KUALA LUMPUR: The FBM KLCI reversed its losses from early trade on Friday, Jan 7 and clawed back into the black at the mid-day break, lifted by gains at key blue chips including banks and telecommunications stocks.
Regional markets also pared down their losses after the Shanghai Composite Index rose more than 1.3% on improved business confidence.
China's business confidence index rose to 137 in the fourth quarter of 2010 from 135.9 in the third quarter, the National Bureau of Statistics said on Friday, according to Reuters.
The index has been climbing steadily after hitting an eight-year low of 94.6 in the last quarter of 2008 in the wake of the global financial crisis.
The business climate index, a separate measure of the state of various industries and their outlooks, edged up to 138 in the fourth quarter from 137.9 in the previous quarter, the agency said in a statement on its website, said Reuters.
On Bursa Malaysia, the FBM KLCI gained 0.15% or 2.39 points to 1,570.76 at 12.30pm. Gainers led losers by 462 to 307, while 287 counters traded unchanged. Volume was 1.53 billion shares valued at RM1.69 billion.
The ringgit strengthened 0.02% to 3.0690 versus the US dollar; crude palm oil futures for the third month delivery fell RM72 per tonne to RM3,761, crude oil rose 40 cents per barrel to US$88.78 while gold fell 85 cents per troy ounce to US$1,370.75.
At the regional markets, the Shanghai Composite Index rose 1.37% to 2,862.86, Hong Kong's Hang Seng Index was up 0.16% to 23,824.94, Japan's Nikkei 225 edged up 0.01% to 10,531.29, and the South Korean Kospi Index added 0.21% to 2,082.06.
However, Taiwan's Taiex fell 1.19% to 8,777.75 and Singapore's Straits Times Index lost 0.42% to 3,265.98.
Among the gainers on Bursa Malaysia this morning, Nestle was up 30 sen to RM44.38, Ekovest up 23 sen to RM2.92, MMC Corp added 18 sen to RM3.10, GAB was up 16 sen to RM10.32, Parkson gained 15 sen to RM5.88, Hartalega added 14 sen to RM5.56 while Notion rose 13 sen to RM1.83.
Telecommunications stocks that rose today were Telekom that rose 19 sen to RM3.75, DiGi added 10 sen to RM25.10 and Axiata was up eight sen to RM4.92.
Among the banking stocks, Maybank rose two sen to RM9.03, while Public Bank and AMMB added four sen each to RM13.50 and RM7.07.
PLANTATION []-related stocks slipped on account of the decline in CPO prices, with Batu Kawan down 20 sen to RM17.02, Boustead down six sen to RM5.61, KLK lost two sen to RM22.60 while Sime Darby, CBIP and Kulim fell four sen each to RM9.36, RM4.45 and RM13.66 respectively.
Other decliners included Far East Corp, Sindora, LPI Capital, Tenaga and TDM.
The actives included SAAG, Talam, Hubline, Ho Wah Genting, Karambunai, IRCB, Mulpha and Ramunia.
Regional markets also pared down their losses after the Shanghai Composite Index rose more than 1.3% on improved business confidence.
China's business confidence index rose to 137 in the fourth quarter of 2010 from 135.9 in the third quarter, the National Bureau of Statistics said on Friday, according to Reuters.
The index has been climbing steadily after hitting an eight-year low of 94.6 in the last quarter of 2008 in the wake of the global financial crisis.
The business climate index, a separate measure of the state of various industries and their outlooks, edged up to 138 in the fourth quarter from 137.9 in the previous quarter, the agency said in a statement on its website, said Reuters.
On Bursa Malaysia, the FBM KLCI gained 0.15% or 2.39 points to 1,570.76 at 12.30pm. Gainers led losers by 462 to 307, while 287 counters traded unchanged. Volume was 1.53 billion shares valued at RM1.69 billion.
The ringgit strengthened 0.02% to 3.0690 versus the US dollar; crude palm oil futures for the third month delivery fell RM72 per tonne to RM3,761, crude oil rose 40 cents per barrel to US$88.78 while gold fell 85 cents per troy ounce to US$1,370.75.
At the regional markets, the Shanghai Composite Index rose 1.37% to 2,862.86, Hong Kong's Hang Seng Index was up 0.16% to 23,824.94, Japan's Nikkei 225 edged up 0.01% to 10,531.29, and the South Korean Kospi Index added 0.21% to 2,082.06.
However, Taiwan's Taiex fell 1.19% to 8,777.75 and Singapore's Straits Times Index lost 0.42% to 3,265.98.
Among the gainers on Bursa Malaysia this morning, Nestle was up 30 sen to RM44.38, Ekovest up 23 sen to RM2.92, MMC Corp added 18 sen to RM3.10, GAB was up 16 sen to RM10.32, Parkson gained 15 sen to RM5.88, Hartalega added 14 sen to RM5.56 while Notion rose 13 sen to RM1.83.
Telecommunications stocks that rose today were Telekom that rose 19 sen to RM3.75, DiGi added 10 sen to RM25.10 and Axiata was up eight sen to RM4.92.
Among the banking stocks, Maybank rose two sen to RM9.03, while Public Bank and AMMB added four sen each to RM13.50 and RM7.07.
PLANTATION []-related stocks slipped on account of the decline in CPO prices, with Batu Kawan down 20 sen to RM17.02, Boustead down six sen to RM5.61, KLK lost two sen to RM22.60 while Sime Darby, CBIP and Kulim fell four sen each to RM9.36, RM4.45 and RM13.66 respectively.
Other decliners included Far East Corp, Sindora, LPI Capital, Tenaga and TDM.
The actives included SAAG, Talam, Hubline, Ho Wah Genting, Karambunai, IRCB, Mulpha and Ramunia.
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