Thursday, September 29, 2011

Genting, Tenaga lift KLCI at mid-day

KUALA LUMPUR: The FBM KLCI reversed its earlier losses and was back in positive territory at the mid-day break on Thursday, Sept 29, lifted by gains at select blue chips including Genting and Tenaga.

The 30-stock index rose 6.27 points to 1,377.82 at 12.30pm. Market breadth however remained weaker with losers leading gainers by 293 to 258, while 223 counters traded unchanged.

Volume was 409.28 million shares valued at RM534.59 million.

The ringgit weakened 0.59% to 3.1838 versus the US dollar; crude palm oil futures for the third month delivery fell RM39 per tonne to RM2,871, crude oil shed four cents to US$81.17 while gold rose US$9.07 an ounce to US$1,617.88.

At the regional markets, Japan's Nikkei 225 edged up 0.17% to 8,630.34, Taiwan's Taiex gained 0.81% to 7,205.13 and South Korea's Kospi rose 1.65% to 1,751.59.

The Shanghai Composite Index fell 0.83% to 2,372.31 and Singapore's Straits Times Index shed 0.23% to 2,695.00.

Meanwhile, the Hong Kong stock market was closed this morning as typhoon Nesat made its way past the island country en route to south China.

On Bursa Malaysia, SP Setia shares and warrants rose in active trade near the offer prices put forward by Permodalan Nasional Bhd (PNB) in its conditional takeover, despite an outright rejection by the property developer's board.

SP Setia jumped 37 sen to RM3.87 while its warrants gained 30 sen per unit to 76 sen.

Other gainers included Far East that rose 25 sen to RM6.95, HLFG 22 sen to RM10.78, UMW 21 sen to RM6.91, BAT 20 sen to RM44.80, Genting 17 sen to RM9.13, Jaya Tiasa 15 sen to RM5.20 and Tenaga 12 sen to RM5.16.

Compugates was the most actively traded counter with 59.2 million shares done. The stock added half a sen to 6.5 sen.

Other actives included CIMB, SP Setia, UEM Land, HWGB, Karambunai and Asia EP.

Decliners included HELP, Cepco, Nestle, Batu Kawan, CIMB, KLK, Suria and Boustead.

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