Monday, September 13, 2010

FBM KLCI nears 1,450 in early trade

KUALA LUMPUR: The FBM KLCI surged in early trade on Monday, Sept 13, kicking off the new week on a strong note on expectations a stronger ringgit would also draw more foreign investors into equities.

The FBM KLCI rose 11.57 points to 1,449.35 at 9.52am. Turnover was 120 million shares valued at RM189.41 million. There were 271 gainers, 101 losers and 170 stocks unchanged.

Sentiment was also galvanised by Prime Minister Datuk Seri Najib Razak's views that the government is open to the idea of making the ringgit, which recently touched a 13-year high, tradable offshore again.

"We are quite adaptive, and if we think that it's going to help the economy, certainly we will review the situation," he was quoted saying.

Among the key heavyweights, Sime Darby was up 17 sen to RM8.37, Tenaga added 16 sen to RM9.11 and Axiata 14 sen to RM4.54.

KFCH was the top gainer, adding 20 sen to RM3.28 with 2.54 million shares done after its recent corporate exercise involving its share split and bonus issue. UMW added 16 sen to RM6.76, Top Glove 14 sen tp RM5.82 and Kulim 12 sen to RM8.62.

KNM was the most active with 6.14 million shares done, up 1.5 sen to 42 sen. AirAsia gained eight sen to RM1.90.

BAT fell 56 sen to RM47.16 after the recent run-up while Shell lost 34 sen to RM10.50 and Public Bank-F six sen to RM12.38.

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