Friday, July 9, 2010

Blue chips inch up, LPI leads

KUALA LUMPUR: Blue chips inched up in early trade on Friday, July 9, led by LPI but the gains were fairly limited ahead of the weekend while banks were mostly unchanged following Bank Negara's move to raise the overnight policy rate.

At 9.35am, the FBM KLCI was up 0.12 point to 1,316.15. Turnover was 46.66 million shares done valued at RM43 million. There were 104 gainers, 78 losers and 136 stocks unchanged.

LPI was the top gainer after posting improved earnings and announcing its bonus issue plan. It chalked up 26 sen to RM16.54 with 60,100 shares done.

Motor stocks CCB added 13 sen to RM6.55 and Proton 11 sen to RM4.47.

Other gainers were Titan, up six sen to RM1.69 while Superm ax added four sen to RM5.84.

Kenmark was the most active with 7.15 million shares done, down one sen to 9.5 sen after Bursa Malaysia Securities commenced enforcement proceedings against the company, its managing director, Hwang Ding Kuo @ James Hwang and executive director, Chang Chin-Chuan for various breaches of disclosure requirements under the Listing Requirements.

Tanjong fell the most, down 32 sen to RM17.48 with 25,900 shares done.


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