KUALA LUMPUR: Sarawak counters were among the gainers in the morning session on Monday, March 21 as momentum picked up on the dissolution of the state assembly while the FBM KLCI managed to recover from the initial fall as sentiment showed some improvement in line with key regional markets.
Asian shares rose as market players scooped up beaten-down stocks after heavy losses last week, while oil prices jumped more than US$2 as Western forces struck targets in Libya, according to Reuters.
The FBM KLCI added 1.09 points to 1,504.98.Volume was 427.64 million shares valued at RM525.26 million. Gainers led losers by 419 to 202, while 236 counters traded unchanged.
The ringgit strengthened 0.46% to 3.0390 versus the US dollar; crude palm oil added RM11 per tonne to RM3,457, crude oil rose US$1.75 per barrel to US$102.82 while gold jumped US$9.43 per troy ounce to US$1,428.33.
Regional stocks had just been picking up after a sell-off in recent weeks because of a combination of inflation, higher oil prices and frothy valuations, when the March 11 earthquake and tsunami in Japan dealt them another blow, it said. Japan's markets were closed for a national holiday.
Hang Seng Index +1.21% 22,574.01 Singapore's Straits Times Index +1.07% 2,967.22 South Korea's Kospi
+0.84% 1,997.77 Taiwan's Taiex +0.81% 8,462.88 Shanghai Composite Index +0.16% 2,911.51 ''
At Bursa Malaysia, Sarawak-based companies advanced, with Naim up 16 sen to RM3.24, Cahya Mata Sarawak 10 sen to RM2.69, HSL six sen to RM1.83, Encorp eight sen to 89 sen and Zecon six sen to 52 sen.
Among timber-related stocks, Ta Ann and Subur Tiasa gained 16 sen each to RM5.89 and RM2.95, WTK five sen to RM1.63 and Jaya Tiasa four sen to RM5.48 as investors expected demand to pick up on Japan's reCONSTRUCTION [].
''
BAT added 48 sen to RM46, DiGi 22 sen to RM27.68, Mudajaya 20 sen to RM4.80, Hong Leong Industries 19 sen to RM4.03, MFCB 16 sen to RM1.73 and Perstima 15 sen to RM4.80.
Among the decliners were United PLANTATION []s that fell 20 sen to RM16.60 while Kluang and IOI Corp lost 11 sen each to RM2.55 and RM5.67,
Scomi was the most active with 22.35 million shares done. The stock was up 2.5 sen to 31.5 sen.
Other actives included KUB, Hubline, Iris Corp, Perisai and Petronas Chemicals.
Asian shares rose as market players scooped up beaten-down stocks after heavy losses last week, while oil prices jumped more than US$2 as Western forces struck targets in Libya, according to Reuters.
The FBM KLCI added 1.09 points to 1,504.98.Volume was 427.64 million shares valued at RM525.26 million. Gainers led losers by 419 to 202, while 236 counters traded unchanged.
The ringgit strengthened 0.46% to 3.0390 versus the US dollar; crude palm oil added RM11 per tonne to RM3,457, crude oil rose US$1.75 per barrel to US$102.82 while gold jumped US$9.43 per troy ounce to US$1,428.33.
Regional stocks had just been picking up after a sell-off in recent weeks because of a combination of inflation, higher oil prices and frothy valuations, when the March 11 earthquake and tsunami in Japan dealt them another blow, it said. Japan's markets were closed for a national holiday.
Hang Seng Index +1.21% 22,574.01 Singapore's Straits Times Index +1.07% 2,967.22 South Korea's Kospi
+0.84% 1,997.77 Taiwan's Taiex +0.81% 8,462.88 Shanghai Composite Index +0.16% 2,911.51 ''
At Bursa Malaysia, Sarawak-based companies advanced, with Naim up 16 sen to RM3.24, Cahya Mata Sarawak 10 sen to RM2.69, HSL six sen to RM1.83, Encorp eight sen to 89 sen and Zecon six sen to 52 sen.
Among timber-related stocks, Ta Ann and Subur Tiasa gained 16 sen each to RM5.89 and RM2.95, WTK five sen to RM1.63 and Jaya Tiasa four sen to RM5.48 as investors expected demand to pick up on Japan's reCONSTRUCTION [].
''
BAT added 48 sen to RM46, DiGi 22 sen to RM27.68, Mudajaya 20 sen to RM4.80, Hong Leong Industries 19 sen to RM4.03, MFCB 16 sen to RM1.73 and Perstima 15 sen to RM4.80.
Among the decliners were United PLANTATION []s that fell 20 sen to RM16.60 while Kluang and IOI Corp lost 11 sen each to RM2.55 and RM5.67,
Scomi was the most active with 22.35 million shares done. The stock was up 2.5 sen to 31.5 sen.
Other actives included KUB, Hubline, Iris Corp, Perisai and Petronas Chemicals.
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