KUALA LUMPUR: The FBM KLCI breached the 1,500-point level at the mid-day break on Tuesday, Dec 21 in line with the gains at key regional markets that advanced as concerns of the Korean conflict somewhat eased.
Regional markets perked up after North Korea stepped back from confrontation over "reckless" military drills by the South on Monday and reportedly issued a new offer on nuclear inspection, drawing a cautious response from Seoul and Washington, according to Reuters.
On Bursa Malaysia, gains including at PLUS, AMMB, Genting and Tenaga lifted the FBM KLCI 0.52% or 7.73 points higher to 1,503.61 at 12.30pm.
Gainers led losers by 391 to 228, while 298 counters traded unchanged. Volume was 660.06 million shares valued at RM795.45 million.
The ringgit strengthened 0.35% to 3.1350 versus the US dollar; crude palm oil futures for the third month delivery rose RM39 per tonne to RM3,557, crude oil rose 16 cents to US$89.53 while gold climbed US$1.95 per troy ounce to US$1,387.20.
At the regional markets, Japan's Nikkei 225 rose 1.32% to 10,350.83, Hong Kong's Hang Seng Index gained 1.22% to 22,915.92, South Korea's Kospi added 1.02% to 2,040.94, the Shanghai Composite Index up 0.85% to 2,877.11, Singapore's Straits Times Index added 0.38% to 3,144.91 and Taiwan's Taiex rose 0.37% to 8,801.50.
On Bursa Malaysia, Nestle was the top gainer at the mid-day break and was up 94 sen to RM42.96; MTD Capital jumped 45 sen to RM9.35 after it received a buyout offer from its major shareholders for RM9.50 per remaining share they did not already own.
Jaya Tiasa surged 43 sen to RM4.73 after its net profit for the second quarter ended Oct 31, 2010 surged nine-fold to RM30.08 million from RM3.24 million a year ago.
RHB Research maintained its outperform call on the stock and raised its target price to RM5.78 from RM4.83 previously
PLUS jumped 29 sen to RM4.65 after it received a fourth bid to acquire all its business and undertakings for RM26 billion or RM5.20 per share.
Other major gainers included AMMB that rose 20 sen to RM6.97, Genting up 16 sen to RM10.50, Tenaga up six sen to RM8.32 while Gamuda added nine sen to RM3.87.
Hai-O was the top loser this morning and fell 20 sen to RM2.62; other decliners included Panasonic, Batu Kawan, Tasek, PacificMas and Toyo Ink.
The actives included Timecom, PLUS, Hubline, KUB, Petra, DRB-Hicom and Time.
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