KUALA LUMPUR: Timber stocks were among the major gainers on Thursday, March 17 as investors expected a recovery housing story in Japan which was battered by the earthquake last Friday that sent its equities markets into a tailspin while fears of a nuclear meltdown loomed.
The FBM KLCI, which opened 9.15 points down to 1,483, managed to recoup most of the losses towards the close as sentiment improved while the broader market showed some signs of recovery
On Bursa Malaysia, the FBM KLCI shed 0.02% or 0.35 of a point to 1,492.09. Losers led gainers by 435 to 285, while 262 counters traded unchanged. Volume was 922.23 million shares valued at RM1.47 billion.
Tokyo stocks recovered from the intraday low as cheap valuations attracted foreign buyers and steadied the market, according to Reuters. Earlier this week, Japanese stocks suffered their worst two-day sell-off since 1987, it said.
The Nikkei 225 closed down 1.44% at 8,962.67, Hong Kong's Hang Seng fell 1.83% to 22,284.43, the Shanghai Composite Index lost 1.14% to 2,897.30, Singapore's Straits Times Index fell 0.95% to 2,942.88 and Taiwan's Taiex shed 0.50% to 8,282.69. However,South Korea's Kospi reversed its earlier losses and edged up 0.05% to 1,959.03.
BIMB Securities Research said the FBMKLCI closed marginally lower plagued by sluggish regional sentiment.
Among the major losers, United PLANTATION []s fell 70 sen to RM16.80, Quality lost 22 sen to RM1.02, GAB and IJM Land down 18 sen each to RM9.61 and RM2.65, F&N and MTD Capital fell 16 sen each to RM15.50 and RM10.68, MSC down 15 sen to RM3.90 while LPI Capital and BAT fell 14 sen each to RM13.16 and RM45.
Timber-related stocks advanced on expectations of an increase in demand for reCONSTRUCTION [] works in the aftermath of the devastating earthquake that hit Japan last Friday.
The top gainer was TA ANN HOLDINGS BHD [] that rose 50 sen to RM4.48. Subur Tiasa added 38 sen to RM2.61, Jaya Tiasa 32 sen to RM5.42, Lingui 18 sen to RM1.65, WTK up eight sen to RM1.62 while Leweko ''added 3.5 sen to 19.5 sen.
WTK was also the most actively traded counter with 30.7 million shares done.
Other gainers included Nestle, Panasonic, SHL, Vitrox and Mieco.
The FBM KLCI, which opened 9.15 points down to 1,483, managed to recoup most of the losses towards the close as sentiment improved while the broader market showed some signs of recovery
On Bursa Malaysia, the FBM KLCI shed 0.02% or 0.35 of a point to 1,492.09. Losers led gainers by 435 to 285, while 262 counters traded unchanged. Volume was 922.23 million shares valued at RM1.47 billion.
Tokyo stocks recovered from the intraday low as cheap valuations attracted foreign buyers and steadied the market, according to Reuters. Earlier this week, Japanese stocks suffered their worst two-day sell-off since 1987, it said.
The Nikkei 225 closed down 1.44% at 8,962.67, Hong Kong's Hang Seng fell 1.83% to 22,284.43, the Shanghai Composite Index lost 1.14% to 2,897.30, Singapore's Straits Times Index fell 0.95% to 2,942.88 and Taiwan's Taiex shed 0.50% to 8,282.69. However,South Korea's Kospi reversed its earlier losses and edged up 0.05% to 1,959.03.
BIMB Securities Research said the FBMKLCI closed marginally lower plagued by sluggish regional sentiment.
Among the major losers, United PLANTATION []s fell 70 sen to RM16.80, Quality lost 22 sen to RM1.02, GAB and IJM Land down 18 sen each to RM9.61 and RM2.65, F&N and MTD Capital fell 16 sen each to RM15.50 and RM10.68, MSC down 15 sen to RM3.90 while LPI Capital and BAT fell 14 sen each to RM13.16 and RM45.
Timber-related stocks advanced on expectations of an increase in demand for reCONSTRUCTION [] works in the aftermath of the devastating earthquake that hit Japan last Friday.
The top gainer was TA ANN HOLDINGS BHD [] that rose 50 sen to RM4.48. Subur Tiasa added 38 sen to RM2.61, Jaya Tiasa 32 sen to RM5.42, Lingui 18 sen to RM1.65, WTK up eight sen to RM1.62 while Leweko ''added 3.5 sen to 19.5 sen.
WTK was also the most actively traded counter with 30.7 million shares done.
Other gainers included Nestle, Panasonic, SHL, Vitrox and Mieco.
No comments:
Post a Comment