KUALA LUMPUR: ''The FBM KLCI rose at the mid-day break on Monday, April 18, with Sarawak-based stocks advancing on Bursa Malaysia after Barisan Nasional retained its two-thirds majority in the state legislative assembly.
At 12.30pm, the FBM KLCI was up 0.53% or 8.02 points to 1,529.96, lifted by banking stocks and key blue chips. Gainers led losers by 452 to 186, while 222 counters traded unchanged. Volume was 533.88 million shares valued at RM638.41 million.
The ringgit weakened 0.01% to 3.0232 versus the US dollar; crude palm oil rose RM1 per tonne to RM3,234, crude oil fell 60 cents per barrel to US$109.06 while gold shed five cents an ounce to US$1,486.65.
Meanwhile, Asian stocks rose on Monday as investors bet that China's latest round of policy tightening won't dent prospects of a global economic recovery while the euro weakened on a broad wave of profit-taking, according to Reuters.
China on Sunday raised banks' reserve requirements for the fourth time this year. The move was not a surprise as market players had predicted more tightening after last week's data showed acceleration in inflation, it said.
At the regional markets, Japan's Nikkei 225 edged up 0.06% to 9,597.50, Hong Kong's Hang Seng Index added 0.16% to 24,045.35, the Shanghai Composite Index gained 0.27% to 3,058.83, Singapore's Straits Times Index rose 0.20% to 3,159.76 and Taiwan's Taiex edged up 0.02% to 8,720.12.
Meanwhile, South Korea's Kospi slipped 0.18% to 2,136.63.
On Bursa Malaysia, major gainers included Genting that rose 28 sen to RM11.08, Tenaga seven sen to RM6.08, Petronas Chemicals six sen to RM7.26, YTL Corp 22 sen to RM7.94, Gamuda 10 sen to RM3.79 and F&N 62 sen to RM16.90.
CIMB added seven sen to RM8.30, Public Bank and RHB Capital six sen each to RM13.10 and RM8.63, Hong Leong Bank 20 sen to RM10.50 and AMMB five sen to RM6.40.
The results of the weekend elections also gave a boost to Sarawak-based stocks, with Ta Ann up 28 sen to RM6.39, Jaya Tiasa 21 sen to RM6.50, HSL 13 sen to RM1.76, CMSB 11 sen to RM2.37, Subur Tiasa 10 sen to RM3.23, Naim Holdings nine sen to RM3.01 and Encorp 4.5 sen to 86.5 sen.
Radio frequency identification (RFID) solutions provider Smartag Solutions Bhd, which made its debut on Bursa Malaysia, was the most actively traded counter this morning. The stock rose 6.5 sen to 37.5 sen with 90.3 million shares done.
Decliners this morning included Panasonic, BAT, Aeon, Shell, Atlan, LPI Capital and EON Capital.
At 12.30pm, the FBM KLCI was up 0.53% or 8.02 points to 1,529.96, lifted by banking stocks and key blue chips. Gainers led losers by 452 to 186, while 222 counters traded unchanged. Volume was 533.88 million shares valued at RM638.41 million.
The ringgit weakened 0.01% to 3.0232 versus the US dollar; crude palm oil rose RM1 per tonne to RM3,234, crude oil fell 60 cents per barrel to US$109.06 while gold shed five cents an ounce to US$1,486.65.
Meanwhile, Asian stocks rose on Monday as investors bet that China's latest round of policy tightening won't dent prospects of a global economic recovery while the euro weakened on a broad wave of profit-taking, according to Reuters.
China on Sunday raised banks' reserve requirements for the fourth time this year. The move was not a surprise as market players had predicted more tightening after last week's data showed acceleration in inflation, it said.
At the regional markets, Japan's Nikkei 225 edged up 0.06% to 9,597.50, Hong Kong's Hang Seng Index added 0.16% to 24,045.35, the Shanghai Composite Index gained 0.27% to 3,058.83, Singapore's Straits Times Index rose 0.20% to 3,159.76 and Taiwan's Taiex edged up 0.02% to 8,720.12.
Meanwhile, South Korea's Kospi slipped 0.18% to 2,136.63.
On Bursa Malaysia, major gainers included Genting that rose 28 sen to RM11.08, Tenaga seven sen to RM6.08, Petronas Chemicals six sen to RM7.26, YTL Corp 22 sen to RM7.94, Gamuda 10 sen to RM3.79 and F&N 62 sen to RM16.90.
CIMB added seven sen to RM8.30, Public Bank and RHB Capital six sen each to RM13.10 and RM8.63, Hong Leong Bank 20 sen to RM10.50 and AMMB five sen to RM6.40.
The results of the weekend elections also gave a boost to Sarawak-based stocks, with Ta Ann up 28 sen to RM6.39, Jaya Tiasa 21 sen to RM6.50, HSL 13 sen to RM1.76, CMSB 11 sen to RM2.37, Subur Tiasa 10 sen to RM3.23, Naim Holdings nine sen to RM3.01 and Encorp 4.5 sen to 86.5 sen.
Radio frequency identification (RFID) solutions provider Smartag Solutions Bhd, which made its debut on Bursa Malaysia, was the most actively traded counter this morning. The stock rose 6.5 sen to 37.5 sen with 90.3 million shares done.
Decliners this morning included Panasonic, BAT, Aeon, Shell, Atlan, LPI Capital and EON Capital.
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