KL bourse lower on weak sentiment

 

The benchmark FTSE Bursa Malaysia KLCI fell by 4.16 points, or 0.27 per cent, to close at 1,563.19 after opening 1.31 points lower at 1,566.04.
The 30 large-capitalised stock index moved between 1,562.20 and 1,567.19.
RHB Capital led the decline among financial stocks. It fell 57 sen, or 5.94 per cent, to RM9.03 on news CIMB Group Holdings Bhd and Malayan Banking Bhd may abort their plans to acquire the bank. CIMB declined 4 sen to RM8.51 and Maybank fell 2 sen to RM8.82.
A dealer said sentiment on the broader market was weak, tracking the weaknesses in Asian stocks following overnight losses on Wall Street.

The Finance Index fell 128.61 points to 14,579.69, Plantation Index declined 31.14 points to 7,857.11 and the Industrial Index was 9.66 points lower at 2,797.22.
The FTSE Bursa Malaysia Emas Index slipped 24.34 points to 10,723.90 and the FTSE Bursa Malaysia Mid 70 Index dropped 21.63 points to 11,642.71.
The FTSE Bursa Malaysia ACE Index, however, gained 1.27 points to 4,206.60.
Trading volume increased to 875.69 million shares valued at RM1.43 billion from 847.12 million shares valued at RM1.52 billion on Wednesday.
Market breadth was negative with 393 losers compared with 330 gainers.
Lion Group of companies - Lion Corp and Lion Diversified - were actively traded on news that Baosteel Group Corp, China's second-biggest steelmaker, was in talks to buy a stake in a steel unit of the group for about US$1 billion (RM3.03 billion).
Lion Corp declined 1.5 sen to 28.5 sen while Lion Diversified gained 1 sen to 45 sen.
Among heavyweights, Petronas Chemicals rose 1 sen to RM7.08, Sime Darby was 2 sen lower at RM9.17 while Axiata was unchanged at RM5.00.
Meanwhile, the FBM KLCI futures contracts on Bursa Malaysia Derivatives closed lower in line with the easier cash market.
June 2011 declined half-a-point to settle at 1,563, July 2011 dipped two points to 1,562.5, while both September 2011 and December 2011 slipped 1.5 points each to 1,560 and 1,557, respectively.
Volume was lower at 4,303 lots as compared to Wednesday's 5,627 lots while open interest rose to 25,505 contracts from 25,164 contracts previously. - Bernama
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