KUALA LUMPUR: Steel companies in Bursa Malaysia have climbed marginally on Wednesday, Nov 3 following its newly-formed Malaysia Steel Association (MSA) promising to invest RM5 billion over three years to boost capacity to 3.2 million tones per annum.
In late morning trade, steel players have yet to pick up steam as Ann Joo added two-sen to RM3.06, Kinsteel up one-sen to RM1 while Perwaja Holdings and Malaysia Steel Works each rose by half a sen to RM1.14 and 89.5 sen respectively.
The MSA has urged the government and the rakyat to support local industries in order to assist the steel and other industries to grow. At 10:30am, the FBM KLCI rose 1.31 points to 1,507.88 riding on blue chips stocks from various sectors. Axiata rose four sen to RM4.48, Genting six sen to RM10.54, AMMB four sen to RM6.34 and Public Bank two sen to RM12.76.
There were 318 gainers and 162 losers while 235 stocks remained unchanged. Top gainer was Kulim which rose 22 sen to RM10.66 while QL Resources took second spot adding 19 sen to RM5.64 sen.
The decliners include DiGi which fell 18-sen to RM25.38 and Nestl'' which dropped 14-sen to RM43.26. Newly-listed China Ouhua Winery Holdings Ltd was most actively traded with 34.82 million shares followed by Mulpha with turnover of 29.21 million units.
In late morning trade, steel players have yet to pick up steam as Ann Joo added two-sen to RM3.06, Kinsteel up one-sen to RM1 while Perwaja Holdings and Malaysia Steel Works each rose by half a sen to RM1.14 and 89.5 sen respectively.
The MSA has urged the government and the rakyat to support local industries in order to assist the steel and other industries to grow. At 10:30am, the FBM KLCI rose 1.31 points to 1,507.88 riding on blue chips stocks from various sectors. Axiata rose four sen to RM4.48, Genting six sen to RM10.54, AMMB four sen to RM6.34 and Public Bank two sen to RM12.76.
There were 318 gainers and 162 losers while 235 stocks remained unchanged. Top gainer was Kulim which rose 22 sen to RM10.66 while QL Resources took second spot adding 19 sen to RM5.64 sen.
The decliners include DiGi which fell 18-sen to RM25.38 and Nestl'' which dropped 14-sen to RM43.26. Newly-listed China Ouhua Winery Holdings Ltd was most actively traded with 34.82 million shares followed by Mulpha with turnover of 29.21 million units.
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