KUALA LUMPUR:'' The FBM KLCI extended its losses at the mid-day break on Tuesday, Jan 11, weighed by losses at key blue chips including Maybank, PLUS, CIMB and AMMB, while PLANTATION [] stocks also declined.
Oil and gas-related counters, however, advanced after Prime Minister Datuk Seri Najib Razak announced projects worth in excess of RM20 billion for the sector.
At 12.30pm, the FBM KLCI slipped 0.20% or 3.11 points to 1,560.41. Losers edged gainers by 389 to 385 while 271 counters traded unchanged. Volume was 1.54 billion valued at RM1.21 billion.
The ringgit strengthened 0.06% to 3.0770 versus the US dollar; crude palm oil futures for the third month delivery gained RM16 per tonne to RM3,712, crude oil rose four cents per barrel to US$89.29 and gold slipped 38 cents to US$1,375.30.
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Hang Seng Index +1.04% 23,771.71 Taiwan's Taiex +1.21% 8,924.65 Straits Times Index +0.34% 3,240.28 Kospi unch 2,080.80 Shanghai Composite Index -0.32% 2,782.81 Nikkei - -0.23% 10,516.97 ''
On Bursa Malaysia, the top loser at the mid-day break was Hap Seng that fell 39 sen to RM6.90; other plantations that fell included United Malacca that lost 13 sen to RM7.10, while Hap Seng Plantation and PPB were down 12 sen each to RM3.37 and RM17.42.
PLUS lost 23 sen to RM4.46 after it said that only UEM and EPF had put down the RM50 million cash deposit for their joint takeover offer of RM23 billion or RM4.60 per share.
Among banking stocks, Maybank fell 10 sen to RM8.90, AMMB lost nine sen to RM6.91 while CIMB shed five sen to RM8.78.
Among oil and gas-related stocks, Petronas Gas rose 16 sen to RM11.48, SapuraCrest 15 sen to RM3.42, Kencana seven sen to RM2.74, Dialog five sen to RM2.22, KNM two sen to RM3.07 while Perisai gained 2.5 sen to 63 sen.
SAAG was the most actively traded counter this morning with 285.2 million shares done. The stock added two sen to 15.5 sen.
CIMB Research in a note Jan 11 said that there were positive surprises from both the oil and gas and CONSTRUCTION [] sectors during its Corporate Day conference yesterday.
SapuraCrest confirmed its interest in marginal field development while Petronas Dagangan indicated that it may venture overseas, it said.
The research house said the contractors expressed increased optimism on order book replenishment, backed by 10MP and ETP.
The GTP and the ETP had just started and investors will be looking for positive and inspiring results from these efforts, it said.
'With a little bit of luck, the Malaysian equity market could surprise local and foreign investors in the coming year. We remain Overweight on Malaysia and maintain our year-end target of 1,700 points for the KLCI,' it said.
Other actively traded stocks included Talam, Compugates, Dialog, I-Power, Time and Karambunai.
Asia Media which made its debut on the ACE Market this morning was up 11.5 sen to 34.5 sen with 26.7 million shared traded.
Gainers this morning included Hock Sing Leong, GAB, Malaysia Smelting Corp, SP Setia, Tradewinds and Bursa Malaysia.
Oil and gas-related counters, however, advanced after Prime Minister Datuk Seri Najib Razak announced projects worth in excess of RM20 billion for the sector.
At 12.30pm, the FBM KLCI slipped 0.20% or 3.11 points to 1,560.41. Losers edged gainers by 389 to 385 while 271 counters traded unchanged. Volume was 1.54 billion valued at RM1.21 billion.
The ringgit strengthened 0.06% to 3.0770 versus the US dollar; crude palm oil futures for the third month delivery gained RM16 per tonne to RM3,712, crude oil rose four cents per barrel to US$89.29 and gold slipped 38 cents to US$1,375.30.
''
''
Hang Seng Index +1.04% 23,771.71 Taiwan's Taiex +1.21% 8,924.65 Straits Times Index +0.34% 3,240.28 Kospi unch 2,080.80 Shanghai Composite Index -0.32% 2,782.81 Nikkei - -0.23% 10,516.97 ''
On Bursa Malaysia, the top loser at the mid-day break was Hap Seng that fell 39 sen to RM6.90; other plantations that fell included United Malacca that lost 13 sen to RM7.10, while Hap Seng Plantation and PPB were down 12 sen each to RM3.37 and RM17.42.
PLUS lost 23 sen to RM4.46 after it said that only UEM and EPF had put down the RM50 million cash deposit for their joint takeover offer of RM23 billion or RM4.60 per share.
Among banking stocks, Maybank fell 10 sen to RM8.90, AMMB lost nine sen to RM6.91 while CIMB shed five sen to RM8.78.
Among oil and gas-related stocks, Petronas Gas rose 16 sen to RM11.48, SapuraCrest 15 sen to RM3.42, Kencana seven sen to RM2.74, Dialog five sen to RM2.22, KNM two sen to RM3.07 while Perisai gained 2.5 sen to 63 sen.
SAAG was the most actively traded counter this morning with 285.2 million shares done. The stock added two sen to 15.5 sen.
CIMB Research in a note Jan 11 said that there were positive surprises from both the oil and gas and CONSTRUCTION [] sectors during its Corporate Day conference yesterday.
SapuraCrest confirmed its interest in marginal field development while Petronas Dagangan indicated that it may venture overseas, it said.
The research house said the contractors expressed increased optimism on order book replenishment, backed by 10MP and ETP.
The GTP and the ETP had just started and investors will be looking for positive and inspiring results from these efforts, it said.
'With a little bit of luck, the Malaysian equity market could surprise local and foreign investors in the coming year. We remain Overweight on Malaysia and maintain our year-end target of 1,700 points for the KLCI,' it said.
Other actively traded stocks included Talam, Compugates, Dialog, I-Power, Time and Karambunai.
Asia Media which made its debut on the ACE Market this morning was up 11.5 sen to 34.5 sen with 26.7 million shared traded.
Gainers this morning included Hock Sing Leong, GAB, Malaysia Smelting Corp, SP Setia, Tradewinds and Bursa Malaysia.
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