Stocks Slip Ahead of U.S. Data
May 19, 2011
The Kuala Lumpur Stock Exchange composite index fell 2.16 to 1105.33 on volume of 219.1 million shares valued at 1.85 billion ringgit. Advancers led decliners 328 to 209, with 152 shares unchanged. The broader Emas Index slipped 0.21 to 319.92. Analysts said that foreign investors avoided the main board Friday, awaiting further indications that interest rates will fall. The market was particularly slow as institutional investors were sidelined ahead of the release of U.S. employment data later Friday. Investors are concerned that the U.S. Federal Reserve might use strong data as an excuse to raise interest rates. Advertising company Barbosa was the biggest gainer Friday, rising 7.70 ringgit to 10.70 as it debuted on the second-tier sector. Other second-tier shares that rose were those related to the Bakun Dam project valued at 13.8 billion ringgit.
VastPress 2011 Vastopolis
