KUALA LUMPUR: The FBM KLCI managed to close on a positive note on buying of consumer stocks, banks and Genting on Wednesday, April 27 but the 1,530 resistance level proved too elusive.
The 30-stock index closed 2.57 points higher at 1,529.91 but off the day's best of 1,534 on mild profit taking activities. Turnover was 1.14 billion shares valued at RM1.43 billion.
The broader market was cautious, with 320 gainers to 454 losers while 309 stocks were unchanged.
Among key regional markets, Japan's Nikkei 225 rose 1.39% to 9,691.84 after a batch of Japanese and U.S. corporate earnings came in better than expected. Investors ignored the rating outlook downgrade.
Reuters reported Hong Kong shares closed near a session low on Wednesday, reversing earlier mild gains after a swoon by Shanghai's speculative B-share index of dollar-denominated stocks soured sentiment and hit the broader mainland market.
The Hang Seng Index fell 0.48 percent to 23,892.84 The China Enterprises Index closed down 0.78%. The Shanghai Composite Index also closed down 0.46% largely because of a 5.33% slide on the B-share index.
Brent crude oil edged above $124 a barrel on Wednesday as support from a weaker dollar ahead of a Federal Reserve meeting expected to maintain its loose monetary policy countered rising U.S. inventories, Reuters reported.
The dollar slid to a three-year low as investors bet the Fed meeting, which ends on Wednesday, would keep an easy policy, helping support dollar-denominated oil that has attracted investment as a hedge against inflation.
Brent crude for June rose 31 cents to $124.45 a barrel by 0910 GMT. On Tuesday, it gained 48 cents to settle at $124.14 a barrel, having bounced off a $122.78 low. U.S. crude was up 22 cents to $112.43.
At Bursa Malaysia, consumer stocks were among the gainers but in thin trade. Dutch Lady rose 32 sen to RM17.20, F&N 28 sen to RM17.30, Nestle 28 sen to RM48.28 while department store operator AEON rose 17 sen to RM6.17.
A positive outlook for GENTING BHD [] saw the share price climbing 16 sen to RM11.66. Hong Leong Financial Group was the best performer among the banking stocks, rising 23 sen to RM9.52.
DBE Gurney was the most active with 68.95 million shares done. It fell 1.5 sen to 9.5 sen.
Cepco was the top loser, down 40 sen to RM2.28, BAT shed 32 sen to RM47.28 and DiGi 16 sen to RM28.82.
HPI Resources extended its losses, down 21 sen to RM3.15.'' According to its recent financial results, its'' net profit for the third quarter ended Feb 28, 2011 soared 121.5% to RM6.94 million from RM3.13 million a year ago. Revenue for the quarter rose by 11.6% to RM105.43 million from RM94.46 million in 2010, while earnings per share were 12.43 sen. Net assets per share RM2.87
For the nine months ended Feb 28, 2011, HPI's net profit rose 32.2% to RM20.63 million on the back of revenue RM314.66 million.
Coastal Contracts closed off the day's low of RM3.59, ending the day eight sen lower at RM3.68.
The 30-stock index closed 2.57 points higher at 1,529.91 but off the day's best of 1,534 on mild profit taking activities. Turnover was 1.14 billion shares valued at RM1.43 billion.
The broader market was cautious, with 320 gainers to 454 losers while 309 stocks were unchanged.
Among key regional markets, Japan's Nikkei 225 rose 1.39% to 9,691.84 after a batch of Japanese and U.S. corporate earnings came in better than expected. Investors ignored the rating outlook downgrade.
Reuters reported Hong Kong shares closed near a session low on Wednesday, reversing earlier mild gains after a swoon by Shanghai's speculative B-share index of dollar-denominated stocks soured sentiment and hit the broader mainland market.
The Hang Seng Index fell 0.48 percent to 23,892.84 The China Enterprises Index closed down 0.78%. The Shanghai Composite Index also closed down 0.46% largely because of a 5.33% slide on the B-share index.
Brent crude oil edged above $124 a barrel on Wednesday as support from a weaker dollar ahead of a Federal Reserve meeting expected to maintain its loose monetary policy countered rising U.S. inventories, Reuters reported.
The dollar slid to a three-year low as investors bet the Fed meeting, which ends on Wednesday, would keep an easy policy, helping support dollar-denominated oil that has attracted investment as a hedge against inflation.
Brent crude for June rose 31 cents to $124.45 a barrel by 0910 GMT. On Tuesday, it gained 48 cents to settle at $124.14 a barrel, having bounced off a $122.78 low. U.S. crude was up 22 cents to $112.43.
At Bursa Malaysia, consumer stocks were among the gainers but in thin trade. Dutch Lady rose 32 sen to RM17.20, F&N 28 sen to RM17.30, Nestle 28 sen to RM48.28 while department store operator AEON rose 17 sen to RM6.17.
A positive outlook for GENTING BHD [] saw the share price climbing 16 sen to RM11.66. Hong Leong Financial Group was the best performer among the banking stocks, rising 23 sen to RM9.52.
DBE Gurney was the most active with 68.95 million shares done. It fell 1.5 sen to 9.5 sen.
Cepco was the top loser, down 40 sen to RM2.28, BAT shed 32 sen to RM47.28 and DiGi 16 sen to RM28.82.
HPI Resources extended its losses, down 21 sen to RM3.15.'' According to its recent financial results, its'' net profit for the third quarter ended Feb 28, 2011 soared 121.5% to RM6.94 million from RM3.13 million a year ago. Revenue for the quarter rose by 11.6% to RM105.43 million from RM94.46 million in 2010, while earnings per share were 12.43 sen. Net assets per share RM2.87
For the nine months ended Feb 28, 2011, HPI's net profit rose 32.2% to RM20.63 million on the back of revenue RM314.66 million.
Coastal Contracts closed off the day's low of RM3.59, ending the day eight sen lower at RM3.68.
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