties 27.039 million, plantations 8.58 million, mining 4,000, REITs 789,900, closed/fund 5,100. - Bernama