Wednesday, October 13, 2010

FBM KLCI stays above 1,490-level at mid-day break

KUALA LUMPUR: The FBM KLCI managed to stay above 1,490 at the mid-day break on Wednesday, Oct 13, bucking some key regional markets after Hong Kong announced measures to cool its property market.

At 12.30pm, the 30-stock FBM KLCI was up 5.81 points to 1,492.38, lifted by gains including at KL Kepong, PPB Group, RJB Capital and BAT.
Gainers outpaced losers by 423 to 232, while 279 counters traded unchanged. Volume was 561.86 million shares valued at RM879.42 million.

The ringgit strengthened 0.39% to 3.0975 per US dollar; crude palm oil for the third month delivery was flat at RM2,903 per tonne, crude oil rose 57 cents per barrel to US$82.24 while gold jumped US$6.35 an ounce to US$1,356.70.

Dutch Lady was the top gainer, up 86 sen to RM18.86; KL Kepong gained 82 sen to RM18.70, Batu Kawan rose 32 sen to RM13.12, Star added 31 sen to RM4.03, PPB was up 22 sen to RM18, RHB Capital rose 18 sen to RM7.72, BAT up 16 sen to RM48.16 while Hong Leong Bank and APM Automotive rose 15 sen each to RM9.39'' and RM4.88.

Among the decliners, Nestle fell 20 sen to RM44.38, Sindora, Kluang and Shell lost eight sen each to RM1.48, RM2.31 and RM10.62 respectively, BHIC and Masterskill lost seven sen each to RM4.40 and RM3.30

JCY International was the most actively traded stock with 24.7 million shares done.The counter added eight sen to RM1.03. Other actives included Malton,'' Karambunai, PLUS, CIMB and Mulpha.

At the regional markets, Hong Kong's Hang Seng Index slipped into the red, dragged by property stocks after the territory's chief executive said it would increase'' housing supply and restrict immigration based on property investment in an attempt to cool the overheating sector.

In his annual policy address, Hong Kong Chief Executive Donald Tsang said the government would supply more land for about 20,000 private flats annually, while about 61,000 private housing units would likely enter the market over the next 3-4 years, according to Reuters.'' ''

Tsang also said the government would temporarily restrict immigration based on property investment with effect from Thursday, it said.

Hong Kong's Hang Seng Index fell 0.12% to 23,093.65, the Shanghai Composite Index shed 0.04% to 2,840.28, Taiwan's Taiex fell 0.11% to 8,081.15, and the South Korea Kospi Index down 0.03% 1,867.49.

Meanwhile, Japan's Nikkei 225 rose 0.53% to 9,438.72 and Singapore's Straits Times Index added 0.75% to 3,172.95.


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