KUALA LUMPUR (Oct 25, 2011): Share prices ended the morning session slightly lower today with the FBM KLCI falling 0.87 of a point to 1,449.15, dealers said.
They also said the market remained cautious over the ability of European policymakers in dealing with Europe's debt saga.
"A final decision on the issue was deferred until a second summit scheduled for tomorrow and this put a cap on markets," a dealer said.
The benchmark index moved between a low of 1,448.12 and a high of 1,455.65. this morning after opening 3.44 points higher at 1,453.46.
Nonetheless, gains in plantation stocks like Sime Darby, Kuala Lumpur Kepong (KLK) and Batu Kawan, helped pare market losses, as industry players expect the crude palm oil price to rise above RM3,000 per tonne in the next three months due to a drop in production amid increasing overseas demand.
Sime Darby rose five sen to RM8.69, KLK added two sen to RM20.60 while Batu Kawan earned six sen to RM15.56.
The Finance Index rose 20.96 points to 13,121.45, the Industrial Index fell 2.66 points to 2,661.06 and the Plantation Index declined 8.01 points to 7,346.69.
The FBM Emas shed 7.92 points to 9,876.77, the FBMT100 decreased 2.67 points to 9,697.62 and the FBM Ace Index fell 43.19 points to 3,973.71 but the FBM 70 Index increased 9.87 points to 10,618.30.
Decliners led advancers by 383 to 193 while 230 counters were unchanged, 655 untraded and 26 others suspended.
Trading was moderate with a total volume of 424.87 million shares worth RM388.2 million.
Of the active counters, The Media Shoppe lost half sen to 10 sen, MAA and Cybertowers rose half sen each to 47.5 sen and 11 sen respectively, and AirAsia earned four sen to RM3.88.
Among heavyweights, Maybank advanced three sen to RM8.28, CIMB was flat at RM7.19 and Petronas Chemicals declined two sen to RM6.14.
Meanwhile, the price of gold today closed at RM160.29 per gramme, up 43 sen from yesterday. – Bernama
