Monday, June 28, 2010

Cautious start to the week

KUALA LUMPUR: Key Asian markets started the week, Monday, Jan 28 on a cautious note as investors stayed on a sidelines on lingering concerns about external issues like the US economy and eurozone debt crisis.

At Bursa Malaysia, the FBM KLCI fell 2.10 points to 1,324.35 points at 10.15am, in line with the cautious sentiment at regional markets.

Gainers trailed losers by 140 to 150, while 144 counters traded unchanged. Volume was 135.70 million shares valued at RM136.63 million.

Nikkei 225 -0.33% 9,705.08 Shanghai Composite Index -0.01% 2,552.68 Hang Seng Index +0.2% 20,728.40 Singapore's Straits Times Index +0.42% 2,863.55 ''

Among the major losers on Bursa Malaysia, Tanjong fell 14 sen to RM17.66, Hai-O down 25 sen to RM3.87 and Kwantas down 15 sen to RM1.60. Berjaya Corp, which resumed traded at 10am today after a one-hour halt, fell 11 sen to RM1.25 with 7.7 million shares traded.

BCorp shares declined after it said it was aborting its plan to acquire a 70% stake in Ascot Sports Sdn Bhd, following the government's decision not to re-issue the sports betting licence to Ascot.

Other decliners included UMW, Faber, Sarawak PLANTATION []s, Berjaya Sports Toto and Mesiniaga.

Rubber glove makers Top Glove and Kossan were among the top gainers and added 24 sen and RM23 sen respectively to RM13.62 and RM7.82, respectively.

KFCH rose 16 sen to RM10.22, Daibochi up 11 sen to RM3.92, Tomypak nine sen to RM3.22, Bina Goodyear and MPI up eight sen each to 86 sen and RM6.82, while Petra Perdana and Cocoaland added six sen each to RM1.36 and RM1.70.

Time was the most actively traded stock with 16.25 million shares done. The counter rose three sen to 39 sen. Other actives included MK Land, BCorp, Talam, Kumpulan Europlus and Sinotop.





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