Tuesday, October 26, 2010

FBM KLCI eyes 1,500

KUALA LUMPUR: Blue chips closed higher, underpinned by gains in PLANTATION [] and bank stocks, on Tuesday, Oct 26 as sentiment was shored up by the prospects unveiled in the 131 entry-point projects under the Economic Transformation Programme (ETP).

The FBM KLCI closed 0.37% or 5.50 points higher at 1496.94 with the 1,500 remaining the strong barrier. The 30-stock index was lifted by gains including at KL Kepong, BAT, DiGi, Tenaga, Sime Darby and key banking stocks. Gainers led losers by 454 to 361, while 284 counters traded unchanged. Volume was 1.38 billion shares valued at RM1.87 billion.

Among key Asian markets, shares in Hong Kong and Shanghai slipped on Tuesday as banks fell ahead of earnings reports, offsetting gains in refiners after Beijing raised fuel prices.

The Hang Seng Index fell 0.1% to 23,601, with Aluminum Corp of China (Chalco), the top loser, down 4.3 percent after disappointing results.

China's key stock index slipped 0.3% to 3,041 but held above the psychological 3,000 level, which it broke through on Monday's 2.6%.

At'' Bursa Malaysia, KL Kepong was the top gainer today and was up 46 sen to RM19.40; BAT added 28 sen to RM46.96, APM Automotive rose 26 sen to RM5.20, Eurospan Holdings and Kuchai gained 25 sen each to RM1.41 and RM1.24, Nestle added 20 sen to RM44 and Jerneh was up 19 sen to RM3.19.

Meanwhile, Tenaga rose eight sen to RM8.88, Public Bank and Sime Darby up four sen each to RM12.72 and RM8.88, DiGi gained 12 sen to RM24.66 while Maybank and RHB Capital rose two sen each to RM8.95 and RM7.87.

CONCRETE ENGINEERING PRODUCTS [] was the top loser and fell 19 sen to RM2.12; Dutch Lady lost 18 sen to RM17.96, Southern Acids down 16 sen to RM2.67, QSR fell 14 sen to RM5.29, Bintulu Port and TSH down 13 sen each to RM6.85 and RM2.66, Bursa lost 12 sen to RM8.50 while F&N shed 10 sen to RM14.10.

Karambunai was the most actively traded stock with 63.3 million shares done. The stock slipped one sen to 23 sen. Other actives included Iris, Timecom, Axiata, PLUS and Jotech.

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