Bursa Malaysia closed sharply lower

Bursa Malaysia closed sharply yesterday (Friday, 5th August 2011) as investors fled stocks for safe haven assets. Investors now prefer keeping gold rather than held stocks. Confidence level drastically dropped due to Europe’s debt crisis and the increasingly gloomy global economic outlook.

The benchmark FBM KLCI plunged 22.46 points to 1,524.43, the lowest since May 10, 2011. The Finance Index lost 271.699 points to 14,489.15, Plantation Index fell 145.51 points to 7,592.94 and the Industrial Index eased 46.81 points to 2,758.24.


Among active stocks, Sanichi Technology slipped two sen to 8.5 sen, Air-Asia lost 15 sen to RM3.95 and Malaysia Building Society Bhd-warrant 11/16 dropped 4.5 sen to 75.5 sen.

Axiata Group, however, was unchanged at RM5.07.

In heavyweights, Maybank lost eight sen to RM8.77, CIMB fell 11 sen to RM8.29, Petronas Chemicals slipped 32 sen to RM6.59 and Petronas Gas fell 22 sen to RM13.12.

Catcha Media bucked the trend to rise 14 sen to 90 sen on news of a new substantial shareholder.

Volume on the Main Market increased to 1.349 billion shares worth RM3.596 billion from 702.706 million shares worth RM1.466 billion on Thursday.

Turnover on the ACE Market fell to 275.994 million units worth RM55.789 million from 370.385 million units valued at RM63.521 million on Thursday.

Warrants increased to 135.206 million shares worth RM16.378 million from 72.146 million shares worth RM11.083 million previously.

Consumer products accounted for 53.6 million shares traded on the Main Market, industrial products 229.5 million, construction 110 million, trade and services 450.2 million, technology 22.1 million, infrastructure 16.4 million, finance 201.4 million, hotels 1.5 million, properties 173 million, plantations 71 million, mining 181,900,REITs 5.8 million and closed/fund 227,900. (BERNAMA)