Tuesday, June 14, 2011

FBM KLCI stages mild rebound to close higher

KUALA LUMPUR: The FBM KLCI staged a mild rebound in line with most key regional markets to close higher on Tuesday, June 14.

Most Asian markets closed higher while European markets opened in positive territory after a slew of data from China indicated that the world's second largest economy was not slowing down as had been feared.

However, Hong Kong stocks declined after China's central bank increased the reserve requirement ratio for its commercial lenders by another 50 basis points on, its sixth increase this year, extending its campaign to tame 34-month high inflation.

At 5pm, the 30-stock index was up 0.17% or 2.63 points to 1,548.51, lifted by gains at select blue chips.

Gainers overtook losers by 388 to 331, while 329 counters traded unchanged. Volume was 737.88 million shares valued at RM1.21 billion.

At the regional markets, Japan's Nikkei 225 rose 1.05% to 9,547.79, the Shanghai Composite Index gained 1.10% to 2,730.04, Taiwan's Taiex added 1.33% to 8,829.21 and South Korea's Kospi was up 1.37% to 2,076.83.

Meanwhile, Hong Kong's Hang Seng Index and Singapore's Straits Times Index shed 0.05% each to 22,496.00 and 3,057.39 respectively.

On Bursa Malaysia, Petronas Gas added 16 sen to RM12.12, MISC 15 sen to RM7.11, Petronas Dagangan gained 10 sen to RM16, KLK was up six sen to RM22, while Axiata, UMW and IOI Corp rose five sen each to RM4.89, RM7.20 and RM5.29 respectively.

Sunway City rose 48 sen to RM5.52, Dutch Lady added 24 sen to RM18.20, Favelle Favco 21 sen to RM1.64, Sunway 18 sen to RM2.74, APM Automotive 17 sen to RM4.85 and Paramount 12 sen to RM5.79.

United U-Li was the most actively traded counter with 34.4 million shares done. The stock was unchanged at RM1.25.

Other actives included Focus, Axiata, KNM, Asia Media, CBSA, Compugates and Smartag.

Among the decliners, United PLANTATION []s fell 50 sen to RM20, DiGi lost 26 sen to RM28.66, Malayan Flour Mills 23 sen to RM7.58, Golsta 15 sen to 35 sen, Hong Leong Industries 13 sen to RM3.86, Top Glove 11 sen to RM5.16, while Shell, Tasek and BLD Plantations lost 10 sen each to RM10.60, RM7.90 and RM6.80 respectively.

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