Monday, August 30, 2010

Genting, Sime, Maybank push KLCI to fresh 30-month high

KUALA LUMPUR: The FBM KLCI rose to another fresh 30-month high on Monday, Aug 30, while key Asian markets rallied after'' comments from Federal Reserve Chairman Ben Bernanke lifted confidence in economic recovery.

At 12.30pm, the FBM KLCI was up 11.21 points or 0.79% to 1,422.26. Turnover was 341.03 million shares valued at RM695.37 million. There were 280 gainers, 281 losers and 279 stocks were unchanged.

Light crude oil rose five cents to US$75.22 while crude palm oil futures gained RM38 to RM2,580, the highest since Aug 19.

Nikkei 225 +1.73% 9,146.39 Hang Seng Index +0.71% 20,744.27 Shanghai Composite Index +1.45% 2,648.57 Singapore Straits Times Index +0.62% 2,956.87 ''

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At Bursa Malaysia,'' gains in Sime Darby, Maybank and Genting pushed the 30-stock FBM KLCI up by 7.52 points. Sime rose 19 sen to RM8.29, Maybank 14 sen to RM8.40 and Genting 26 sen to RM9.30.

CIMB climbed seven sen to RM7.81, pushing the index up by 1.2 points, Tenaga added nine sen to RM8.88. Maxis, which is scheduled to release its earnings after market close, added three sen to RM5.48.

Unisem-WA was the top gainer, up 40 sen to 50 sen while KFCH added 30 sen to RM10.80.

Hard disk drive maker JCY, BCorp and Telekom shed two sen each to 99 sen, 94 sen and RM3.53 respectively.

Cocoaland fell 14 sen to RM2.62, the lowest since Aug 18 after posting disappointing earnings and lower price which it was placing its new shares to F&N.


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