Monday, August 23, 2010

FBM KLCI bucks regionals, clings on to 1,400

KUALA LUMPUR: The FBM KLCI held steady to its gains at the mid-day break on Monday, Aug 23 as it rose to its highest level since Feb 20, 2008, propped up by CIMB, Maybank, Genting and PLUS.

At 12.30pm, the benchmark index was up 5.70 points to 1,400.72. Losers led gainers by 358 to 268, while 246 counters traded unchanged. Volume was 399.56 million shares valued at RM589.65 million.

Regional markets were mixed as Japan's Nikkei 225 slipped amid worries a strong yen would derail the fragile economic recovery.

Broad investor concerns about the global economic recovery are weighing on regional stocks which fluctuated through positive and negative territory following a'' string of weak economic data releases from the United States last week, according to Reuters.

Nikkei 225 -0.53% 9,130.30 Hang Seng Index -0.38% 20,901.36 Kospi Index -0.37% 1,768.93 Singapore'' Straits Times Index -0.48% 7,994.89 Taiwan's Taiex +0.85% 7,994.89 Shanghai Composite Index +0.13% 2,645.63 ''

On Bursa Malaysia, CIMB was the top gainer this morning and was up 23 sen to RM7.93; Maybank added 12 sen to RM8.25 while Genting gained eight sen to RM8.69, PLUS'' up five sen to RM4.11, Genting Malaysia added two sen to RM3.11 while Axiata rose one sen to RM4.36.

Mudajaya rose 21 sen to RM4.37, Aliran Ihsan Resources up 16 sen to RM1.47, QL Resources up 15 sen to RM4.70. Suncity was up 11 sen to RM3.84, Batu Kawan and Top Glove added 10 sen each to RM12.04 and RM6.15

Nestle was the top loser this morning and fell 66 sen to RM39; BAT lost 42 sen to RM44, Aeon down 14 sen to RM5.06, while Goh Ban Huat, Far East, MISC and Naim lost 10 sen each to RM1.08, RM6.70, RM8.76 and RM3.26, respectively.

Talam was the most active with 23.3 million shares done. The counter declined half a sen to 10 sen. Newly-listed Focus Point fell 1.5 sen to 37.5 sen.


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