Friday, July 23, 2010

FBM KLCI extends gains at mid-morning

KUALA LUMPUR: The FBM KLCI rose on Friday, July 23 in line with the gains at key regional markets following the overnight higher closing at Wall Street. The healthy earnings from US economic bellwethers such as 3M and UPS also boosted sentiment across the Asian region.

At Bursa Malaysia, the FBM KLCI rose 6.46 points to 1,342.51 at 10am, lifted by gains including at Sime Darby, CIMB, IOI Corp and Genting Malaysia.

Gainers thumped losers by 356 to 99, while 171 counters traded unchanged. Volume was 229.65 million shares valued at RM237.52 million.

At the regional markets, Japan's Nikkei 225 snapped a five-day losing streak and jumped 1.75% to 9,381.79; Taiwan's Taiex Index rose 1.22% to 7,759.51, the South Korean Kospi 0.91% to 1,751.28, Singapore's Straits Times Index up 0.55% to 2,971.92 and the Shanghai Composite Index up 0.53% to 2,575.89.

Meanwhile, Hong Kong's Hang Seng Index opened 1% higher at 20,802.34.

At Bursa Malaysia, Southern Acids was the top gainer at mid-morning and jumped 37 sen to RM1.63 after it resumed trade following resolution in status of appointment of interim receivers and managers.

Sime Darby rose 17 sen to RM7.76, CIMB nine sen '' ''to RM7.29, IOI Corp, Genting Malaysia and MISC up four sen each to RM5.11, RM2.68 and RM8.78, respectively, while Genting added three sen to RM7.61.

Other gainers included Tan Chong Motors, Hong Leong Industries, Goh Ban Huat, Ireka and UEM Land.

Cycle & Carriage was the top loser, and fell RM1.11 to RM6.35 on disappointing dividends. It declared an interim dividend of 5.0 sen a share compared with RM1.25 a year ago. Other decliners included Tafi Industries, Merge, Krisassets, Pensonic and Apollo.

Tebrau was the most actively traded counter with 18.9 million shares done. The stock added 4.5 sen to 72.5 sen. Other actives included Muplha, Zelan, EA Holdings, Berjaya Corp, MK Land and Hovid.

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