Thursday, April 21, 2011

Mild profit taking chips away FBM KLCI's early gains

KUALA LUMPUR: The FBM KLCI gave up its gains from early trade and slipped into negative territory at the mid-day break on Thursday, April 21, weighed by some mild profit taking of blue chip stocks.

Regional markets, however, mostly advanced following the firmer overnight close at Wall Street on the back of strong earnings by Apple, Intel and United Technologies.

At 12.30pm, the 30-stock index shed 0.05% or 0.84 point to 1,530.18, with losses including at IOI Corp, Tenaga, UMW and CIMB. Gainers led losers by 361 to 290, while 317 counters traded unchanged. Volume was 813.84 million shares valued at RM686.61 million.

The ringgit strengthened 0.1% to 3.0126; crude palm oil for the third month delivery rose RM3 per tonne to RM3,318, crude oil added 52 cents per barrel to US$111.97 while gold gained US$2.73 to US$1,505.28.

At the regional markets, Japan's Nikkei 225 was up 0.55% to 9,659.89, Hong Kong's Hang Seng Index added 0.85% to 24,099.13, the Shanghai Composite Index rose 0.69% to 3,027.64, Taiwan's Taiex gained 1.80% to 8,971.94, South Korea's Kospi was up 1.17% to 2,195.27 and Singapore's Straits Times Index rose 0.96% to 3,196.21.

On Bursa Malaysia, among the key blue chips, IOI Corp, Tenaga, CIMB and PLUS fell two sen each to RM5.39, RM6.09, RM8.25 and RM4.45 respectively; UMW lost nine sen to RM7.10, while Genting Malaysia, Petronas Chemicals and YTL Corp fell three sen each to RM3.67, RM7.30 and RM7.82 respectively.

Visdynamics fell 27 sen to 26 sen, Kluang and Kian Joo 10 sen each to RM2.70 and RM2.28, Bursa lost nine sen to RM8.02, Coastal Contracts seven sen to RM3.68 and GAB fell six sen to RM9.94.

Timber-related stocks advanced this morning, with Ta Ann up 35 sen to RM6.58, Subur Tiasa 20 sen to RM3.28, Jaya Tiasa 13 sen to RM6.34, WTK and Lingui up nine sen each to RM1.96 and RM1.94, while Leweko added three sen to 25 sen.

Other gainers included Tricubes, MMHE, Guan Chong, Genting, BAT, Carlsberg and Vitrox.

Asia Media was the most actively traded counter with 54.26 million shares done. The stock added three sen to 33 sen.

Other actives included Tricubes, Seal, DBE Gurney, Technodex, Connectcounty, Leweko and Smartag.

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