Thursday, November 25, 2010

KLCI, Asian markets up on positive US data

KUALA LUMPUR: Key Asian markets rose in the morning session on Thursday, Nov 25 after the positive economic data from the US as concerns about the Ireland debt crisis took a back seat.

At 12.30pm, the FBM KLCI was up 8.16 points or 0.56% to 1,496.70. Turnover was 549.61 million shares valued at RM710.74 million.'' There were 297 gainers, 229 losers and 252 stocks unchanged.

Japan's Nikkei 225 rose 0.79% to 10,109.55, the Hang Seng Index added 1.03% to 23,260.11, Shanghai's Composite Index 0.94% higher at 2,886.68 and Taiwan's Taiex 0.65% to 8,350.84. Korea's Kospi rose 0.28% to 1,931.36 and Singapore's Straits Times Index 0.8% higher at 3,162.06.

At Bursa Malaysia, Genting rose 24 sen to RM10.36, adding 2.15 points to the KLCI while Axiata added nine sen to RM4.58, pushing up the index by another 1.84 points.

CIMB rose five sen to RM8.39, Sime Darby four sen to RM8.73 and Maybank two sen to RM8.72.DiGi rose 18 sen to RM24.70 and PPB 14 sen to RM18.56.

Companies in the Johor Corp group rose, with KPJ up 23 sen to RM3.99 and KPJ-WA 17 sen higher at RM2.13. Its food related companies Kulim, KFCH and QSR advanced before their suspension at midday.

Carlyle Asia Investment Advisors Ltd had made a non-binding offer to Kulim to acquire all its shares in QSR BRANDS BHD [] at RM6.70 a share. QSR-WB rose 18 sen to RM2.88, QSR 15 sen to RM5.6,'' KFCH three sen to RM3.95 and Kulim 12 sen to RM12.

Sunway Holdings and Sunway City rose after the proposed merger. Sunway-WC added 18 sen to RM1.32, Sunway 10 sen to RM2.35 and Suncity 16 sen higher at RM4.65.

KNM was the most active with 72.5 million shares done, rising five sen to 48.5 sen after reporting a stronger set of results.

Nestle fell the most, down 28 sen to RM43.10 with 400 shares done and Dutch Lady eight sen lower at RM17.84.

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