Friday, August 12, 2011

Limited gains at mid-day

KUALA LUMPUR: The FBM KLCI remained in positive territory at the mid-day break on Friday, Aug 12 but gains were limited as overall sentiment at some of the regional markets turned tepid with the Nikkei slipping into the red.

Asian markets initially rose today as investors picked up battered stocks in bargain hunting after the overnight rally at Wall Street.

Wall Street rose 4% overnight on high trading volume, with relatively low valuations and short-term oversold conditions attracting buyers, though a slide in US stock futures in early Asian trade kept the region's climb modest, according to Reuters.

On Bursa Malaysia, the FBM KLCI was up 7.70 points to 1,484.16 at the mid-day break, lifted by gains at selected blue chips. Gainers led losers by 458 to 199, while 267 counters traded unchanged. Volume was 648.69 million shares valued at RM922.72 million.

The ringgit weakened 0.03% to 2.9980 versus the US dollar; crude palm oil futures for the third month delivery rose RM25 per tonne to RM2,988, crude oil fell 73 cents per barrel to US$84.99 while gold eased 35 cents an ounce to US$1,763.75.

At the regional markets, Japan's Nikkei 225 was down 0.25% to 8,959.60, Taiwan's Taiex shed 0.04% to 7,716.27 and South Korea's Kospi edged down 0.16% to 1,814.54.

Meanwhile, Hong Kong's Hang Seng Index gained 1.11% to 19,812.02, the Shanghai Composite Index added 0.52% to 2,595.04 and Singapore's Straits Times Index rose 1.34% to 2,833.59.

Petronas Dagangan was the top gainer this morning and was up 26 sen to RM16.80; Batu Kawan added 22 sen to RM15.58, MSC 18 sen to RM4.54, Fima Corp, BLD PLANTATION []s and Petronas Chemicals rose 16 sen each to RM5.56, RM6.61 and RM6.31 respectively, UMS and Carlsberg up 13 sen each to RM1.70 and RM6.91, while YTL Cement and KrisAssets added 12 sen each to RM4.76 and RM4.06.

Lafarge Malayan Cement was the top loser and fell 19 sen to RM6.81, Knusford 12 sen to RM1.52, APM Automotive 10 sen to RM4.70, Litrak and To Glove nine sen each to RM3.54 and RM5.21, Shell and Ann Joo each to RM10.02 and RM2.52, while KYM lost seven sen to RM1.80.

The actives included Dutaland, AirAsia, MAS, Axiata and HWGB.

No comments:

Post a Comment