Monday, December 6, 2010

FBM KLCI dips on mid profit taking

KUALA LUMPUR:'' The FBM KLCI succumbed to some mild profit taking at the mid-day break on Monday, Dec 6, as investors stayed on the sidelines in view of the shorter trading week in Malaysia as well as weaker regional market sentiment.

At 12.30pm, the FBM KLCI slipped 0.08% or 1.18 points to 1,499.80, dragged by losses including at DiGi, Maybank and MISC.

Losers overtook gainers by 332 to 285, while 245 counters traded unchanged. Volume was 407.81 million shares valued at RM611.38 million.

The ringgit strengthened 0.19% to 3.1430 versus the US dollar, crude palm oil for the third month delivery rose RM69 per tonne to RM3,544 , crude oil added four cents per barrel to US$89.23 while lost US$1.04 an ounce to US$1,413.03.

At the regional markets, Japan's Nikkei dipped on Monday after weak US jobs data and a renewed focus on US quantitative easing pushed the dollar down against the yen, spurring profit-taking in Tokyo stocks after they hit a six-month high last week, according to Reuters.

Japan's Nikkei 225 and the Shanghai Composite Index each shed 0.16% to 10,162.12 and 2,837.91, the South Korean Kospi fell 0.42% to 1,949.11 while Taiwan's Taiex added 0.93% to 8,704.28, Singapore's Straits Times Index up 0.71% to 3,195.02 and Hong Kong's Hang Seng Index added 0.65% to 23,472.47.

On Bursa Malaysia, Nestle was the top loser at the mid-day break and was down 40 sen to RM43.60. Tahps fell 20 sen to RM4.60, DiGi was down 14 sen to RM24.66, MAHB shed 11 sen to RM6.13, Hong Leong Bank, Cycle & Carriage and HLFG fell 10 sen each to RM9.39, RM4.30 and RM8.90 respectively, EON Capital and Daibochi down nine sen each to RM6.85 and RM2.50, MISC lost five sen to RM8.74 and Maybank fell three sen to RM8.45.

The top gainers included BAT, RHB Capital, PacificMas, Batu Kawan, KL Kepong and Tradewinds.

Careplus Group Bhd, which made its debut on the ACE Market today, was the most actively traded counter with 26.3 million shares done. The stock rose 4.5 sen to 27.5 sen.

The company is set to double its capacity from 420 million gloves annually, and the increase in capacity would come into effect when its new five lines are completed by the third quarter of 2011.

'Careplus' new lines will focus on nitrile gloves,' a company official said.

Other actives this morning included Key West, DRB-Hicom, K-Star Sports, Petronas Chemicals, Axiata, Scomi and JCY.


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