Fund Managers Remain Absent
May 01, 2011
The Composite Index, which tracks 100 blue-chip shares, edged up 1.27 to 1103.36. Just 167.7 million shares valued at 1.25 billion ringgit changed hands Monday. More than 250 million shares are usually traded. Traders attributed most of the slowdown to the absence of foreign fund managers, many of whom have been away for much of the summer. They also said that foreign fund managers also are staying away because they aren't convinced the country's economic picture is brightening. The release on Monday of data showing that Malaysia's index of industrial production for June increased 6.8% from the year-earlier period didn't affect the market. The Emas Index, which tracks all main-board shares, edged up 0.23 to 317.63. The Second Board Index of smaller shares rose 7.51 to 495.63. Some of the blue-chip shares that fell were Edaran Otomobil Nasional, which fell 1.40 ringgit to 23.50; and Renong, which lost 14 sen to 3.82 ringgit.
VastPress 2011 Vastopolis
