MARKET DEVELOPMENT
Bursa Malaysia Prices Open Mixed On Mild Profit-Taking
Bursa Malaysia Prices Open Mixed On Mild Profit-Taking
05/06/2013 (Bernama) - Share prices on Bursa Malaysia opened mixed on mild profit-taking in early trading today after gaining more than 10 points at close yesterday, dealers said.
At 9.01 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.71 of a point lower at 1,776.03 after opening 0.55 of a point weaker 1,776.19.
Market breadth was positive, with 100 gainers, 46 losers, 102 counters unchanged, 1,336 untraded and 14 suspended
Turnover stood at 73.89 million shares worth RM42.08 million.
Alliance Research said it has upgraded plantation sector to "neutral" from "underweight", expecting it to be the main focus for today, with IJM Plantations as the top pick.
"This will be underpinned by the healthy demand, given the attractive palm oil prices and tight supply in other oil seeds.
"The upcoming festive season is likely to mark the start to improved crude palm oil prices. We also expect inventory levels to normalise going forward as export stays ahead of production," it said in a research note.
On the scoreboard, the Finance Index lost 23.41 points to 16,865.96, the Industrial Index shed 5.84 points to 3,025, while the Plantation Index eased one point to 8,318.87.
The FBM Emas Index slipped 2.17 points to 12,411.04, the FBMT100 erased 1.26 points to 12,169.26, the FBM Mid 70 Index gained 13.11 points to 14,500.06 and the FBM Ace Index added 9.21 points to 4,744.55.
Among actives, Malaysia Airlines (MAS) lost three sen to 31.5 sen, OpenSYS rose one sen to 13.5 sen, The Media Shoppe earned half a sen to 6.5 sen while Nextnation Communication was flat at one sen.
Leon Fuat Bhd made a debut on the main market today at 63.5 sen, a 3.5 sen premium from its 60 sen offer price.
The counters saw 5.19 million changing hands at the opening bell.
Heavyweights, Maybank shed two sen to RM10.24, CIMB and Sime Darby were flat at RM8.30 and RM9.45, respectively, while Axiata garnered five sen to RM6.78.
At 9.01 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.71 of a point lower at 1,776.03 after opening 0.55 of a point weaker 1,776.19.
Market breadth was positive, with 100 gainers, 46 losers, 102 counters unchanged, 1,336 untraded and 14 suspended
Turnover stood at 73.89 million shares worth RM42.08 million.
Alliance Research said it has upgraded plantation sector to "neutral" from "underweight", expecting it to be the main focus for today, with IJM Plantations as the top pick.
"This will be underpinned by the healthy demand, given the attractive palm oil prices and tight supply in other oil seeds.
"The upcoming festive season is likely to mark the start to improved crude palm oil prices. We also expect inventory levels to normalise going forward as export stays ahead of production," it said in a research note.
On the scoreboard, the Finance Index lost 23.41 points to 16,865.96, the Industrial Index shed 5.84 points to 3,025, while the Plantation Index eased one point to 8,318.87.
The FBM Emas Index slipped 2.17 points to 12,411.04, the FBMT100 erased 1.26 points to 12,169.26, the FBM Mid 70 Index gained 13.11 points to 14,500.06 and the FBM Ace Index added 9.21 points to 4,744.55.
Among actives, Malaysia Airlines (MAS) lost three sen to 31.5 sen, OpenSYS rose one sen to 13.5 sen, The Media Shoppe earned half a sen to 6.5 sen while Nextnation Communication was flat at one sen.
Leon Fuat Bhd made a debut on the main market today at 63.5 sen, a 3.5 sen premium from its 60 sen offer price.
The counters saw 5.19 million changing hands at the opening bell.
Heavyweights, Maybank shed two sen to RM10.24, CIMB and Sime Darby were flat at RM8.30 and RM9.45, respectively, while Axiata garnered five sen to RM6.78.