Malaysia shares finish on easier note

SHARE prices on Bursa Malaysia ended on easier note yesterday following losses in selected plantation and banking counters, dealers said.

The benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) closed 3.26 points, or 0.208 per cent, lower at 1,560.52, after opening 0.04 point higher at 1,563.82.

The key index moved within 1,558.94 and 1,565.25 points throughout the day.

Jupiter Securities head of research, Pong Teng Siew, said selected plantation and banking counters were down but gains in some blue-chips like Maybank Petronas Chemicals, Telekom, RHB Capital helped lift the key index to finish slightly above the 1,560-point level.

"The local bourse also saw losses in second-liners on profit-taking," he said.

Pong said the investor sentiment now was affected by the pressure on oil prices due to tensions in Iran and this has dampened the manufacturing, transportation and consumers sectors.

The increase in oil prices may result in brittle economic growth for the regional economies, he said.

Losers led gainers by 541 to 302 while 298 counters were unchanged, 349 untraded and 19 were suspended.

Meanwhile, FTSE Bursa Malaysia Kuala Lumpur Composite Index futures on Bursa Malaysia Derivatives closed lower on a lack of buying interest, dealers said.

February 2012 depreciated by 11.5 points to 1,557.0, March 2012 and June 2012 dropped 11.0 points each to 1,557.0 and 1,554.5 respectively, and September 2012 declined by 5.5 points to 1,550.5

Turnover increased to 5,524 lots from 4,962 lots on Tuesday whereas open interest fell to 26,846 contracts from 27,283 contracts previously. Bernama