KUALA LUMPUR: Buying interest in index-linked banking and PLANTATION [] stocks, as well as select blue chips lifted the FBM KLCI on Thursday, March 3 as Asian markets also made gains, albeit in a cautious trading environment.
Crude oil prices held near 2-1/2 year peaks on Thursday as worries about supply disruption persisted given ongoing unrest in Libya, but upbeat U.S. economic news and a firmer Wall Street helped Asian stocks find a steadier footing, according to Reuters.
Both US crude and Brent crude prices edged up as Libyan rebels repulsed a land and air offensive by Muammar Gaddafi's forces and the defiant leader warned foreign powers of "another Vietnam" if they intervened, it said.
Markets worry the growing instability in key Middle East oil producing countries could signal another threat to global supplies. Bank of America/Merrill Lynch analysts argue the oil shock from Libya ranks as the eighth largest supply shock since 1950, said Reuters.
The FBM KLCI rose 0.58% or 8.64 points to 1,507.92. Gainers led losers by 432 to 204, while 276 counters traded unchanged.
The ringgit strengthened 0.15% to 3.0325 versus the US dollar; crude palm oil for the third month delivery added RM35 per tonne to RM3,600, crude oil rose 32 cents per barrel to US$102.55 while gold eased 57 cents per troy ounce to US$1,433.93.
At the regional markets, Hong Kong's Hang Seng Index rose 0.94% to 23,266.23, Japan's Nikkei 225 up 0.68% to 10,563.70, South Korea's Kospi jumped 1.84% to 1,963.79, Taiwan's Taiex rose 1.49% to 8,748.14, Singapore's Straits Times Index added 1.19% to 3,063.50 and the Shanghai Composite Index was up 0.57% to 2,930.40.
Among the major gainers this morning, RHB Capital rose 11 sen RM8, Hong Leong Bank nine sen to RM9.39, Public Bank eight sen to RM13.12, Maybank six sen to RM8.74, AMMB five sen to RM6.26 and HLFG up four sen to RM8.80.
Plantation-related stocks also advanced, with PPB and Genting Plantations up 24 sen each to RM17.04 and RM7.94, KLK 22 sen to RM20.48, Kulim 17 sen to RM3.38 and Sime Darby rose three sen to RM9.06.
Other gainers included Dutch Lady, Petronas Dagangan, F&N, YTL Corp and Tenaga.
The decliners included Advanced Packaging, Fima Corp, PacificMas, C.I.Holdings and Hong Leong Industries.
Tanco was the most actively traded counter this morning with 30 million shares done. The stock rose two sen to 35 sen. Other actives included Olympia, HWGB, DRB-Hicom, SAAG and Karambunai.
Crude oil prices held near 2-1/2 year peaks on Thursday as worries about supply disruption persisted given ongoing unrest in Libya, but upbeat U.S. economic news and a firmer Wall Street helped Asian stocks find a steadier footing, according to Reuters.
Both US crude and Brent crude prices edged up as Libyan rebels repulsed a land and air offensive by Muammar Gaddafi's forces and the defiant leader warned foreign powers of "another Vietnam" if they intervened, it said.
Markets worry the growing instability in key Middle East oil producing countries could signal another threat to global supplies. Bank of America/Merrill Lynch analysts argue the oil shock from Libya ranks as the eighth largest supply shock since 1950, said Reuters.
The FBM KLCI rose 0.58% or 8.64 points to 1,507.92. Gainers led losers by 432 to 204, while 276 counters traded unchanged.
The ringgit strengthened 0.15% to 3.0325 versus the US dollar; crude palm oil for the third month delivery added RM35 per tonne to RM3,600, crude oil rose 32 cents per barrel to US$102.55 while gold eased 57 cents per troy ounce to US$1,433.93.
At the regional markets, Hong Kong's Hang Seng Index rose 0.94% to 23,266.23, Japan's Nikkei 225 up 0.68% to 10,563.70, South Korea's Kospi jumped 1.84% to 1,963.79, Taiwan's Taiex rose 1.49% to 8,748.14, Singapore's Straits Times Index added 1.19% to 3,063.50 and the Shanghai Composite Index was up 0.57% to 2,930.40.
Among the major gainers this morning, RHB Capital rose 11 sen RM8, Hong Leong Bank nine sen to RM9.39, Public Bank eight sen to RM13.12, Maybank six sen to RM8.74, AMMB five sen to RM6.26 and HLFG up four sen to RM8.80.
Plantation-related stocks also advanced, with PPB and Genting Plantations up 24 sen each to RM17.04 and RM7.94, KLK 22 sen to RM20.48, Kulim 17 sen to RM3.38 and Sime Darby rose three sen to RM9.06.
Other gainers included Dutch Lady, Petronas Dagangan, F&N, YTL Corp and Tenaga.
The decliners included Advanced Packaging, Fima Corp, PacificMas, C.I.Holdings and Hong Leong Industries.
Tanco was the most actively traded counter this morning with 30 million shares done. The stock rose two sen to 35 sen. Other actives included Olympia, HWGB, DRB-Hicom, SAAG and Karambunai.
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