Kuala Lumpur shares close lower on profit-taking in blue chips - UPDATE 11/1/2007
- Share prices closed lower on persistent
profit-taking pressure on key blue chips from institutional investors,
especially foreign funds, dealers said.
The KLCI closed down 7.13 points or 0.64 pct at 1,106.06.
Loser led gainer 456 to 384, with 291 stocks unchanged and 194
untraded.
Trading volume was 808.10 mln shares valued at 1.43 bln rgt.
Among blue chips, Malayan Banking dropped 0.30 rgt to 11.30, PPB Oil
Palms lost 0.30 rgt to 11.70 and Telekom Malaysia eased 0.15 rgt to 9.65.
Lion Forest Industries rose 0.02 rgt to 2.78 after the company said it
has obtained approval from the Ministry of International Trade and Industry
to dispose of its 97.78 pct stake in Sabah Forest Industries Sdn Bhd to JP
Morgan Special Situations Asia Corp and Ballarpur Industries Ltd for 261 mln
usd.
Gaming group Magnum Corp Bhd fell 0.05 rgt to 2.53 after it said it
currently has no plans to undertake a capital repayment to shareholders,
contrary to a report.
Halifax Capital surged 0.085 rgt or 53.12 pct to 0.245 on news that the
company has won a shipbuilding contract worth about 23.2 mln usd from PT
Kasih Industri Indonesia.
Malaysian Airline System was flat at 4.98 on profit-taking after gaining
earlier on hopes that its earnings may be boosted by lower crude oil prices.

For tomorrow...correction expected to continued...

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