Kuala Lumpur shares close mixed ahead of GDP data - UPDATE 23/11/2006
- Share prices closed the day mixed, with the
gains capped by profit-taking in lower-liners and select blue chips, dealers
said.
Investors were reluctant to take significant positions due to caution
about third-quarter gross domestic product (GDP) data, which the government
released shortly after the market close, they said.
The Kuala Lumpur Composite Index (KLCI) was up 2.7 pts or 0.25 pct at 1,
046.51.
The FTSE Bursa Malaysia 30-large cap index gained 18.95 points to 6,700.
64, while the second board index lost 0.18 of a point to 90.36.
Losers outnumbered gainers 471 to 375, with 304 stocks unchanged and 175
untraded.
Trading volume was 1.04 bln shares valued at 1.26 bln rgt.
''The market had a mixed performance today on mild profit-taking.
Investors locked in gains, especially in select blue chips and plantation
counters,'' said Cheah King Yoong, head of research at SJ Securities.
He said selling of plantation stocks had little to do with reports of a
super merger involving three of Malaysia's largest plantation companies --
Golden Hope Plantations, Sime Darby and Kumpulan Guthrie, which had suspended
trade in their shares.
Genting dropped 0.50 rgt or 1.79 pct to 27.50, IOI Corp lost 0.20 rgt or
1.06 pct to 18.70 while PPB Oils shed 0.25 rgt or 2.56 pct to 9.50.
Among the heavyweights, Tenaga and Maybank were flat at 10.80 rgt and 11.
20, respectively, while TM gained 0.05 rgt to 9.05.
Elsewhere, Computer Systems Advisers jumped 0.14 rgt or 6.9 pct to 2.17
after posting a 68 pct rise in its net profit for the second quarter to
September.
Maxis Communications rose 0.55 rgt or 5.85 pct to 9.95 after its
third-quarter net profit came in better than expected on strong net
subscriber growth.
Malaysian Oxygen advanced 0.30 rgt or 2.42 pct to 12.70 after it reported
a 41.8 pct rise in fourth quarter net profit and a higher dividend pay-out.

For tomorrow...market still very strong toward 1100 points...

For CPO Market...correction toward 1800 levels...

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