FBM KLCI ends higher on bargain hunting

Shares on Bursa Malaysia closed higher today on bargain hunting of discounted stocks ahead of the year-end, dealers said.

At
5pm, the underlying FTSE Bursa Malaysia KLCI stood at 1,506.69, up 2.58
points or 0.17 per cent, after opening 4.06 points lower at 1,500.05.

A dealer said the local bourse was further supported by selective window dressing activities.

The
Finance Index rose 49.54 points to 13,423.76, the Plantation Index
gained 19.46 points to 8,088.32 and the Industrial Index increased 13.05
points to 2,721.07.






The FTSE Bursa Malaysia Emas expanded 29.26 points to 10,347.95, the
FTSE Bursa Malaysia Mid 70 Index advanced 50.47 points to 11,486.77 and
the FTSE Bursa Malaysia Ace Index improved 13.46 points to 4,068.26.

Volume
increased to 1.59 billion shares, worth RM1.16 billion, from 1.27
billion shares, valued at RM904.21 million, registered on Wednesday.

Market breadth was positive with gainers leading losers 492 to 254.

A
dealer said although sentiment was positive on the local bourse trading
was choppy ahead of the year-end as investors were reluctant to take
risky positions.

Nevertheless, the dealer said the benchmark
index was likely to end the year around the 1,500 points level following
window dressing by some fund managers to adjust their portfolio.

Among
active counters, 1 Utopia declined one sen to 6.5 sen while both
Wijaya-Warrants and Sanichi Technology gained 2.5 sen each to 41.5 sen
and 17.5 sen, respectively.

For heavyweights, Maybank eased two
sen to RM8.32, both Sime Darby and Petronas Chemicals were one sen
higher at RM9.00 and RM6.16, respectively while CIMB jumped six sen to
RM7.16.

Volume on the main market advanced to 929.38 million
shares, valued at RM1.07 billion, from 614.35 million shares, valued at
RM771.79 million, recorded on Wednesday.

Turnover on the Ace
Market rose to 417.77 million units, worth RM48.26 million, from
yesterday's 362.93 million units worth RM37.42 million.

Warrants,
however, declined to 232.83 million shares, valued at RM42.28 million,
from 292.32 million units valued at RM92.51 million, transacted
previously.

Consumer products accounted for 130.28 million
shares traded on the Main Market, industrial products 251.18 million,
construction 41.63 million, trade and services 297.36 million,
technology 32.06 million, infrastructure 16.42 million, finance 51.25
million, hotels 345,800, properties 62.28 million, plantations 32.09
million, mining 17,500, REITs 4.17 million and closed/fund 16,900. --
BERNAMA