Kuala Lumpur shares close lower on profit-taking-8/1/2007
- Share prices closed lower on profit-taking
after recent gains.
The Kuala Lumpur Composite Index (KLCI) closed down 7.38 points or 0.66
pct at 1,113.02.
Losers outnumbered gainers 518 to 343, while 262 stocks were unchanged
and 195 counters were untraded.
Trading volume was 876.02 mln shares valued at 1.29 bln rgt.
The market's longer term prospects remain good, he said, noting that OSK
has a year-end target of 1,200 points for the KLCI.
Among index heavyweights, Maybank lost 0.20 rgt or 1.68 pct to 11.70,
Telekom Malaysia fell 0.05 rgt or 0.5 pct to 9.95 and energy firm Tenaga was
steady at 11.40.
Genting fell 1.25 rgt or 3.68 pct to 32.75 and its unit Resorts was down
0.10 rgt or 0.69 pct at 14.40.
Among other gainers, LPI Capital continued to post sharp gains on the
back of its recently-announced generous dividend of 80 sen per share. The
general insurer gained 0.30 rgt or 2.97 pct to 10.40.
Property firm Landmarks surged on hopes that its recent venture for a
resort on Bintan Island in Indonesia may boost its long-term growth
prospects. The stock gained 0.16 rgt or 7.24 pct to 2.37.
Sentiment was also supported by Genting Group's move to continue to
increase stake in the company, dealers said.
New listing Quill Capita Trust also posted sharp gains on its debut on
the main board as it finished at 0.98 rgt, up 16.67 pct over its IPO price
of 0.92 rgt.
The New Straits Times Press (NSTP) and Utusan Melayu were both higher on
renewed speculation that a merger involving the two companies may be
finalized soon. NSTP was up 0.12 rgt or 5.02 pct at 2.51 and Utusan gained 0.
12 rgt or 8.22 pct to 1.58.
Proton was down 0.05 rgt or 0.81 pct at 6.15 after former premier
Mahathir Mohamad said the company should ditch its entire management or risk
further deterioration.

for tomorrow...correction toward 1050 points...

CPO Market correction toward 1800 levels...