Monday, April 18, 2011

FBM KLCI pares down gains

KUALA LUMPUR: The FBM KLCI rebounded on Monday, April 18 and briefly surpassed the 1,530 point-level before paring down some of its gains.

Regional markets mostly retreated on renewed nervousness ahead of quarterly earnings results and lingering worries about indebted euro zone countries.

Sarawak-based companies were in focus today after the weekend state election that saw Barisan Nasional retain its two-thirds majority to continue governing the state.

At 5pm, the benchmark index was up 5.98 points to 1,527.92, lifted by gains including at Genting, YTL Corp, CIMB and Gamuda.

The index had earlier risen to its intra-day high of 1,533.18.

Gainers led losers by 445 to 277, while 287 counters traded unchanged. Volume was 1.03 billion shares valued at RM1.49 billion.

At the regional markets, Hong Kong's Hang Seng Index fell 0.74% to 23,830.31, Japan's Nikkei 225 lost 0.36% to 9,556.65, Singapore's Straits Times Index was down 0.28% to 3,133.38, South Korea's Kospi shed 0.13% to 2,137.72 and Taiwan's Taiex edged down 0.04% to 8,714.48.

Meanwhile, the Shanghai Composite Index gained 0.22% to 3,057.33.

On Bursa Malaysia, F&N was the top gainer today and rose 68 sen to RM16.96; Genting was up 34 sen to RM11.14, Tahps 33 sen to RM4.83, Hong Leong Bank 20 sen to RM10.50, Coastal Contracts 19 sen to RM3.44, YTL Corp 18 sen to RM7.90, Gamuda 14 sen to RM3.83 and CIMB seven sen to RM8.30.

Among the Sarawak-based stocks, Ta Ann rose 22 sen to RM6.33, HSL 16 sen to RM1.79, CMSB 11 sen to RM2.37, Subur Tiasa and Naim Holdings seven sen each to RM3.20 and RM2.99, Jaya Tiasa six sen to RM6.35 and Encorp three sen to 85 sen.

Radio frequency identification (RFID) solutions provider Smartag Solutions Bhd, which made its debut on Bursa Malaysia today, was the most actively traded counter this morning.

The stock rose seven sen to 38 sen with 124.5 million shares done.

Other actives included DBE Gurney, Karambunai, CIMB, Focus, Axiata, Ramunia and MAA.

Decliners included Aeon, BAT, PPB, Shell, Warisan, MPI, UMW and IOI Corp.



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