Thursday, December 9, 2010

KLCI nears all-time high

KUALA LUMPUR:'' Blue chips extended their gains for the second day, on Thursday, Dec 9 in line the key regional markets with the FBM KLCI closing 0.74% higher and approaching the all-time historic high of 1,531.99 exactly one month ago.

The 30-stock index rose 0.74% or 11.23 points to 1,521.29, powered by gains in CIMB, Genting, Tenaga and Petronas Chemicals. Volume was 1.53 billion valued at RM2.48 billion. Gainers beat losers by 494 to 307, while 267 counters traded unchanged.

Japan's Nikkei 225 rose 0.52% to 10,285.88, Hong Kong's Hang Seng Index added 0.34% to 23,171.80, Taiwan's Taiex rose 0.58% to 8,753.84, Singapore's Straits Times Index up 0.3% to 3,210.20 while South Korea's Kospi jumped 1.7% to 1,988.96 after the country's central bank held interest rates steady at 2.5% following the increase the previous month.

At Bursa Malaysia, encouraging data on manufacturing and employment released by the Statistics Department lifted investor confidence.

The industrial production index (IPI) rose 3% in October 2010 from a year ago and increased 3.4% from September, the Statistics Department said. The increase in October was underpinned by a 4.5% increase in manufacturing and a 5% increase in the electricity index.

Workers employed in the manufacturing sector rose 6.1% on-year in October to 996,078 and up 0.6% from September.

CIMB added 20 sen to RM8.90, Genting rose 26 sen to RM11.06, Petronas Chemicals was up 13 sen to RM5.54, PPB up 38 sen to RM17.38, BAT jumped RM1.44 to RM47.30, Hong Leong Bank up nine sen to RM9.36, AMMB added eight sen to RM6.50 while Maybank and Axiata rose three sen each to RM8.43 and RM4.76.

Tenaga pared down some of its gains after Energy, Green TECHNOLOGY [] and Water Minister Datuk Seri Peter Chin Fah Kui said there would not be any tariff hike for now.

The stock closed 21 sen higher at RM8.79 after having hit an intra-day high of RM8.82.

Other gainers included LPI Capital, Batu Kawan, Petronas Dagangan, Sunrise, Paramount Corp and S P Setia.

The actives included Petronas Chemicals, Karambunai, DRB-Hicom shares and warrants, Careplus, Petra Perdana, Kencana and Ramunia.

Decliners today included MAHB, Panasonic, Ta Ann, MTD Capital, Shell, QSR and DiGi.

DRB-Hicom shares closed five sen lower at RM1.65, off its intra-day high of RM1.77 while the call warrants, DRB-Hicom-CC slipped four sen to 37.5 sen, off its early high of 46 sen.


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