Thursday, August 25, 2011

Mild profit taking chips off KLCI's gains

KUALA LUMPUR: ''The FBM KLCI managed to remain in positive territory at the mid-day break on Thursday, Aug 25 as mild profit taking chipped off its earlier gains, while most key regional markets rose following the higher overnight close at Wall Street.

Investors at the local bourse appear to be content to remain on sidelines ahead of more corporate earnings to be announced later today, as well the impending holiday-shortened week ahead.

Maxis Bhd reported a 3.57% increase in its 2Q net profit to RM551 million from RM532 million a year earlier, and declared a second interim dividend of eight sen per share.

The FBM KLCI was up a marginal 0.05 point to 1,469.20 at the mid-day break.

The broader market turned negative with 329 losers, 196 gainers and 271 counters unchanged. Volume was 372.11 million shares valued at RM811.93 million.

The ringgit weakened 0.09% to 2.9811 versus the US dollar; crude palm oil futures for the third month delivery fell RM9 per tonne, crude oil eased 19 cents per barrel to US$84.97 while gold fell US$5.63 to US$1,753.70.

At the regional markets, Japan's Nikkei 225 rose 1.94% to 8,807.56, Hong Kong's Hang Seng Index up 1.55% to 19,.767.62, the Shanghai Composite Index added 1.72% to 2,584.86, South Korea's Kospi gained 1.64% to 1,783.48 and Singapore's Straits Times Index rose 1.49% to 2,760.56.

Meanwhile, Taiwan's Taiex edged down 0.75% to 7,446.52.

On Bursa Malaysia, BAT was the top gainer this morning and rose RM1 to RM44.50; DiGi added 34 sen to RM30.28, Genting 21 sen to RM9.73, PPB 20 sen to RM17.08, IOI Corp 13 sen to RM4.80, Telekom 12 sen to RM4.30, EPIC, Kamdar and Bernas added 11 sen each to RM3.04. 43.5 sen and RM2.91, while Petronas Dagangan added 10 sen to RM17.30.

CIMB was the most actively traded counter with 29 million shares done. The stock fell 25 sen to RM7.35.

Other actives included Axiata, Telekom, HWGB, MUI, Maybank and E&O.

Among the losers, RHB Capital fell 32 sen to RM8.58, F&N 30 sen to RM16.52, Axiata 18 sen to RM4.67, Aeon Credit 11 sen to RM4.55 while Panasonic dropped eight sen to RM22.96.







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