Wednesday, July 20, 2011

FBM KLCI stays in black at mid-day, CIMB rebounds

KUALA LUMPUR: The FBM KLCI remained in positive territory at the mid-day break on Wednesday, July 20 while most key regional markets consolidated their gains as TECHNOLOGY []-related stocks advanced on the back of encouraging quarterly numbers from Apple Inc and International Business Machines.

The local index also received a boost from a resurgent CIMB that advanced after CIMB Thai Bank Public Company Ltd posted net profit of 536.4 million baht (RM54 million) in the first half ended June 30, 2011.

CIMB had been on the decline since last week on reports that the central bank of Indonesia could introduce a cap on foreign ownership in local banks later this year.

The FBM KLCI rose 7.12 points to 1,562.76 at the mid-day break. Gainers led losers by 396 to 209, while 279 counters traded unchanged. Volume was 414.43 million shares valued at RM582.98 million.

The ringgit strengthened 0.16% to 3.0012 versus the US dollar; crude palm oil futures rose RM24 per tonne to RM3,131, crude oil added 67 cents per barrel to US$98.17 while gold rose US$2.60 an ounce to US$1,591.05.

At the regional markets, Japan's Nikkei 225 rose 1.19% to 10,006.99, Taiwan's Taiex jumped 1.49% to 8,651.77, South Korea's Kospi up 1.12% to 2,154.17, Singapore's Straits Times Index added 0.48% to 3,111.06, Hong Kong's Hang Seng Index edged up 0.10% to 21,924.34 while the Shanghai Composite Index shed 0.41% to 2,785.62.

On Bursa Malaysia, Mah Sing was the top gainer this morning and gained 27 sen to RM2.49; Petronas Dagangan added 22 sen to RM18.02, Fima Corp 20 sen to RM6.25, Sindora 18 sen to RM2.71, Tradewinds 16 sen to RM9.90, PPB 14 sen to RM17.52, Hartalega and DiGi 12 sen each to RM5.60 and RM29.82 and Dialog 11 sen.

Among banking stocks, CIMB added 10 sen to RM8.44, AMMB , HLFG and Public Bank eight sen each to RM6.43, RM13.38 and 13.38 respectively, Maybank six sen to RM8.80 and RHB Capital two sen to RM9.

SAAG was the most actively traded counter with 18.83 million shares done. The stock was unchanged at 7 sen.

Other actives included DVM, Inari, Flonic, Ingenuity Solutions, Mah Sing, Wijaya and Kurnia Asia.

Decliners meanwhile included BAT, MAHB, NSOP, Genting and Widetech.

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