Kuala Lumpur shares close lower -
UPDATE 18/12/2006
- Share prices closed broadly lower as
institutional activity began slowing down in the run-up to the Christmas and
New Year holidays, dealers said.
The Kuala Lumpur Composite Index (KLCI) closed down 7.72 points or 0.71
pct at 1,081.60. Losers outnumbered gainers 692 to 192, with 223 stocks unchanged and 211
counters untraded.
Trading volume was 879.65 mln shares valued at 1.64 bln rgt.
"Institutional funds are basically locking in their earlier gains before
they close their book for the year. At this time of the year, fund managers
are already in the holiday mood and are unlikely to make any strong position
until next year," a local brokerage dealer said.
Among blue chips, IOI Corp dropped 0.50 rgt to 18.10, Maxis
Communications eased 0.20 rgt to 10 and MISC fell 0.15 rgt to 8.60.
Padiberas Nasional fell 0.10 rgt to 1.93 after it said it is unaware of
any planned takeover offer by its major shareholder, Syed Mokhtar al-Bukhary.
Tanjong Plc was sharply higher by 0.40 rgt to 13.40 after announcing
strong third quarter results.
National carmaker Proton Holdings rose 0.05 rgt to 6.00 on news that
DRB-Hicom Bhd had proposed a merger of the company's marketing division and
that of Proton Holdings Bhd.

For tomorrow...correction for the moment...

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