Monday, October 4, 2010

Asian markets rally, KLCI above 1,470

KUALA LUMPUR: The FBM KLCI stayed above the 1,470 level at the mid-day break on Monday, Oct 4 in line with the gains at key regional markets, boosted by gains in banking stocks and select blue chips.

At 12.30pm, the index was up 0.41% or 5.98 points to 1,472.30. Market breadth was positive with gainers leading losers by 449 to 229, while 253 counters traded unchanged. Volume was 802.36 million valued at RM784.49 million.

The ringgit was flat against the greenback at 3.0855; crude oil for the third month delivery fell RM61 per tonne to RM2,680, gold was down US$1.45 an ounce to US$1,317.65 while crude oil shed one cent per barrel to US$81.57.

Hang Seng Index +1.4% 22,670.10 Singapore Straits Times Index +1.01% 3,162.57 Nikkei 225 +0.35% 9,437.01 South Korean Kospi +0.40% 1,884.20 Taiwan Taiex +0.32% 8,270.35 ''

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China's stock market is closed for a holiday.

At Bursa Malaysia, bank stocks rose in tandem with the positive market sentiment.

RHB Capital jumped 19 sen to RM7.44, Maybank 10 sen to RM8.91, Hong Leong Financial Group eight sen to RM9.12 while CIMB and Public Bank rose two sen each to RM8.15 and RM12.58.

Kulim rose 35 sen to RM8.95, YTL Cement was up 24 sen to RM4.48, Top Glove gained 23 sen to RM5.58, Lafarge Malayan Cement rose 18 sen to RM8.08, Malaysia Smelting Corp and United Malacca added 16 sen each to RM4.40 and RM11.02, while Hartalega gained 15 sen to RM5.07.

BAT fell 62 sen to RM47.78 after Maybank Investment Bank Research downgraded the stock to a Sell from Hold.

Other losers this morning were Padini that fell 30 sen to RM4.70, Chin Teck down 23 sen to RM8.16, Bintulu Port lost 15 sen to RM6.53, DFZ Capital fell 13 sen to RM3.70, Mentiga and Southern Steel lost 10 sen each to 54 sen and RM2.30 while Lysaght fell nine sen to RM1.59.

SAAG was the most actively traded counter with 60 million shares done. The stock was unchanged at 7.5 sen. Other actives included Time, Scomi, Equator, KNM and Malton.


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