Friday, March 25, 2011

FBM KLCI ends week on a higher note

KUALA LUMPUR: ''The FBM KLCI ended the week on a higher note in line with the gains at the regional markets that advanced after Japanese factories began re-opening after the earthquake a fortnight ago.

World stocks also held firm on Friday, focusing on a buoyant economic and company backdrop, while the euro shrugged off fresh ratings downgrades for Portugal, which is in the grip of a political and debt crisis, according to Reuters.

Europe's single currency wobbled after Standard & Poor's followed Fitch in cutting Lisbon's credit rating by two notches and warned of worse to come. But it soon found its feet, it said.

The FBM KLCI gained 1.71 points to 1,515.55, lifted by gains including at Petronas Chemicals, Genting, Gamuda and RHB Capital.

Gainers beat losers by 483 to 278, while 316 counters traded unchanged. Volume was 1.16 billion shares valued at RM1.73 billion.

At the regional markets, Japan's Nikkei 225 rose 1.07% to 9,536.13, Hong Kong's Hang Seng Index and the Shanghai Composite Index added 1.06% each to 23,158.67 and 2,977.81, Singapore's Straits Times Index rose 0.91% to 3,070.84, South Korea's Kospi gained 0.85% to 2,054.04 and Taiwan's Taiex edged up 0.40% to 8,610.39.

PacificMas was the top gainer today, and surged RM1.11 to RM5.79 after it proposed a total of RM1.698 in dividends per share.

Petronas Chemicals rose seven sen to RM6.83, Genting and Gamuda up six sen each to RM10.46 and RM3.85, while Genting Malaysia added four sen to RM3.59.

Other gainers included Nestle that rose 86 sen to RM47.86, RHB Capital 28 sen to RM8.31, BHIC 23 sen to RM4.17, Bursa 21 sen to RM8.30, Tasek and Panasonic 20 sen each to RM8.85 and RM21.10, while Khind added 19 sen to RM1.58.

Meanwhile, Esso shares shed two-thirds of the early gains in late afternoon trade on Friday, March 25 after the company refuted a news report it could be taken private.

Esso closed 31 sen higher at RM3.80.

HWGB was the most actively traded counter with 65.45 million shares done. The stock added five sen to 68.5 sen.

Other actives included Tanco, Perisai, JCY, Karambunai, Nam Fatt, Media Prima and Axiata.

Decliners included AIC, Ewein, SHL, APM Automotive, Hong Leong Industries and JT International.

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