Wednesday, October 20, 2010

FBM KLCI pares down losses at mid-day break

KUALA LUMPUR: The FBM KLCI pared down some of its earlier losses and was only 0.48 point lower to 1,488.17 at the mid-day break on Wednesday, Oct 20 as DiGi and Genting rose to lift the 30-stock index.

The FBM KLCI had earlier fallen as much as 12.09 points to 1,476.56 in tandem with the slump at key regional markets that fell in after China raised its interest rates on Tuesday for the first time since 2007.

On Bursa Malaysia, losers led gainers by 391 to 241, while 318 counters traded unchanged. Volume was 777.38 million shares valued at RM720.77 million.

The ringgit weakened 0.51% to 3.1245 per US dollar; crude palm oil futures for the third month delivery rose RM3 per tonne to RM2,922, gold jumped US$8.67 an ounce to US$1,340.72 (RM4,156.23) while crude oil added 82 US cents per barrel to US$80.31.

The top loser Wednesday morning was BAT that fell RM1.08 to RM47.32; GAB was down 60 sen to RM8, Batu Kawan lost 34 sen to RM15.60, Panasonic down 20 sen to RM18.30, Lysaght fell 17 sen to RM1.62, Bursa lost 15 sen to RM8.20, RHB Capital fell 13 sen to RM7.79 and Lafarge Malayan Cement fell 10 sen to RM7.90.

Among the gainers, DiGi added 28 sen to RM24.74, Genting rose 24 sen to RM10.62, Press Metal up 19 sen to RM1.65, Latexx added 15 sen to RM3.01, DFZ Capital and AirAsia rose 14 sen each to RM3.64 and RM2.59, Sungei Bagan up 11 sen to RM2.97 and Fima Corp added 10 sen to RM5.48.

Karambunai continued to be the most actively traded counter. The stock rose one sen to 26 sen with 88.5 million shares done. Other actives included Timecom, Sinotop, Keladi, Hubline, Carotech and Hovid.

At the regional markets, Japan's Nikkei 225 fell 1.74% to 9,373.83, Hong Kong's Hang Seng Index shed 0.55% to 23,632.73 and Singapore's Straits Times Index lost 0.45% to 3,177.79. Meanwhile, the Shanghai Composite Index rose 0.65% to 3,021.42, the South Korean Kospi added 0.70% to 1,870.30 and Taiwan's Taiex rose 0.71% to 8,103.31.


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