ThxPORTAL - My OnlinE InvestmenT ProgresS

SHARE prices on Bursa Malaysia extended their losses today on continuous selling mainly in key blue chips and banking-related stocks, dealers said.

The benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) fell as much as 25.84 points amid rising concerns that Europe's debt crisis may spread and over reports of North Korea readying its military for a possible confrontation with South Korea over the sinking of a warship.

At 5pm, the FBM KLCI lost 23.56 points or 1.85 per cent to close at 1,250.13, off it intraday low of 1,247.85. It had opened 8.72 points lower at 1,264.97.

OSK Research said the fragile sentiment in the near term was likely to drive extended volatility in the market with the index possibly attempting to consolidate after the sharp losses over the past week with a downside bias.

Other Asian markets also swam in a sea of red with Tokyo's Nikkei falling 3.1 per cent to 9,459.89 -- its lowest finish since Nov 30, 2009.

The Korea Composite Stock Price Index ended down 44.10 points at 1,560.83 points, the lowest close since Feb 8, 2010, and the Hang Seng Index dropped 3.47 per cent, its biggest percentage drop in almost six months, to 18,985.5.

A dealer said renewed tensions between North and South Korea soured investor sentiment with fears of possible war.

"Investors are worried and continue trimming their positions," he said.

The FBM Emas Index fell 180.41 points to 8,381.68, the FBM70 Index dropped 193.98 points to 8,215.82 and the FBM Ace Index eased 144.30 points to 3,651.02.

The Finance Index plunged 298.68 points to 11,214.17, the Industrial Index declined 32.63 points to 2,544.25 and the Plantation Index lost 109.74 points to 5,906.87.

Losers led gainers by 846 to 82 while 152 counters were unchanged, 320 untraded and 55 others suspended.

Volume increased to 940.627 million shares valued at RM1.787 billion from 662.439 million shares valued at RM1.287 million.

Among actively traded stocks, Talam Corporation was flat at 14 sen while KNM Group shed two sen to 48 sen.

Axiata lost six sen to RM3.58, CIMB Group dropped 24 sen to RM6.58 and Maybank eased 22 sen to RM7.03. Sime Darby lost seven sen to RM7.74, Maxis shed five sen to RM5.12 and MISC slipped eight sen to RM8.42.

Among top losers were Nestle which fell 48 sen to RM34. PPB Group dropped 46 sen to RM15.74 and Tanjong eased 36 sen to RM17.10.

Main Market debutant Sarawak Cable closed lower by 2.5 sen at 67.5 sen after opening 2.5 sen higher at 72.5 sen.

The Main Market volume increased to 804.452 million shares worth RM1.763 billion from 558.770 million shares worth RM1.264 billion yesterday.

The ACE Market volume rose to 57.884 million shares valued at RM7.960 million from 54.074 million shares valued at RM8.410 million.

Warrants rose to 66.126 million units worth RM7.415 million from 38.253 million shares valued at RM5.542 million.

Consumer products accounted for 40.354 million shares traded on the Main Market, industrial products 157.536 million, construction 45.062 million, trade and services 252.455 million, technology 39.215 million, infrastructure 12.088 million, finance 89.853 million, hotels 8.895 million, properties 124.595 million, plantations 30.451 million, mining 27,600, REITs 3.620 million and closed/fund 302,900.

BERNAMA

source HERE