Cautious sentiment prevails

SHARE prices on Bursa Malaysia closed lower as cautious sentiment prevailed ahead of the release of key economic data from China today, dealers said.

The FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 1.86 points to 1,681.09 after opening 3.26 points higher at 1,686.21.

Elsewhere, US stocks were flat with sentiment remaining cautious in view of the soft global economic outlook, while in Japan shares recovered from Wednesday’s decline and in Korea and China, shares declined ahead of China’s economic data today.

OSK Research said without fresh leads locally or externally, the FBM KLCI would remain rangebound with selective interest in lower liners. Immediate support and resistance levels were at 1,673 and 1,700 respectively.

Losers led gainers by 385 to 330 with 355 counters unchanged, 586 untraded and 23 others suspended.

Volume declined to 1.445 billion shares worth RM1.814bil from 1.486 billion shares worth RM1.7bil on Wednesday.

Among actives, Patimas Computers declined four sen to 14 sen, Krisassets Holdings slipped six sen to 17.5 sen, Daya Materials rose one sen to 21.5 sen and Scomi Group increased one sen to 37 sen.

Maybank slipped two sen to RM9.02, Sime Darby eased seven sen to RM9.52, CIMB Group eased five sen to RM7.61 and Axiata was unchanged at RM6.66. – Bernama