Tuesday, August 10, 2010

FBM KLCI slightly up in early trade

KUALA LUMPUR: The FBM KLCI edged up above the 1,360-point level in early trade on Tuesday, Aug 10, in line with the general positive sentiment at most regional markets ahead of the US Federal Reserve meeting.

At 9.10am, the FBM KLCI was up 0.47 of a point to 1,361.13, boosted by gains including at BAT and Petronas Gas.

Gainers led losers by 89 to 57, while 101 counters traded unchanged. Volume was 30.82 million shares valued at RM28.23 million.

Among the early gainers, BAT rose 34 sen to RM44.34, Mudajaya up 27 sen to RM4.77, Nestle up 20 sen to RM39, PetGas up 16 sen to RM10.26 while KFCH and Kulim rose 14 sen each to RM10.66 and RM8.30 respectively.

Glove makers continued sliding after Hwang DBS Vickers Research said demand could be normalising to lower levels as the flu outbreak is under control and customers are reducing inventory holding periods to one to two months.

Supermax fell 13 sen to RM5.87, Hartalega down eight sen to RM7.90 while Top Glove fell seven sen to RM6.06.

Other early decliners included EPIC, IJM Corp, Hai-O and KLCC PROPERTIES [].


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