The stock market closed mixed yesterday following lack of fresh market stimulating news, with losses in Maybank and PLUS, dragging the key index 0.3 per cent lower.
The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) fell 4.10 points to 1,330.17, after trading at an intraday-high of 1,333.27. It opened 1.0 point lower at 1,332.27.
A dealer said bargain-hunting activities emerged in selected index-linked counters but investors preferred to remain on the sidelines due to lingering concerns over the European debt crisis.
The Finance Index erased 55.39 points to 12,032.73, the Industrial Index edged down 1.72 points to 2,693.12 and the Plantation Index slipped 9.19 points to 6,339.86.
The FBM Emas Index lost 19.79 points to 8,947.90, the FBM70 declined 12.33 points lower to 8,785.07 and the FBM ACE Index shed 4.15 points to 3,985.19.
Advancers led decliners 336 to 295 while 287 counters closed unchanged, 460 untraded and 29 others were suspended.
Overall trading volume was slightly higher at 690.919 million shares, worth RM1.144 billion, compared with 633.061 million shares, worth RM1.009 billion, transacted on Monday.
The main market volume rose to 600.555 million shares, worth RM1.126 billion, versus Monday's turnover of 512.210 million shares valued at RM982.330 million.
Talam led the most active counter with 122.592 million shares changing hands. It perked 1 sen to 15 sen.
This was followed by newly-listed Masterskill Education Group Bhd. The share traded within a high of RM4.01 and a low of RM3.60 before finishing 16 sen higher at RM3.96 with 77.519 million shares traded.
The shares of the country's largest operator of a non-government nursing college debut at RM3.60 for a discount of 20 sen with 500,000 shares changing hands at the opening bell. Masterskill successfully priced its initial public offer at the top end of its indicative range of RM3.80 for the institutional tranche and RM3.50 for the retail portion.
For the other actives, Oilcorp lost half-a-sen to 8 sen, MY E.G. Services perked 6 sen to 64.5 sen and Transmile rose 3.5 sen to 49.5 sen.
Among heavyweights, Maybank lost 10 sen to RM7.58, PLUS slipped 11 sen to RM3.39 and Telekom Malaysia was unchanged at RM3.37
Zhulian Corp Bhd has proposed a bonus issue of 115 million new shares on a one for three basis. It said on Tuesday, May 18 that its issued and paid-up share capital was RM172.5 million, comprising of 345 million 50 sen shares. Zhulian said the proposed bonus issue shall be wholly capitalised from the company’s retained profit accounts.
Sarawak Cable Bhd, which is slated to be listed on the Bursa Malaysia main market on May 25, received commendable response for its initial public offering with the public tranche of six million new shares oversubscribed by 6.43 times. The company received a total of 2,904 applications for 44.59 million shares from the Malaysian public.
SEG Interna-tional Bhd’s (SEGi) proposed one-into-two share split has been approved by Bursa Malaysia, and is now pending the approval of its shareholders at an EGM to be convened, it told Bursa Malaysia.