KUALA LUMPUR: Blue chips closed higher on Wednesday, March 30 with the FBM KLCI advancing to 1,531, the highest since Feb 9 with small cap stocks in focus as investors, momentarily put behind their worries.
The FBM KLCI rose 11.54 points to 1,531.63 but it is still off the historic high of 1,574.49 recorded on Jan 17. Turnover improved to 2.34 billion shares valued at RM2.48 billion. Advancing counters beat decliners 671 to 241 while 229 stocks were unchanged.
Key Asian markets ended the day higher as worries about the aftermath of the Japan earthquake, euro debt worries, high oil prices and the Middle-east crisis took a backseat.
Reuters reported world stocks bounced back on Wednesday, driven by optimism about potential gains in the coming quarter and setting aside lingering concerns about Japan's nuclear crisis and turmoil in the Arab world.
Japan's yen dipped to a 10-month low against the euro and neared a three-week trough versus the dollar on expectations that interest rates will rise in Europe and the United States.
At Bursa Malaysia, sentiment was also bolstered by Credit Suisse Research's outlook as it expected Malaysia to surprise on the upside in 2011. However, it said uncertainties still remained over the sustainability of growth beyond 2011, it said.
DiGi was the top gainer, adding 54 sen to RM28.46, JTI 34 sen to RM7.12 and Petronas Dagangan 20 sen to RM15.60 while Tradewinds and IJM advanced 18 sen each to RM7.90 and RM6.28.
Among the small cap stocks, MBSB rose 23 sen to RM2.27, Warisan 20 sen to RM2.60 and small CONSTRUCTION [] player Mitrajaya gained 18 sen to RM2.34.
SAAG was the most active with 107 million shares done, rising 1.5 sen to 11.5 sen. Perisai added seven sen to 88 sen with 97.7 million shares done, but it was off the day's best on concerns about the proposed acquisition of Garuda Energy (Labuan) from former major shareholder and CEO Nagendran Nadarajah for US$70 million (RM210 million).
DBE Gurney added 2.5 sen to 16 sen ahead of the listing of additional 593.33 million new shares and 200 million warrants on Thursday.
Timber stocks fell on profit taking after the recent strong run-up on expectations of strong demand to rebuild Japan homes, with Ta Ann down 29 sen to RM6.76, Jaya Tiasa 22 sen to RM6.34 and Lingui 10 sen to RM1.89.
The FBM KLCI rose 11.54 points to 1,531.63 but it is still off the historic high of 1,574.49 recorded on Jan 17. Turnover improved to 2.34 billion shares valued at RM2.48 billion. Advancing counters beat decliners 671 to 241 while 229 stocks were unchanged.
Key Asian markets ended the day higher as worries about the aftermath of the Japan earthquake, euro debt worries, high oil prices and the Middle-east crisis took a backseat.
Reuters reported world stocks bounced back on Wednesday, driven by optimism about potential gains in the coming quarter and setting aside lingering concerns about Japan's nuclear crisis and turmoil in the Arab world.
Japan's yen dipped to a 10-month low against the euro and neared a three-week trough versus the dollar on expectations that interest rates will rise in Europe and the United States.
At Bursa Malaysia, sentiment was also bolstered by Credit Suisse Research's outlook as it expected Malaysia to surprise on the upside in 2011. However, it said uncertainties still remained over the sustainability of growth beyond 2011, it said.
DiGi was the top gainer, adding 54 sen to RM28.46, JTI 34 sen to RM7.12 and Petronas Dagangan 20 sen to RM15.60 while Tradewinds and IJM advanced 18 sen each to RM7.90 and RM6.28.
Among the small cap stocks, MBSB rose 23 sen to RM2.27, Warisan 20 sen to RM2.60 and small CONSTRUCTION [] player Mitrajaya gained 18 sen to RM2.34.
SAAG was the most active with 107 million shares done, rising 1.5 sen to 11.5 sen. Perisai added seven sen to 88 sen with 97.7 million shares done, but it was off the day's best on concerns about the proposed acquisition of Garuda Energy (Labuan) from former major shareholder and CEO Nagendran Nadarajah for US$70 million (RM210 million).
DBE Gurney added 2.5 sen to 16 sen ahead of the listing of additional 593.33 million new shares and 200 million warrants on Thursday.
Timber stocks fell on profit taking after the recent strong run-up on expectations of strong demand to rebuild Japan homes, with Ta Ann down 29 sen to RM6.76, Jaya Tiasa 22 sen to RM6.34 and Lingui 10 sen to RM1.89.
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