KL shares open lower on profit taking

Share prices on Bursa Malaysia opened lower on profit taking activities after its recent gains, dealers said.

After 10 minutes of trading, the underlying FTSE Bursa Malaysia KLCI slipped 1.97 points to 1,633.99 after opening 0.2 of a point lower at 1,635.76.

HwangDBS Vickers Research Sdn Bhd said the key index, which climbed 41.7 points or 2.6 per cent over the past 12 days to close at a new all-time high of 1,635.96 on Monday, could pause for a breather soon.

"If so, then the benchmark index is expected to back off slightly from its immediate resistance line of 1,635 points ahead," it said in a note today.

Bursa Malaysia's Finance Index declined 29.94 points to 14,624.26, the Plantation Index fell 7.59 points to 8,841.55 but the Industrial Index climbed 0.65 of a point to 2,863.18.

The FTSE Bursa Malaysia Emas Index shed 4.939 points to 11,187.73, the Malaysia Mid 70 Index rose 22.28 points to 12,325.98 and the FTSE Bursa Malaysia Ace Index went up 8.22 points to 4,364.84.

Gainers led losers 120 to 71 while 132 counters were unchanged, 1,256 were untraded.

A total of 69.451 million shares worth RM39.660 million were traded.

Among actives, OCK Group added 7.5 sen to 43.5 sen, Media Chinese
International gained 15 sen to RM1.50, Hubline Bhd-Warr slipped half-a-sen to three sen, Ays Ventures lost one sen to 57 sen while 1Utopia was flat at seven sen.

For heavyweights, Maybank and CIMB lost three sen each to RM8.76 and RM7.86, respectively, Petronas Chemicals and Tenaga shed two sen each to RM6.55 and RM6.68, respectively, while Sime Darby was flat at RM9.95. Bernama