Market Close FBM KLCI closes flat despite growing optimism on Greece debt talks

by **Cals** Thu 11 Jun 2015, 19:44

Market Close
FBM KLCI closes flat despite growing optimism on Greece debt talks

KUALA LUMPUR (June 11): The FBM KLCI closed marginally lower by 0.87 points or 0.05% at 1,735.63 points today.
Reuters reported that Asian stocks rose for a second day, following higher overnight closing on Wall Street amid optimism that progress is being made in Greece’s debt talks.
“There isn’t much excitement in the (local) market today. The market has been oversold in the past few days, so we are starting to see signs of a rebound. But there was some profit-taking in the afternoon,” said Goh Kay Chong, senior remisier at SJ Securities Sdn Bhd.
He noted that rumours of a downgrade in Malaysia’s sovereign credit rating has turned out to be unfounded today, hence the market was not affected.
However, the market undertone remains cautious as reflected by the scoreboard with 468 decliners versus 288 gainers today, while 341 counters remain unchanged.
A total of 1.417 billion shares traded today, with a value of RM1.707 billion.
AirAsia X Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) is the most actively traded stock on Bursa Malaysia today with 80.0 million shares changing hands. The long haul low cost carrier’s share price slipped to new record low of 23 sen, down 1.5 sen or 6.12%.
Today’s top gainers include United Plantations Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), Hartalega Holdings Bhd ([You must be registered and logged in to see this image.]Financial Dashboard), and NCB Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard).
Meanwhile, decliners were led by British American Tobacco (M) Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), Lysaght Galvanized Steel Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), and AirAsia Bhd ([You must be registered and logged in to see this image.] Financial Dashboard).
Regionally, Hong Kong’s Hang Seng was up 0.83%, Japan’s Nikkei was 1.68% higher, while South Korea’s Kospi was also higher by 0.26%.