Wednesday, November 24, 2010

Asian markets stabilise, mild rebound for KLCI

KUALA LUMPUR: The FBM KLCI staged a mild rebound on Wednesday, Nov 24 as key Asian markets stabilised on bargain hunting a day after the sell-down following North Korea's artillery shelling of a South Korean island.

At midday, the FBM KLCI rose 0.21% or 3.12 points to 1,490.65 at 12.30pm, lifted by gains including at YTL Corp, CIMB, Genting and DiGi.'' Gainers overtook losers by 359 to 306 as investors went bargain hunting while 252 counters were unchanged. Volume was 548.65 million shares valued at RM857.52 million.

The ringgit was little changed at 3.1335 against the greenback; crude palm oil futures for the third month delivery rose RM50 per tonne to RM3,165; crude oil added 37 cents per barrel to US$81.62 and gold fell 75 cents an ounce to US$1,375.65.

Hang Seng Index +0.59% 23,030.79 Singapore's Straits Times Index +0.53% 3,142.76, Shanghai Composite Index +0.26% 2,835.70 Nikkei 225 -0.83% 10,031.72 South Korean Kospi -0.55% 1,918.32 Taiwan's Taiex -0.17% 8,314.42 ''

On Bursa Malaysia,'' MRCB fell five sen to RM2.07, IJM Land added 10 sen to RM3.07 and IJM Corp rose three sen to RM5.72.

YTL Corp was the top gainer, up 46 sen to RM8.59; Kulim 28 sen to RM12.18, Parkson and KFCH 13 sen each to RM5.74 and RM3.98. Hong Leong Bank gained 12 sen to RM9.26 and HLFG rose 11 sen to RM8.95.

CIMB added eight sen to RM8.39 while Genting and DiGi rose four sen each to RM10.08 and RM24.46.

Rock Chemical Industries was the top loser and fell 30 sen to RM1.70; BAT 14 sen to RM44.82, Ralco and APM Auto down 12 sen each to 80 sen and RM5.06, Padini down 10 sen to RM5.10 while Maybank was down one sen to EM8.78.

The actively traded counters included Jotech and IJM Land's shares and warrants, YTL Power, Karambunai, SAAG and HWGB.

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