Wednesday, December 29, 2010

FBM KLCI closes at 7-week high, 4 points below historic close

KUALA LUMPUR: The FBM KLCI closed at a seven week high of 1,524.34 on Wednesday, Dec 29, which was just four points below its all-time closing high of 1,528.01 on Nov 10, reflecting the optimism in most key regional markets.

The 30-stock benchmark index advanced 0.45% or 6.90 points to close at 1,524.34, lifted by gains at key blue chips including Genting, DiGi as well index-linked PLANTATION [] stocks.

Gainers led losers by 468 to 292, while 316 counters traded unchanged. Volume was 908.5 million shares valued at RM1.39 billion

Stocks in Hong Kong and Shanghai rebounded in thin trade on Wednesday as investors snapped up financial and property plays after the recent sell off, while China automakers ended up despite an end to tax incentives for small cars, according to Reuters.

Hong Kong's Hang Seng Index surged 1.54% to 22,969.30, the Shanghai Composite Index added 0.68% to 2,751.53, the Singapore Straits Times Index rose 0.76% to 3,207.91, Japan's Nikkei 225 and South Korea's Kospi Index added 0.50% each to 10,344.54 and 2,043.49, while Taiwan's Taiex slipped 0.05% to 8,866.35.

At Bursa Malaysia, the major gainers included BAT, which climbed 60 sen to RM45.48, Hap Seng added 37 sen to RM6.96, Tradewinds Plantations gained 31 sen to RM3.41, Padini rose 30 sen to RM5.55, CBIP added 26 sen to RM3.95, PPB rose 22 sen to RM17.32 and Mudajaya up 19 sen to RM4.40.

Genting was up 18 sen to RM11.16, Maybank rose six sen to RM8.55, Genting Malaysia and YTL Power added five sen each to RM3.41 and RM2.50, while DiGi gained 16 sen to RM25.10.

Decliners included QSR, The Store, SUPPORTIVE INTERNATIONAL [], Adventa, Far East Corp and MAHB.

Maxbiz was the most active with 50.82 million shares done. The stock added 14.5 sen to 23.5 sen. Other actives included Tejari, Limahsoon, Compugates, Time dotCom and IRCB.


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