KUALA LUMPUR: Shares of KULIM (M) BHD [] traded to a 52-week high of RM12.08 on Bursa Malaysia on Thursday, Nov 4 following a corporate exercise announcement while the FBM KLCI was on positive territory in line with key regional markets.
At midday, Kulim was top gainer surging 58 sen or 5.13% to RM11.88 with turnover of 2.44 million shares that translated into RM29.15 million in value. Its shares had risen 57.3% year-to-date.
Kulim had announced a proposed share split of one 50 sen share into two 25 sen shares, and a one-for-one bonus issue after the share split. It also proposed to issue free warrants on a one-for-eight basis after the share split and bonus issue.
The FBM KLCI rose 3.07 points to 1510.67 after touching a year high of 1,513.41. Gainers outpaced losers by 363 to 310 while 308 counters traded unchanged. Volume was 695.0 million shares valued at RM632.55 million.
The ringgit strengthened to 3.083 per US dollar, spot gold added US$7 an ounce to US$1,355.55 while crude palm oil futures for December delivery rose RM59 to RM3,140 per tonne.
Hang Seng Index +1.18% 24,429.41 Taiwan's Taiex +0.72% 8,353.45 Singapore's Straits Times Index +0.13% 3,229.21 Nikkei 225 +2.05% 9,348.10 Kospi +0.33% 1,942.39 Shanghai Composite Index +1.32% 3,070.97 ''
At Bursa Malaysia, Petronas Dagangan added 26 sen to RM11.36, Genting 12 sen to RM10.70, UMW Holdings nine sen to RM6.89, Public Bank six sen to RM12.80, and IOI Corp two sen to RM5.86.
Pansar was most active stock with 40.26 million shares traded while Talam saw 34.10 million shares transacted at midday. Pansar rose 16 sen to 66 sen when it resumed trading.
Among the decliners were Teo Guan Lee Corp by 19 sen to RM1.50, Advanced Packaging 17 sen to RM1.42 and Padini 17 sen to RM5.03.
CIMB Research said KLCI's CY11-12 EPS forecasts were raised by 1-2.5% as it increased its forecasts for gaming and PLANTATION [] companies in view of the stronger-than-expected performance by Genting Singapore and CPO prices.
"The upgrades more than offset the cut in forecasts for other big caps such as Tenaga and UMW," the research house said.
At midday, Kulim was top gainer surging 58 sen or 5.13% to RM11.88 with turnover of 2.44 million shares that translated into RM29.15 million in value. Its shares had risen 57.3% year-to-date.
Kulim had announced a proposed share split of one 50 sen share into two 25 sen shares, and a one-for-one bonus issue after the share split. It also proposed to issue free warrants on a one-for-eight basis after the share split and bonus issue.
The FBM KLCI rose 3.07 points to 1510.67 after touching a year high of 1,513.41. Gainers outpaced losers by 363 to 310 while 308 counters traded unchanged. Volume was 695.0 million shares valued at RM632.55 million.
The ringgit strengthened to 3.083 per US dollar, spot gold added US$7 an ounce to US$1,355.55 while crude palm oil futures for December delivery rose RM59 to RM3,140 per tonne.
Hang Seng Index +1.18% 24,429.41 Taiwan's Taiex +0.72% 8,353.45 Singapore's Straits Times Index +0.13% 3,229.21 Nikkei 225 +2.05% 9,348.10 Kospi +0.33% 1,942.39 Shanghai Composite Index +1.32% 3,070.97 ''
At Bursa Malaysia, Petronas Dagangan added 26 sen to RM11.36, Genting 12 sen to RM10.70, UMW Holdings nine sen to RM6.89, Public Bank six sen to RM12.80, and IOI Corp two sen to RM5.86.
Pansar was most active stock with 40.26 million shares traded while Talam saw 34.10 million shares transacted at midday. Pansar rose 16 sen to 66 sen when it resumed trading.
Among the decliners were Teo Guan Lee Corp by 19 sen to RM1.50, Advanced Packaging 17 sen to RM1.42 and Padini 17 sen to RM5.03.
CIMB Research said KLCI's CY11-12 EPS forecasts were raised by 1-2.5% as it increased its forecasts for gaming and PLANTATION [] companies in view of the stronger-than-expected performance by Genting Singapore and CPO prices.
"The upgrades more than offset the cut in forecasts for other big caps such as Tenaga and UMW," the research house said.
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