Thursday, November 11, 2010

Blue chips snap 6-days of gains, PPB weighs

KUALA LUMPUR: Blue chips snapped their six-days of gains on Thursday, Nov 11 as investors took some money off the table, with PLANTATION []s and banks among the major decliners.

At the close, the FBM KLCI was down 14.31 points to 1,513.70 after hitting a fresh intra-day high of 1,531.99 the previous day. Turnover was 1.58 billion shares valued at RM2.28 billion. Declining stocks beat advancers 447 to 381 while 287 stocks were unchanged.

Nikkei 225 +0.31% 9,861.46 Hang Seng Index +0.82% 24,700.30 Shanghai Composite Index +1.04% 3,147.74 Singapore Straits Times Index +0.3% 3,299.18 ''

Key regional markets closed higher. Nikkei 225 +0.31% to 9,861.46, Hang Seng Index +0.82% to 24,700.30, Shanghai Composite Index +1.04% to 3,147.74, Singapore Straits Times Index +0.3% to 3,299.18.

At Bursa Malaysia, PPB fell the most, down 86 sen to RM18.50, the lowest since Oct 22 after its major earnings contributor Wilmar International posted a set of disappointing results. The fall dragged the KLCI down by 1.65 points.

Maybank fell 17 sen to RM9.10 and it was the main drag on the index, down 2.91 points while Tenaga shed 15 sen to RM8.63.'' Hong Leong Bank fell 25 sen to RM9.55, HLFG 21 sen to RM8.90.

KFC lost 18 sen to RM4.29 and KFC-WB 17 sen to RM2.22.

Among plantations, Chin Teik Plantations lost 20 sen to RM8.70 and KL Kepong 18 sen to RM20.20. Kulim,'' which has interest in plantations, rallied, up 40 sen to RM13.42 while Hap Seng Plantations added 17 sen to RM3.02 and NSOP 15 sen to RM5.45.

Scomi was the most active with 44.13 million shares done, shedding three sen to 42.5 sen.

Muhibbah climbed 14 sen to RM1.39 and it saw 41.9 million shares after CIMB Research initiated coverage with a target price of RM2.


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