Thursday, September 23, 2010

Mild pullback on blue chips

KUALA LUMPUR: Blue chips staged a mild pullback in the morning session on Thursday, Sept 23 while market breadth was cautious with three declining counters for'' every one gainer while overall trading declined.

At 12.30pm, the FBM KLCI fell 0.75% or 10.99 points to 1,463.76 as investors continued taking profit from core blue chip stocks. Volume ws 553.85 million shares valued at RM609.86 million. There were 479 losers against 152 gainers.

Sentiment was somewhat dampened following the overnight lower closing at Wall Street and the fact major markets including in Japan, Hong Kong and China were closed'' offered little fresh leads. At the regional markets, Taiwan's Taiex added 0.12% to 8,206.01,'' while Singapore's Straits Times Index declined 0.12% to 3,092.35.

Crude palm oil for the third month delivery rose RM19 per tonne to RM2,692; crude oil added eight cents per barrel to US$74.79 while gold fell 25 cents per ounce to US$1,291.10. The ringgit weakened 0.03% against the greenback and was quoted at 3.0915.

The 30-stock FBM KLCI was mainly dragged by losses at the Genting group and banking stocks. Genting fell 44 sen to RM9.94; Genting Malaysia lost six sen to RM3.44.'' IOI Corp fell eight sen to RM5.52, Maybank lost five sen to RM8.63, CIMB down four sen to RM8.25, AMMB fell three sen to RM5.75 while Public Bank shed two sen to'' RM12.64.

BAT fell 34 sen to RM47.46, Bintulu Port down 32 sen to RM6.63, Putrajaya Perdana and United Malacca lost 30 sen each to RM4.20 and RM11.20 and Masterskill lost 28 sen to RM2.91.

Glove makers continued to slide with Hartalega and Top Glove falling 24 sen each to RM4.06 and RM5.06, while KPJ fell 15 sen to RM3.21.

Among the gainers, Vitrox added 11 sen to RM1.25, Bursa rose eight sen to RM8.13, Jetson was up seven sen to RM1.21, SIG Gases added 6.5 sen to 90.5 sen while QSR Brands and Yokohama Industries gained six sen each to 4.96 and 74 sen.

Karambunai continued to be actively traded with 66 million shares. The stock added two sen to 10 sen. Other actives included Compugates, KNM, Carotech and SIG Gases.




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