KL shares close in negative territory

Share prices ended lower as sentiment remained bearish amid concerns over a possible global economic recession, dealers said.

Regional markets also fell following weak economic data released in China and the debt crisis in Europe and US which were derailing economic growth in Asian countries.

However, some bargain hunting helped the FBM KLCI narrow losses with the market barometer closing 4.82 points easier at 1,433.17.

The Finance Index erased 61.03 points to 12,778.77, the Plantation Index declined 12.15 points to 7,571.21 while the Industrial Index gained 3.19 points to 2,615.75.

The FBM Emas Index fell 47.15 points to 9,822.68, the FBM70 Index dipped 107.471 points to 10,696.01, the FBM Top 100 Index eroded 46.25 points to 9,628.34 and the FBM ACE Index increased 17.17 points to 4,130.20.

Decliners led advancers 450 to 281 while 271 counters were unchanged, 470 untraded and 16 others were suspended.

Volume increased to 1.51 billion shares, worth RM1.13 billion, from 1.27 billion shares, worth RM1.04 billion, recorded yesterday.

Among the active counters, MBF Holdings warrants gained seven sen to 25.5 sen, Sumatec Resources gained half-a-sen to 28.5 sen, Sumatec Resources warrants remained unchanged at 16 sen and DPS Resources increased two sen to 19 sen.

Among the heavyweights, Maybank slipped three sen to RM8.17, CIMB declined eight sen to RM6.68, Sime Darby declined three sen to RM8.73 while RHB Capital rose five sen to RM7.42. -- Bernama