KL shares open mixed in early trade

KUALA LUMPUR: Share prices on Bursa Malaysia opened mixed in early trading Friday, tracking gains in selected key heavyweight
counters, dealers said.

After
11 minutes of trading, the benchmark FTSE Bursa Malaysia KLCI (FBM
KLCI) was up 0.23 points to 1,625.72, after opening 2.69 points lower
at 1,622.80, with persistent major participation by local institutions.

HwangDBS Vickers Research said the Asian equities may see red as investors react to growing signs of a slowing global economy.

"Amid
renewed concerns on weak corporate earnings, major US stock indices
slipped further by between 0.2 per cent and 0.8 per cent overnight," it
said in a note today.

Back home, the research firm said the key
FBM KLCI, which hit a new high of 1,632.94 yesterday before retreating
to 1,625.49, will probably pull back a little more ahead.

"The
benchmark index, nevertheless, is expected to stay above its immediate
support level of 1,610 for the time being," it added.

The
Finance Index gained 17.04 points to 14,612.51, the Plantation Index
fell 40.77 points to 8,831.28 and the Industrial Index lost 7.83 points
to 2,854.55.

The FBM Emas Index slipped 2.96 points to
11,122.70, while the FBM Mid 70 index was 23.24 points higher at
12,228.56, the FBMT 100 lost 2.74 points to 10,940.38 and the FBM ACE
Index shed 16.65 points to 4,338.89.

Gainers led losers 108 to 81 while 112 counters were unchanged with 51.389 million lots worth RM38.536 million transacted.

Among
active counters, MBf Holdings-Warr added 4.5 sen to 29 sen, Naim Indah
earned a sen to 35 sen, Ariantec Global was flat at 7.5 sen and Harvest
Court Industries rose 2.5 sen to 63 sen.

Of the heavyweights,
Maybank and CIMB inched up two sen each to RM8.78 and RM7.88,
respectively, Sime Darby fell four sen to RM9.91, while Petronas
Chemicals lost six sen to RM6.50. -- BERNAMA