Tuesday, September 27, 2011

KLCI bounces 2.43% on bargain hunting of blue chips

KUALA LUMPUR: The FBM KLCI rebounded on Tuesday, Sept 26 and snapped its three-day losing streak as regional markets rose on expectations that European policymakers would undertake measures to contain the eurozone debt crisis.

The FBM KLCI bounced 2.43% or 32.40 points to 1,364.20 as investors lapped up banking and key blue chip stocks that had been battered over the past week

Gainers beat losers by 658 to 162, while 223 counters traded unchanged. Volume was 908.81 million shares valued at RM1.59 billion.

At the regional markets, Hong Kong's Hang Seng Index jumped 4.15% to 18,130.55, South Korea's Kospi surged 5.02% to 1,735.71, Taiwan's Taiex rose 3.09% to 7,089.95, Japan's Nikkei 225 gained 2.82% to 8,609.95, Singapore's Straits Times Index up 2.7% to 2,725.91 and the Shanghai Composite Index edged up 0.91% to 2,415.05.

On Bursa Malaysia, Public Bank and AMMB added 38 sen each to RM12.20 and RM5.76, Maybank 36 sen to RM7.87, HLFG 30 sen to RM10.30 and CIMB 24 sen to RM6.94.

Other gainers included KLK that jumped 84 sen to RM20.40, DiGi 62 sen to RM30, Genting 41 sen to RM8.95, Petronas Chemicals 24 sen to RM5.55 and MISC 15 sen to RM5.80.

Among the decliners, BATfell 58 sen to RM44.02, Southern Steel down 18 sen to RM1.98, Shell 15 sen to RM9.45, Teck Guan and Nestle down 10 sen each to 68 sen and RM47.30, while Industronics and Kluang fell nine sen each to 49 sen and RM2.39.

Meanwhile, the actives included GPRO, UEM Land, Flonic, AirAsia, Tiger, Petronas Chemicals, SAAG, MRCB and Timecome.

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