Thursday, July 7, 2011

Mild profit taking halts FBM KLCI's rise

KUALA LUMPUR: ''The FBM KLCI succumbed to some mild profit taking at the mid-day break on Thursday, July 7 as Japan's Nikkei 225 snapped its seven-day rally as investors began selling down on worries of an overheating market.

The FBM KLCI shed 0.04% or 0.63 point to 1,590.71, weighed by losses at select blue chips.

Gainers led losers by 325 to 279, while 319 counters traded unchanged. Volume was 721.66 million shares valued at RM920.12 million.

The ringgit strengthened 0.11% to 3.0078 versus the US dollar; crude palm oil futures for the third month delivery rose RM7 per tonne to RM3,035, crude oil gained 73 cents per barrel to US$97.38 while gold added US$2.45 an ounce to US$1,531.35.

At the regional markets, Japan's Nikkei 255 fell 0.19% to 10,063.72 and Taiwan's Taiex lost 0.65% to 8,767.12.

Elsewhere, Hong Kong's Hang Seng rose 0.66% to 22,666.14, the Shanghai Composite Index up 0.24% to 2,817.32, South Korea's Kospi gained 0.40% to 2,179.90 and Singapore's Straits Times Index up 0.54% to 3,131.59.

Among the losers, MMHE fell nine sen to RM8.58, MISC eight sen to RM7.50, Petronas Chemicals six sen to RM7.13, IOI Corp five sen to RM5.30, Hong Leong Bank four sen to RM13.72, while YTL, Petronas Gas, Petronas Dagangan and RHB Capital fell two sen each to RM1.55, RM13.44, RM17.14 and RM9.09 respectively.

Other decliners included Nestle, Cepco, Sindora, GAB, KYM, Sunway City and Shell.

Among the gainers, AFG rose 25 sen to RM3.68, DiGi 20 sen to RM29.96, Malayan Flour Mills 17 sen to RM8.43, MPI and UOA Development 13 sen each to RM4.50 and RM2.22, while Ibraco, Genting PLANTATION []s and APM Automotive added 12 sen each to RM1.12, RM7.99 and RM4.99 respectively.

The actives included Flonic, KBB, Timecom, AFG, MSM warrants and Time warrants.

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