Friday, June 18, 2010

FBM KLCI little changed at midday

KUALA LUMPUR: Asian markets generally stayed positive at midday Tuesday, June 15 despite slipping into the red earlier following Moody's Investors Service downgrading Greece's credit rating to junk status on Monday, rekindling fears Europe's debt troubles could spread to the banking sector.

At the regional markets, Hong Kong's Hang Seng Index was up 0.39% to 20,129.24, Japan's Nikkei 225 gained 0.27% to 9,906.11, Taiwan's TAIEX Index added 1.24% to 7,478.85, the South Korean Kospi up 0.31% to 1,695.78 while Singapore's Straits Times Index rose 0.28% to 2,825.82.

At Bursa Malaysia, the FBM KLCI rose 0.06% or 0.75 of a point to 1,297.91 at midday, lifted by gains at CIMB, Genting, Genting Malaysia, Maybank and Berjaya Sports Toto.

Losers outnumbered gainers by 242 to 191, while 253 counters traded unchanged. Volume was 223.92 million shares valued at RM345.69 million.

Crude palm oil for the third month delivery fell RM1 per tonne to RM2,383 while crude oil added two cents per barrel to US$75.12.

Among the gainers, CIMB added two sen to RM6.92, Genting five sen to RM7.11, Genting Malaysia three sen to RM2.78, Maybank one sen to RM7.46 and Berjaya Sports Toto five sen to RM4.38.

United Malacca jumped 7.32% or 58 sen to RM8.50 after it proposed to undertake a bonus issue of 67 million bonus shares to be credited as fully paid-up, on the basis of one bonus share for every two existing shares.

Among the decliners, MMC Corp fell seven sen to RM4.15, Kulim and Top Glove lost eight sen each to RM7.30 and RM12.76 while Nestle fell 20 sen to RM34.30.

Other losers included KLK, AirAsia and Scomi.

Embattled Kenmark fell more than 15% with 22.6 mllion shares traded in the morning after Datuk Ishak Ismail ceased to be a substantial shareholder of the company.

The counter fell two sen to 11 sen at noon Tuesday.

Meanwhile, Bursa Malaysia Securities Bhd issued an unusual market activity (UMA) query to ADVANCE INFORMATION MARKETING [] Bhd (AIM) due to the unusual high volume in the trading of company's shares recently.

At 12.30pm, AIM lost 1.5 sen to 14.5 sen with 9.03 million shares traded.

Other actives included Talam, LCL, Maybank and Kumpulan Europlus.


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