Wednesday, December 29, 2010

FBM KLCI just 8 pts away from historic high

KUALA LUMPUR: The FBM KLCI advanced on Wednesday, Dec 29, chalking up more than six points at the midday break to 1,523.61 but the benchmark index was still eight points away from the all-time intra-day high of 1,531.99 on Nov 9.

At 12.30pm, the FBM KLCI was up 0.41% or 6.17 points to 1,523.61, lifted by index-linked PLANTATION [] stocks that advanced on still favourable crude palm oil prices, as well as key blue chips including Genting and DiGi. The index had earlier risen to its intra-morning high of 1,526.93.

Gainers led losers by 378 to 269, while 288 counters traded unchanged. Volume was 417.08 million shares valued at RM607.83 million.

Key regional markets rose on bargain hunting activities earlier in the day before profit taking set in as investors wary of the weaker data from US and the holiday-shortened trading week at key regional markets are reluctant to take positions ahead of the year-end holidays.

The ringgit strengthened 0.06% to 3.0925 versus the US dollar; crude palm oil for the third month delivery eased RM28 per tonne to RM3,750, crude oil fell 18 cents per barrel to US$91.31 while gold lost US$2.02 per troy ounce to US$1,403.88.

At the regional markets, Hong Kong's Hang Seng Index jumped 1.04% to 22,856.00, Singapore's Straits Times Index rose 0.69% to 3,205.70, Japan's Nikkei 225 added 0.44% to 10,337.79, South Korea's Kospi rose 0.30% to 2,039.34, Taiwan's Taiex edged up 0.02% to 8,872.83 while the Shanghai Composite Index was up 0.10% to 2,735.82.

At Bursa Malaysia, the top gainer was BAT that added 64 sen to RM45.20; PPB and Hap Seng added 30 sen each to RM17.40 and RM6.89, CBIP rose 26 sen to RM3.95, Tradewinds Plantations was up 21 sen to RM3.31, and KLK, DiGi and Padini gained 20 sen each to RM22.84, RM25.14 and RM5.45 respectively

Genting rose 10 sen to RM11.08 while Sime Darby and Genting Plantations gained seven sen each to RM8.84 and RM8.85.

Mudajaya added 14 sen to 4.35. Tejari was the most actively traded counter this morning with 18.35 million shares done. The stock shed two sen to 17.5 sen.

Other actives included Compugates, Maxbiz, JAKS, Timecom, Olympia and CIMB.

The top loser was QSR that fell 14 sen to RM5.19; The Store lost 12 sen to RM2.48, MPI fell nine sen to RM5.60, Latexx lost eight sen to RM2.55 while Warisan and Lafarge fell seven sen each to RM2.40 and RM7.90.


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