KUALA LUMPUR:'' A late surge in buying enabled the FBM KLCI close above the key 1,500 level on Monday, Dec 6 while market sentiment also improved but key regional markets closed mixed.
The boost came from US Federal Reserve Chairman Ben Bernanke's suggestion its injection of cash into the economy could exceed the planned US$600 billion, overshadowing weak US jobs data late last week.
The FBM KLCI rose 0.76 of a point to close at 1,501.74 after having spent a substantial part of the day in negative territory. Gainers edged losers by 368 to 359, while 278 counters traded unchanged. Volume was 846.11 million shares valued at RM1.56 billion.
The Shanghai Composite Index added 0.52% to 2,857.18, Taiwan's Taiex gained 0.91% to 8,702.23 while Singapore's Straits Times Index rose 0.28% to 3,181.41.
However, the Nikkei 225 declined 0.11% to 10.167.23, Hang Seng Index fell 0.36% to 23,237.69 and South Korea's Kospi lost 0.18% to 1,953.64.
European shares rose as investors bet that the chances for a global recovery had increased following the comments from Bernanke. The FTSEurofirst 300 index of top European shares climbed 0.4% in early dealings, according to Reuters.
Bernanke's comments came after data on Friday showed a paltry 39,000 increase in US non-farm payrolls and an unexpected rise in the jobless rate to a seven-month high of 9.8%. He said the central bank could increase its bond buying if the economy fails to respond to stimulus efforts or if unemployment stays too high.
At Bursa Malaysia, the 30-stock FBM KLCI was propped by gains including at RHB Capital, BAT, KL Kepong and Petronas Chemicals.
RHB Capital jumped 47 sen to RM8.59, Batu Kawan up 22 sen to RM16.52, KL Kepong 20 sen to RM21.58 while Petronas Chemicals added four sen to RM5.39.
Among consumer-related stocks, Guinness Anchor rose 31 sen to RM9.96, Dutch Lady 30 sen'' to RM18.30 and BAT 28 sen to RM45.48.
Scomi Engineering jumped 18 sen to RM1.14 after its subsidiary Scomi Rail accepted the contract price of RM494 million from Syarikat Prasarana Negara Bhd (SPNB) for the monorail fleet expansion project.
K-Star Sports added four sen to 49.5 sen in active trade after it stated that it did not expect any impact after the expiry of the moratorium.
The China-based company, whose share price plunged last week over concerns about the expiry of the moratorium on Dec 3, said it did not expect any impact on the operation and financial conditions of the K-Star group.
Careplus, which was listed on the ACE Market, rose four sen to 27 sen.
Key West was the most active with 33 million shares done. The stock declined half a sen to 7.5 sen.
Other actives included DRB-Hicom, Petronas Chemicals, new ACE Market-listing Careplus, K-Star Sports, Axiata, Scomi and JCY.
Decliners included Nestle, BLD PLANTATION []s, Tahps, Shell, Lebar Daun, Daibochi, QSR and HLFG.
The boost came from US Federal Reserve Chairman Ben Bernanke's suggestion its injection of cash into the economy could exceed the planned US$600 billion, overshadowing weak US jobs data late last week.
The FBM KLCI rose 0.76 of a point to close at 1,501.74 after having spent a substantial part of the day in negative territory. Gainers edged losers by 368 to 359, while 278 counters traded unchanged. Volume was 846.11 million shares valued at RM1.56 billion.
The Shanghai Composite Index added 0.52% to 2,857.18, Taiwan's Taiex gained 0.91% to 8,702.23 while Singapore's Straits Times Index rose 0.28% to 3,181.41.
However, the Nikkei 225 declined 0.11% to 10.167.23, Hang Seng Index fell 0.36% to 23,237.69 and South Korea's Kospi lost 0.18% to 1,953.64.
European shares rose as investors bet that the chances for a global recovery had increased following the comments from Bernanke. The FTSEurofirst 300 index of top European shares climbed 0.4% in early dealings, according to Reuters.
Bernanke's comments came after data on Friday showed a paltry 39,000 increase in US non-farm payrolls and an unexpected rise in the jobless rate to a seven-month high of 9.8%. He said the central bank could increase its bond buying if the economy fails to respond to stimulus efforts or if unemployment stays too high.
At Bursa Malaysia, the 30-stock FBM KLCI was propped by gains including at RHB Capital, BAT, KL Kepong and Petronas Chemicals.
RHB Capital jumped 47 sen to RM8.59, Batu Kawan up 22 sen to RM16.52, KL Kepong 20 sen to RM21.58 while Petronas Chemicals added four sen to RM5.39.
Among consumer-related stocks, Guinness Anchor rose 31 sen to RM9.96, Dutch Lady 30 sen'' to RM18.30 and BAT 28 sen to RM45.48.
Scomi Engineering jumped 18 sen to RM1.14 after its subsidiary Scomi Rail accepted the contract price of RM494 million from Syarikat Prasarana Negara Bhd (SPNB) for the monorail fleet expansion project.
K-Star Sports added four sen to 49.5 sen in active trade after it stated that it did not expect any impact after the expiry of the moratorium.
The China-based company, whose share price plunged last week over concerns about the expiry of the moratorium on Dec 3, said it did not expect any impact on the operation and financial conditions of the K-Star group.
Careplus, which was listed on the ACE Market, rose four sen to 27 sen.
Key West was the most active with 33 million shares done. The stock declined half a sen to 7.5 sen.
Other actives included DRB-Hicom, Petronas Chemicals, new ACE Market-listing Careplus, K-Star Sports, Axiata, Scomi and JCY.
Decliners included Nestle, BLD PLANTATION []s, Tahps, Shell, Lebar Daun, Daibochi, QSR and HLFG.
No comments:
Post a Comment