Thursday, August 4, 2011

KLCI hovers above 1,550 level mid-day

KUALA LUMPUR: The FBM KLCI stayed above the 1,550 level at the mid-day break on Thursday, Aug 4 as most key regional markets gave up some of their earlier gains.

Worries of a global economic slowdown appeared to overshadow efforts by Japanese authorities earlier in the day to intervene, as repeated yen selling by the Bank of Japan had initially buoyed shares of Japanese exporters, as well as those in the regional markets.

At 12.30pm, the FBM KLCI was up 0.42% or 6.44 points to 1,551.54, coming off slightly from its intra-morning high of 1,552.91. Gainers led losers by 367 to 261, while 310 counters traded unchanged. Volume was 639.40 million shares valued at RM670.69 million.

The ringgit weakened 0.07% to 2,9746; crude palm oil futures for the third month delivery fell RM22 per tonne to RM3,109, crude oil added 16 cents a barrel to US$92.09 and gold rose US$2.70 an ounce to US$1,664.45.

At the regional markets, Japan's Nikkei 225 was up 0.79% to 9,713.27 and the Shanghai Composite Index added 0.33% to 2,687.42.

Elsewhere, Hong Kong's Hang Seng Index lost 0.13% to 21,964.94, Taiwan's Taiex fell 0.94% to 8,377.39, South Korea's Kospi down 0.53% to 2,055.29 and'' Singapore's Straits Times Index shed 0.25% to 3,122.44.

On Bursa Malaysia, Nestle rose 32 sen to RM47.76, BAT gained 22 sen to RM46.46, United PLANTATION []s 20 sen to RM20.80, Hong Leong Bank 18 sen to RM13.66, PPB 16 sen to RM17.36, BRDB and GAB 14 sen each to RM2.17 and RM10.84, while UM Land and MNRB added 13 sen each to RM1.98 and RM3.26.

Sanichi, in which Datuk Md Wira Dani Abdul Daim, son of former finance minister Tun Daim Zainuddin, surfaced as a new substantial shareholder of ACE Market-listed SANICHI TECHNOLOGY [] BHD [], was the most actively traded counter.

The stock rose half a sen to 10 sen with 43.14 million.

Other actives included MBSB shares and warrants, DVM, Iris, Ramunia and Karambunai.

Decliners included Khind, YTL Cement, Stone Master and Careplus.

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