KUALA LUMPUR: The FBM KLCI extended its gains at the mid-day break on Friday, Feb 18 ahead of the 4Q GDP data to be revealed later, in line with most key regional markets that advanced this morning, with Taiwan's Taiex surging more than 2%.
Asian stocks are set to finish their best week in two months as investors scooped up bargains amid signs that heavy selling of the past few weeks was drawing to a close, according to Reuters.
The region's shares and bonds sold off heavily last month as investors fled to the relative safety of developed U.S. and Japanese markets because of inflation concerns, but there were signs that the sell-off may be drawing to a close, it said.
At 12.30pm, the FBM KLCI rose 0.59% or 8.83 points to 1,517.39, lifted by gains including at banking stocks and key blue chips like Genting, Axiata and Petronas Chemicals.
Gainers led losers by 344 to 311, while 317 counters traded unchanged. Volume was 771.62 million shares valued at RM848.67 million.
The ringgit strengthened 0.23% to 3.0380 versus the US dollar; crude palm oil for the third month delivery fell RM6 per tonne to RM3,715, cruded slipped five cents per barrel to US$86.31 while gold gained US$1.08 per troy ounce to US$1,385.18.
Taiwan's Taiex +2.02% 8,859.10 South Korea's Kospi
+1.13% 1,999.66 Hang Seng Index +1.08% 23,552.71 Singapore Straits Times Index +0.85% 3,109.14 Shanghai Composite Index -0.89% 2,900.91 Nikkei 225 +0.06 10.843.35 ''
Among the major gainers this morning, Genting rose 24 sen to RM10.36, Axiata eight sen to RM5.16, Petronas Chemicals 11 sen to RM6.26 and DiGi 40 sen to RM26.30.
Banking stocks advanced, with CIMB up five sen to RM8.22 while Maybank, Public Bank, AMMB and RHB Capital added four sen each to RM8.54, RM13.10, RM6.36 and RM8.16 respectivley.
Among PLANTATION []s, Kulim was up RM1 to RM16, United Plantations 40 sen to RM16.90, Batu Kawan 10 sen to RM16.74 and KLK six sen to RM21.86.
Other gainers included Malayan Flour Mills, MTD Capital and F&N.
Decliners included Widetech, Genome, Scientex, Wah Seong and Kluang.
Proton and Delloyd fell six sen each to RM4.15 and RM3.45. UOB Kay Hian downgraded its recommendation on Proton from a "hold" to "sell" on expectation of a loss for its third quarter ended Dec 31, 2010 due to weaker domestic sales and further investments in Lotus which could dilute its earnings in the short term.
The actives this morning included Dialog, Tanco, Karambunai, Jotech, Iris Corp, Mulpha and SAAG.
Asian stocks are set to finish their best week in two months as investors scooped up bargains amid signs that heavy selling of the past few weeks was drawing to a close, according to Reuters.
The region's shares and bonds sold off heavily last month as investors fled to the relative safety of developed U.S. and Japanese markets because of inflation concerns, but there were signs that the sell-off may be drawing to a close, it said.
At 12.30pm, the FBM KLCI rose 0.59% or 8.83 points to 1,517.39, lifted by gains including at banking stocks and key blue chips like Genting, Axiata and Petronas Chemicals.
Gainers led losers by 344 to 311, while 317 counters traded unchanged. Volume was 771.62 million shares valued at RM848.67 million.
The ringgit strengthened 0.23% to 3.0380 versus the US dollar; crude palm oil for the third month delivery fell RM6 per tonne to RM3,715, cruded slipped five cents per barrel to US$86.31 while gold gained US$1.08 per troy ounce to US$1,385.18.
Taiwan's Taiex +2.02% 8,859.10 South Korea's Kospi
+1.13% 1,999.66 Hang Seng Index +1.08% 23,552.71 Singapore Straits Times Index +0.85% 3,109.14 Shanghai Composite Index -0.89% 2,900.91 Nikkei 225 +0.06 10.843.35 ''
Among the major gainers this morning, Genting rose 24 sen to RM10.36, Axiata eight sen to RM5.16, Petronas Chemicals 11 sen to RM6.26 and DiGi 40 sen to RM26.30.
Banking stocks advanced, with CIMB up five sen to RM8.22 while Maybank, Public Bank, AMMB and RHB Capital added four sen each to RM8.54, RM13.10, RM6.36 and RM8.16 respectivley.
Among PLANTATION []s, Kulim was up RM1 to RM16, United Plantations 40 sen to RM16.90, Batu Kawan 10 sen to RM16.74 and KLK six sen to RM21.86.
Other gainers included Malayan Flour Mills, MTD Capital and F&N.
Decliners included Widetech, Genome, Scientex, Wah Seong and Kluang.
Proton and Delloyd fell six sen each to RM4.15 and RM3.45. UOB Kay Hian downgraded its recommendation on Proton from a "hold" to "sell" on expectation of a loss for its third quarter ended Dec 31, 2010 due to weaker domestic sales and further investments in Lotus which could dilute its earnings in the short term.
The actives this morning included Dialog, Tanco, Karambunai, Jotech, Iris Corp, Mulpha and SAAG.
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