Tuesday, September 21, 2010

Genting, BAT nudge FBM KLCI higher

KUALA LUMPUR:Genting and BAT helped shore up the FBM KLCI in the morning session on Tuesday, Sept 21 as blue chips gave up part of the early gains.

Investors' sentiment was also supported by the government's plans to target gross national income of RM1.7 trillion in 2020.

Minister in the Prime Minister's Department Datuk Seri Idris Jala said the government targeted 6% gross domestic product (GDP) growth per annum from 2011 to 2020 under the Economic Transformation Programme (ETP).

At 12.30pm, FBM KLCI was up 0.18% or 2.61 points to 1,472.30. However, some mild profit taking saw losers beating gainers by 331 to 265 while 315 counters traded unchanged. Volume was 431.02 million shares valued at RM570.23 million.

Crude palm oil for the third month delivery slipped RM12 per tonne to RM2,696; crude oil fell 62 cents per barrel to US$74.24, gold rose US$1.10 per ounce to US$1,279.45 while the ringgit strengthened 0.06% against the greenback to 3.1010.

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Nikkei 225 -0.18% 9,608.37 Shanghai Composite Index -0.21% 2,583.15 Hang Seng Index +0.13% 22,006.92 Taiwan's Taiex +0.16% 8,199.69 Singapore Straits Times Index +0.24% 3,088.47 ''

At Bursa, Genting rose 10 sen to RM10.28, pushing up the FBM KLCI up by 0.89 of a point while BAT's RM1.16 surge to RM46.80 nudged the index by another 0.53 point.

Nestle was up 28 sen to RM41.98, Southern Steel added 21 sen to RM2.31, KLK and Malaysia Smelting Corp rose 18 sen each to RM17.16 and RM4.28, while Dutch Lady and DiGi.Com rose 10 sen each to RM16.60 and RM24.50Plenitude up 14 sen to RM4.63, DFZ Capital up 11 sen to RM3.67.

Sime Darby advanced three sen to RM8.33 while Genting Malaysia and BToto added two sen each to RM3.25 and RM4.13.

Glove manufacturers fell OSK Research downgraded the sector from outperform to neutral.'' Top Glove fell 25 sen to RM5.55, Hartalega down 16 sen to RM4.54 and Supermax lost eight sen to RM4.27.

Petronas Dagangan and PPB fell 12 sen each to RM11.08 and RM17.54, Golsta fell 11.5 sen to 23.5 sen, HELP down eight sen to RM4.70.

KNM was the most actively traded counter with 29.82 million shares done. The stock added half a sen to 45 sen.'' Other actives included Asia EP, Tejari, Genting Malaysia, Berjaya Corp and AirAsia.


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