KUALA LUMPUR: Some follow-through buying in the late afternoon ensured the FBM KLCI closed comfortably above the crucial 1,400 level on Monday, Aug 23, nudged up by CIMB, Genting and'' PPB while a stronger ringgit also stoked interest in equities.
The FBM KLCI closed up 8.13 points to 1,403.15, the highest since February 2008. Turnover was 805.11 million'' shares but the value jumped to RM1.33 billion.
However, the broader market reflected the cautious sentiment, especially after the extended gains, with declining stocks beating advancers 465 to 291 while there were 270 stocks unchanged.
The ringgit was at 3.1310 to the US dollar, up 0.3% at 5.10pm.
In Europe, European shares rose on Monday, with miners up on hopes that election results in Australia would end plans for a new mining tax, while Old Mutual gained after HSBC said it wanted a stake in Nedbank.
By 0900 GMT, the pan-European FTSEurofirst 300 index of top shares was up 0.6 percent at 1,035.64 points, rebounding after falling to a one-month closing low on Friday.
Light crude oil rebounded to top US$74 a barrel on Monday on a weaker US dollar, but prices stayed close to last week's six-week lows on bulging U.S. inventories and a lack of hurricane activity in the Gulf of Mexico, according to Reuters.
At Bursa Malaysia, among the index linked stocks, PPB was the top performer, adding 40 sen to RM17.36, BAT added 24 sen to RM44.60, CIMB and Petronas Dagangan 22 sen higher to RM7.92 and RM10.48 while Genting added 11 sen to RM8.72.
Genting Malaysia rose five sen to RM3.14 in active trade while Maybank added one sen to RM8.14, off the day's best of RM8.40 after proposing final dividend of 44 sen per share.
Telekom Malaysia advanced three sen to RM3.58 ahead of its earnings announcement after market close. Axiata also added three sen to RM4.38.
Mudajaya climbed 20 sen to RM4.36 while TGL added 13 sen to RM1.50 and SunCity 12 sen to RM3.85.
Talam was the most active with 38.79 million shares done, ending the day unchanged at 10.5 sen.
The FBM KLCI closed up 8.13 points to 1,403.15, the highest since February 2008. Turnover was 805.11 million'' shares but the value jumped to RM1.33 billion.
However, the broader market reflected the cautious sentiment, especially after the extended gains, with declining stocks beating advancers 465 to 291 while there were 270 stocks unchanged.
The ringgit was at 3.1310 to the US dollar, up 0.3% at 5.10pm.
In Europe, European shares rose on Monday, with miners up on hopes that election results in Australia would end plans for a new mining tax, while Old Mutual gained after HSBC said it wanted a stake in Nedbank.
By 0900 GMT, the pan-European FTSEurofirst 300 index of top shares was up 0.6 percent at 1,035.64 points, rebounding after falling to a one-month closing low on Friday.
Light crude oil rebounded to top US$74 a barrel on Monday on a weaker US dollar, but prices stayed close to last week's six-week lows on bulging U.S. inventories and a lack of hurricane activity in the Gulf of Mexico, according to Reuters.
At Bursa Malaysia, among the index linked stocks, PPB was the top performer, adding 40 sen to RM17.36, BAT added 24 sen to RM44.60, CIMB and Petronas Dagangan 22 sen higher to RM7.92 and RM10.48 while Genting added 11 sen to RM8.72.
Genting Malaysia rose five sen to RM3.14 in active trade while Maybank added one sen to RM8.14, off the day's best of RM8.40 after proposing final dividend of 44 sen per share.
Telekom Malaysia advanced three sen to RM3.58 ahead of its earnings announcement after market close. Axiata also added three sen to RM4.38.
Mudajaya climbed 20 sen to RM4.36 while TGL added 13 sen to RM1.50 and SunCity 12 sen to RM3.85.
Talam was the most active with 38.79 million shares done, ending the day unchanged at 10.5 sen.
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