Published: Thursday July 5, 2012 MYT 1:04:00 PM
Rally pauses as investors take profit
By Joseph CHin
KUALA LUMPUR: The rally on Bursa Malaysia, which saw the FBM KLCI hitting fresh closing highs for two consecutive days, saw investors taking profit in the morning session on Thursday.
Key regional markets were mostly lower ahead of the European Central Bank's policy decision later in the day, with the euro staying pressured by widespread expectations of a rate cut to support fragile euro zone growth, Reuters reported.
At 12.30pm, the FBM KLCI was down 5.12 points or 0.32% to 1,608.63. Turnover was 539.10 million shares valued at RM493.11mil. There were 250 gainers, 338 losers and 327 stocks unchanged.
Among the key regional markets, Japan's Nikkei 225 fell 0.26% to 9,080.94; Hong Kong's Hang Seng Index 0.29% lower at 19,652.73; Shanghai's Composite Index fell 1.19% to 2,200.76 and Taiwan's Taiex 0.53% to 7,383.48.
Singapore's Straits Times Index rose 0.11% to 2,952.06 and South Korea's Kospi marginally higher by 0.03% to 1,875.06.
US light crude oil fell 54 cents to US$87.12 but Brent rose two cents to US$99.79. Spot gold was at US$1,616.24. The ringgit weakened against the US dollar to 3.1623.
At Bursa Malaysia, CIMB fell nine sen to RM7.61, dragging the KLCI down 1.57 points. HLFG lost 10 sen to RM12.18 and Public Bank four sen to RM13.86.
Crude palm oil futures for third-month delivery fell RM21 to RM3,101. Far East shed 25 sen to RM7.40 with 2,000 shares done, PPB 12 sen lower ro RM15.78 and IOI four sen lower at RM5.22. However, Genting Plantations added 40 sen to RM10.
BAT was the top loser, down 30 sen to RM56.02 with 3,7000 shares done.
FGV call warrants, which were listed on Thursday, rose in active trade. FGV-CC rose three sen to 18 sen with 111 million units done while the shares added two sen to RM5.52. FGV-CK surged 17.2 sen to 40.5 sen.
Tricubes, whose share price tumbled on Wednesday ahead of its suspension, managed to eke out 1.5 sen gains to 4.5 sen.