Malaysia Shares End -0.1%; Downward Bias Next Week

27 Jul 2012

Malaysia shares end up 0.1% at 1624.94 after choppy trade, buoyed by gains in select consumer and financial stocks.     "The market is clearly having trouble generating enough momentum to test 1650....the index is headed for a drop next week given the rising number of sell signals," a local dealer says, tipping near-term support at 1615.  Market breadth is positive at 390 gainers to 354 losers, with a total volume of 922 million shares.  Among gainers,  British American Tobacco (Malaysia) Bhd (4162.KU) ends up 4.4% at MYR61.94,  Hong Leong Financial Group Bhd (1082.KU) adds 0.7% to MYR12.32 and  Nestle (Malaysia) Bhd (4707.KU) rises 1.1% to MYR60.36.  Among losers, Bumi Armada Bhd (5210.KU) ends down 2.5% at MYR3.86,  Maxis Bhd (6012.KU) eases 2.1% to MYR6.40 and YTL Power International Bhd (6742.KU) dips 1.7% to MYR1.79.