Monday, January 24, 2011

FBM KLCI extends losses for fourth day

KUALA LUMPUR: The FBM KLCI extended its losses in early trade on Monday, Jan 24 as some profit taking continued to chip away the gains made by stocks from the rally during the start of the year.

At 10.30am, the 30-stcok index fell 3.43 points to 1,544.00, weighed by losses at select blue chips including UMW Holdings, BAT and PPB.

Losers edged gainers by 289 to 224, while 235 counters traded unchanged. Volume was 545.83 million shares valued at RM377.27 million.

At the regional markets, Japan's Nikkei 225 was up 0.38% to 10,313.16, the Shanghai Composite Index added 0.41% to 2,726.32, Singapore's Straits Times Index rose 0.61% to 3,203.88, Taiwan's Taiex rose 0.10% to 8,963.18 while Hong Kong's Hang Seng Index slipped 0.09% to 23,855.90 and South Korea's Kospi shed 0.03% to 2,069.28.

On Bursa Malaysia, PLANTATION []-related stocks were among the early losers, as Glenealy and Kulim fell 20 sen each to RM5 and RM13.08 and PPB lost 12 sen to RM17.08.

Mudajaya fell 19 sen to RM4.97, UMW lost 17 sen to RM7.08, AirAsia 16 sen to RM2.78, MHB and IJM Corp down 13 sen each to RM5.95 and RM6.45, while BAT and DFZ lost 12 sen each to RM48.18 and RM3.39.

Borneo Oil was issued an unusual market activity (UMA) query by Bursa Securities this morning over the high trading volume in its shares. Borneo oil shares rose 2.5 sen to 79 sen with 15.5 million shares done, while its warrants rose 9.5 sen to 49.5 sen with 17.7 million units traded.

Among the gainers, Malaysia Smelting Corp rose 25 sen to 4.85 after its public offer of its shares for secondary listing on Singapore Exchange Securities Trading Ltd (SGX) had been fixed at SG$1.75 or RM4.17 a share.'' The issue price was a discount of about 12.21pct to the five-day volume weighted average price up to and including Jan 19 of RM4.75 per share.

Meanwhile, DiGi added 24 sen to RM25.80, Daiman rose 11 sen to RM1.92, Pos Malaysia up 10 sen to RM3.60, Guan Chong rose nine sen to RM2.71 while QL Resources and CIMB gained seven sen each to RM5.81 and RM8.41.

SAAG was the most actively traded counter with 55.52 million shares done. The stock added one sen to 12.5 sen. Other actives included Ho Wah Genting, Karambunai, Tejari, Talam and Timecom.


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