Share Prices Post Losses
May 04, 2011
Soon after the market's open, the Kuala Lumpur Stock Composite Index of 100 blue-chip stocks was down 4.22 to 1118.60, after rising 17.38 Wednesday. The Second Board Index was up 0.59 to 507.02. Declining issues led advancers, 145 to 172, while 142 shares remained unchanged and 298 stocks were untraded. Volume totaled 21.5 million shares valued at 165.2 million ringgit, compared with Wednesday's 19.5 million shares valued at 172.1 million ringgit at about the same time. Traders said that foreign funds returned to the market, which should trigger buying of good-quality Malaysian stocks. Traders said they expect to see heavy buying on motor stocks and main-board stocks. Tan Chong Motor Holdings is expected to report earnings. Tan Chong shares fell 2 sen to 4.74 ringgit. Malayan Banking shares were not heavily traded, after Wednesday's run as the most actively traded stock following the report of its strong earnings report. Malayan Banking fell 30 sen to 23.60 ringgit on volume of 208,000 shares. SHH Resources Holdings, a wooden furniture manufacturer, gained 6.30 sen to 10.70 ringgit on its debut on the second board Thursday. Its initial public offering was at 4.40 ringgit a share. So far, 555,000 thousand shares have changed hands.
