KUALA LUMPUR: The FBM KLCI clawed back to erase its losses from earlier in the day on Thursday, June 2 and closed in positive territory as investors lapped up select blue chips that had been battered over the last two trading days.
Investor sentiment also somewhat perked up after Japanese Prime Minister Naoto Kan survived a no-confidence vote by offering to resign once he has overcome the worst of the country's nuclear crisis.
Kan's offer to step down, probably in the autumn, buys him time to prepare an extra budget to fund the rebuilding cost of the March 11 earthquake and tsunami, but it does nothing to resolve the country's political and policy paralysis, according to Reuters.
But the outlook for global equity remains gloomy as Moody's Investors Services said Greece had a 50% chance of defaulting on its debts.
The FBM KLCI rose 1.62 points to close at 1,558.04, lifted by gains including at Genting, Petronas Gas, HLFG and Hong Leong Bank.
Gainers however trailed losers by 250 to 459, while 338 counters traded unchanged. Volume was 716.73 million shares valued at RM1.48 billion.
BAT was the top gainer and rose 64 sen to RM47.92; Petronas Gas added 60 sen to RM11.98, DiGi 22 sen to RM28.82, Hong Leong Bank 16 sen to RM12.50, HLFG and Genting 14 sen each to RM12.06 and RM11.10, while Kossan and Lafarge Malayan Cement gained 13 sen each to RM3.15 and RM7.49.
KNM was the most actively traded counter with 26 million shares done. The stock fell seven sen to RM2.01.
Other actives included HWGB, Axiata, BIMB, Maybank, MAS and Dialog.
Among the decliners, Tradewinds fell 30 sen to RM8.80, Metrod down 24 sen to RM3.56, KLK 20 sen to RM22, NPC 15 sen to RM2.10, Malayan Flour Mills 15 sen to RM7.85, Dutch Lady and Esso 14 sen each to RM18.18 and RM5.10, Top Glove 13 sen to RM5.20 and Tenaga fell 11 sen to RM6.99.
At the regional markets, Japan's Nikkei 225 fell 1.69% to 9,555.04, Hong Kong's Hang Seng Index lost 1.58% to 23,253.84, the Shanghai Composite Index was down 1.40% to 2,705.18, South Kospi lost 1.27% to 2,114.20, Taiwan's Taiex shed 0.78% to 8,991.36 and Singapore's Straits Times Index edged down 0.39% to 3,160.60.
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Investor sentiment also somewhat perked up after Japanese Prime Minister Naoto Kan survived a no-confidence vote by offering to resign once he has overcome the worst of the country's nuclear crisis.
Kan's offer to step down, probably in the autumn, buys him time to prepare an extra budget to fund the rebuilding cost of the March 11 earthquake and tsunami, but it does nothing to resolve the country's political and policy paralysis, according to Reuters.
But the outlook for global equity remains gloomy as Moody's Investors Services said Greece had a 50% chance of defaulting on its debts.
The FBM KLCI rose 1.62 points to close at 1,558.04, lifted by gains including at Genting, Petronas Gas, HLFG and Hong Leong Bank.
Gainers however trailed losers by 250 to 459, while 338 counters traded unchanged. Volume was 716.73 million shares valued at RM1.48 billion.
BAT was the top gainer and rose 64 sen to RM47.92; Petronas Gas added 60 sen to RM11.98, DiGi 22 sen to RM28.82, Hong Leong Bank 16 sen to RM12.50, HLFG and Genting 14 sen each to RM12.06 and RM11.10, while Kossan and Lafarge Malayan Cement gained 13 sen each to RM3.15 and RM7.49.
KNM was the most actively traded counter with 26 million shares done. The stock fell seven sen to RM2.01.
Other actives included HWGB, Axiata, BIMB, Maybank, MAS and Dialog.
Among the decliners, Tradewinds fell 30 sen to RM8.80, Metrod down 24 sen to RM3.56, KLK 20 sen to RM22, NPC 15 sen to RM2.10, Malayan Flour Mills 15 sen to RM7.85, Dutch Lady and Esso 14 sen each to RM18.18 and RM5.10, Top Glove 13 sen to RM5.20 and Tenaga fell 11 sen to RM6.99.
At the regional markets, Japan's Nikkei 225 fell 1.69% to 9,555.04, Hong Kong's Hang Seng Index lost 1.58% to 23,253.84, the Shanghai Composite Index was down 1.40% to 2,705.18, South Kospi lost 1.27% to 2,114.20, Taiwan's Taiex shed 0.78% to 8,991.36 and Singapore's Straits Times Index edged down 0.39% to 3,160.60.
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