Thursday, January 13, 2011

FBM KLCI advances at mid-morning

KUALA LUMPUR: The FBM KLCI advanced in early trade on Thursday, Jan 13 in line with the gains at key regional markets following the firmer overnight close at Wall Street.

Asian markets rose after a successful bond auction in Portugal eased fears about the euro zone's debt crisis and lifted European and US shares, according to Reuters.

At mid-morning, the FBM KLCI was up 2.47 points to 1,568.96, boosted by gains at select blue chips including Petronas Dagangan, KLK, CIMB, AMMB and BAT.

Gainers led losers by 346 to 189, while 264 counters traded unchanged. Volume was 676.78 million shares valued at RM518.86 million.

At the regional markets, Japan's Nikkei 225 rose 0.64% to 10,580.58, Taiwan's Taiex added 0.59% to 9,017.73, South Korea's Kospi gained 0.33% to 2,101.85, Singapore's Straits Times Index added 0.12% to 3,248.73, Shanghai's Composite Index rose 0.08% to 2,823.68 while Hong Kong's Hang Seng Index opened 0.7% higher at 24,289.54.

On Bursa Malaysia, Petronas Dagangan was the top gainer at mid-morning and rose 30 sen to RM12.34; C.I. Holdings added 18 sen to RM3.75, Bursa up 17 sen to RM8.92, DFZ Capital and JT International added 15 sen each to RM3.69 and RM6.40, Gopeng and KLK gained 12 sen to RM1.41 and RM22.38, Petra Energy up 11 sen to RM1.86 and Keck Seng rose 10 sen to RM6.86.

CIMB added two sen to RM8.80, AMMB eight sen to RM7.02, Sime three sen to RM9.33, while BAT and Kulim gained four sen each to RM47.22 and RM13.48.

Faber was the top loser and fell 27 sen to RM2.36 after its various infra maintenance contracts with an annual total value of RM184 million were not renewed.

OSK Research downgraded Faber to a Trading Buy and lowered its sum-of-parts valuation from RM4 to RM3.39.

White Horse lost 14 sen to RM1.90, Panasonic 12 sen to RM18.50, Nestle 10 sen to RM45, PacificMas and Asia File fell eight sen each to RM4.72 and RM4.38, while Masterskill and Genting fell six sen each to RM2.28 and RM11.78.

Karambunai was the most actively traded counter with 75.8 million shares. The stock gained 2.5 sen to 23.5 sen.

Other actives included Compugates, Borneo Oil, SAAG, Scomi, Ho Wah Genting, Daya Materials, Ramunia and Frontken.




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