Friday, December 3, 2010

Limited gains on FBM KLCI at mid-day

KUALA LUMPUR: The FBM KLCI pared down some of its gains at the mid-day break on Friday, Dec 3 and was up marginally by 0.04% or 0.63 points to 1,503.85, supported by the gains including at BAT, KLK, Genting and YTL.

The Shanghai Composite Index slipped into the red on reports citing an academic advisor to the central bank as saying that China would gradually shift to a tighter monetary policy next year, and that it needed to slow money-supply growth.

Also, the HSCC purchasing managers' index for the China services sector fell to a 23-month low of 53.1 in November from 56.4 in October.

Retail investors, who account for more than two-thirds of turnover, tend to buy'' and sell specific sectors in a herd-like manner, with a focus on policy measures key in making trading decisions, according to Reuters.

On Bursa Malaysia, losers overtook gainers by 343 to 278, while 265 counters traded unchanged as some mild profit taking emerged after the Shanghai Composite Index slipped into negative territory earlier this morning, while gains at other key regional markets were limited.

Volume was 489.97 million shares valued at RM708.53 million.

The ringgit strengthened 0.18% to 3.1474 versus the US dollar; crude palm oil for the third month delivery rose RM21 to RM3,474, gold jumped US$4.77 an ounce to US$1,389.95 while crude oil slipped 20 cents per barrel to US$87.80.

On Bursa Malaysia this morning, the top gainer was BAT that added 88 sen to RM45.30; KLK rose 46 sen to RM21.44, Tradewinds up 36 sen to RM5.32, GAB and Batu Kawan rose 24 sen each to RM9.60 and RM16.26, Genting up 20 sen to RM10.60, while Nestle, APM Automotive and YTL added 12 sen each to RM43.70, RM5.32 and RM8.40, respectively.

Sinotop was the most actively traded counter with 21.3 million shares done. The stock added half a sen to 13.5 sen. Other actives included DRB-Hicom, Tradewinds Corp, Karambunai and K-Star Sports.

Losers included Milux, Lafarge Malayan Cement, Hong Leong Bank, Fima Corp, Gamuda, EON Capital, HLFG, IJM Corp, Hap Seng and Sungei Bagan.

At the regional markets, Japan's Nikkei 225 was up 0.12% to 10,180.36, Hong Kong's Hang Seng Index added 0.18% to 23,490.44, Taiwan's Taiex rose 0.64% to 8,640.89, Singapore's Straits Times Index gained 0.15% to 3,202.75, the South Korean Kospi up 0.04% to 1,951.03 while the Shanghai Composite Index fell 0.47% to 2,830.29.

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