Palm | Kelapa Sawit

Hello guys  here is my opinion based on EOD of FKLI Futures. It still on a sideways and now it dangling at the midle of andrew pitchfork line. Breakthrough from the upperline will indicate UPTREND rally will continue if not you know what will happen rite :p

KL bourse lower on continued selloffs

Kuala Lumpur: Share prices on Bursa Malaysia closed lower yesterday with investors continuously reducing their holdings on the back of rising concerns over spillover effects of the European debt crisis, dealers said.

Losses were mostly seen in banking and finance-related stocks, like Maybank and CIMB, which were the top contributors to the FTSE Bursa Malaysia KLCI in terms of weightage.

As at 5pm, the two heavyweight counters had dragged down the benchmark index to 1,476.46, 4.06 points lower compared with Wednesday's closing of 1,480.52.

The FBM KLCI, which opened 13.29 points lower at 1,467.23, touched an intra-day high of 1,479.41.

The Finance Index lost 110.261 points to 14,018.93 and Plantation Index declined 32.72 points to 7,186.32.

The Industrial Index, however, rose 23.68 points to 2,708.95.

The FBM Emas Index slipped 17.29 points to 10,098.14, FBM ACE Index decreased 7.75 points to 3,756.77, FBMT100 was down by 22.319 points to 9,918.7 and the FBM 70 Index eased 4.67 points to 11,016.61.

Decliners led advancers by 434 to 376 while 257 counters were unchanged, 431 untraded and 36 others suspended.

Total volume decreased to 1.144 billion shares valued at RM2.3 billion from 1.59 billion shares valued at RM3.298 billion on Wednesday.

Volume on the Main Market slipped to 900.226 million shares valued at RM2.267 billion from 1.258 billion shares valued at RM3.252 billion yesterday.

Turnover on the ACE Market decreased to 141.744 million units worth RM20.402 million from 191.112 million units worth RM27.4 million previously.

Of the active stocks, AirAsia shed four sen to RM3.50 and Malaysia Airlines rose eight sen to RM1.80. Dutaland, however, added 3.5 sen to 60.5 sen.

As for heavyweights, Maybank dropped eight sen to RM8.46, CIMB lost 11 sen to RM8.03, Sime Darby eased two sen to RM8.80 and Petronas Chemicals fell four sen to RM6.15.

The FTSE Bursa Malaysia KLCI futures contracts on Bursa Malaysia Derivatives closed slightly lower, tracking the downtrend in the underlying cash market.

August 2011 eased two points to 1,473, September 2011 and December 2011 slipped 4.5 points each to 1,466 and 1,464.5 respectively while March 2012 dropped eight points to 1,463.

Turnover was at 13,813 lots while open interest amounted to 18,909 contracts. - Bernama