KUALA LUMPUR:'' Shares of the Lion group of companies were in focus on Wednesday, June 22 after Bloomberg reported that Baosteel Group Corp was in talks to buy a stake in Lion Group's Amsteel Mills Bhd for about US$1 billion.
Citing people with knowledge of the matter, Bloomberg said the size of the holding in Amsteel to be sold was yet to be determined. ''Baosteel is China's second-largest steelmaker.
Lion Industries Corp shares jumped 24 sen to RM1.87, Lion Diversified was up six sen to 44 sen and Lion Corporation added five sen to 30 sen.
The FBM KLCI closed firmly above the 1,560-point level, 22 lifted by gains at banking and select blue chip stocks.
At 5pm, the 30-stock index rose 0.42% or 6.56 points to 1,567.35.
Gainers trailed losers by 362 to 383, while 327 counters traded unchanged. Volume was 847.12 million shares valued at RM1.52 billion.
On Bursa Malaysia, BAT was the top gainer and added 40 sen to RM46.20; Genting rose 30 sen to RM11.20, MSC 23 sen to RM4.62, Tan Chong and Jaya Tiasa 21 sen each to RM4.75 and RM7.11, Panasonic 18 sen to RM24.96, MISC 15 sen to RM7.38, Perak Corp 14 sen to RM1.44, Petronas Dagangan six sen to RM15.86 and MMHE three sen to RM8.34.
Among banking stocks, HLFG added 28 sen to RM13.48, CIMB six sen to RM8.55, Hong Leong Bank four sen to RM13.34 while RHB Capital rose two sen to RM9.60.
Among the decliners, United PLANTATION []s fell 40 sen to RM20, MPI lost 27 sen to RM4.63, Tasek 20 sen to RM7.90, Fima Corp 14 sen to RM6.13, Favelle Favco 12 sen to RM1.48 while Nestle, Cepco and Shell lost 10 sen each to RM10.40.
KBB was the most actively traded counter with 50.2 million shares done. The stock was unchanged at 37 sen.
Other actives included Lion Corp, Compugates, HWGB, Focus, Ingenuity Solutions, Silver Bird, Axiata and AirAsia.
At the regional markets, Japan's Nikkei 225 rose 1.79% to 9,629.43, South Korea's Kospi added 0.77% to 2,063.90, Taiwan's Taiex was up 0.27% to 8,621.04, the Shanghai Composite Index advanced 0.11% to 2,649.32 and Hong Kong's Hang Seng edged up 0.04% to 21,859.97.
Meanwhile, Singapore's Straits Times Index fell 0.35% to 3,042.83.
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Citing people with knowledge of the matter, Bloomberg said the size of the holding in Amsteel to be sold was yet to be determined. ''Baosteel is China's second-largest steelmaker.
Lion Industries Corp shares jumped 24 sen to RM1.87, Lion Diversified was up six sen to 44 sen and Lion Corporation added five sen to 30 sen.
The FBM KLCI closed firmly above the 1,560-point level, 22 lifted by gains at banking and select blue chip stocks.
At 5pm, the 30-stock index rose 0.42% or 6.56 points to 1,567.35.
Gainers trailed losers by 362 to 383, while 327 counters traded unchanged. Volume was 847.12 million shares valued at RM1.52 billion.
On Bursa Malaysia, BAT was the top gainer and added 40 sen to RM46.20; Genting rose 30 sen to RM11.20, MSC 23 sen to RM4.62, Tan Chong and Jaya Tiasa 21 sen each to RM4.75 and RM7.11, Panasonic 18 sen to RM24.96, MISC 15 sen to RM7.38, Perak Corp 14 sen to RM1.44, Petronas Dagangan six sen to RM15.86 and MMHE three sen to RM8.34.
Among banking stocks, HLFG added 28 sen to RM13.48, CIMB six sen to RM8.55, Hong Leong Bank four sen to RM13.34 while RHB Capital rose two sen to RM9.60.
Among the decliners, United PLANTATION []s fell 40 sen to RM20, MPI lost 27 sen to RM4.63, Tasek 20 sen to RM7.90, Fima Corp 14 sen to RM6.13, Favelle Favco 12 sen to RM1.48 while Nestle, Cepco and Shell lost 10 sen each to RM10.40.
KBB was the most actively traded counter with 50.2 million shares done. The stock was unchanged at 37 sen.
Other actives included Lion Corp, Compugates, HWGB, Focus, Ingenuity Solutions, Silver Bird, Axiata and AirAsia.
At the regional markets, Japan's Nikkei 225 rose 1.79% to 9,629.43, South Korea's Kospi added 0.77% to 2,063.90, Taiwan's Taiex was up 0.27% to 8,621.04, the Shanghai Composite Index advanced 0.11% to 2,649.32 and Hong Kong's Hang Seng edged up 0.04% to 21,859.97.
Meanwhile, Singapore's Straits Times Index fell 0.35% to 3,042.83.
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