Friday, April 22, 2011

FBM KLCI stays in the red at mid-day

KUALA LUMPUR: The FBM KLCI remained in negative territory at the mid-day break amidst lackluster trade in the absence of fresh leads, as several key regional markets were closed for the Good Friday holiday ahead of the extended weekend at most global markets.

The FBM KLCI fell 0.12% or 1.85 points to 1,524.48 at 12.30pm.

Losers led gainers by 351 to 281, while 268 counters traded unchanged. Volume was 604.26 million shares valued at RM486.15 million.

The ringgit weakened 0.01% to 3.0076 versus the US dollar; crude palm oil futures for the third month delivery rose RM30 per tonne to RM3,342, gold was up US$2.18 an ounce to US$1,508.43 while crude oil stood at US$112.29 per barrel as at close of yesterday.

At the regional markets, Japan's Nikkei 225 erased earlier losses and edged higher on Friday after news that Renesas Electronics would resume operations at a key auto-chip factory triggered buying of major automakers, according to Reuters.

Renesas , a major supplier of chips to the auto industry, said on Friday it would resume operation of a factory in Ibaraki prefecture on June 15, ahead of the previously scheduled target of July, it said.

The Nikkei 225 rose 0.20% to 9,705.51, Taiwan's Taiex was up 0.11% to 8,967.10 and South Korea's Kospi was flat at 2,198.51.

Meanwhile, the Shanghai Composite Index edged down 0.07% to 3,024.58.

Elsewhere, the Hong Kong, Singapore and Australian markets were closed for Good Friday, as would be Wall Street and most of the European indices later today.

On Bursa Malaysia, Jerneh shares and warrants fell on reports that the company was eyeing Sabah-based property developer Sagajuta (Sabah) Sdn Bhd, whose flagship project is the massive 1Borneo mixed development in Kota Kinabalu.

Both its shares and warrants fell 13 sen each to RM3.20 and RM1.60.

Other decliners this morning were F&N that lost 12 sen to RM16.60, Hong Leong Bank and Genting down 10 sen each to RM10.50 and RM11.48, United Malacca seven sen to RM6.90, Lysaght and Allianz fell six sen each to RM1.72 and RM5.26 while Rexit lost 5.5 sen to 32 sen.

Among the gainers, CBIP rose 27 sen to RM4.32, Tradewinds 26 sen to RM8.20, Far East 25 sen to RM7.30, DiGi 18 sen to RM29, JT International 17 sen to RM7.17, Ta Ann 15 sen to RM6.63, MBSB and KLK 12 sen each to RM2.53 and RM20.82, AIC 11 sen to RM1.20 while Shell was up eight sen to RM11.

AsiaBio was the most actively traded counter with 36.2 million shares done. The stock added one sen to 8 sen.

Other actives included MNC, Karambunai, Ramunia, Asia EP, Mobif, Time and Timecom.

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