Wednesday, September 7, 2011

KLCI stays in positive territory at mid-day, but volume remains thin

KUALA LUMPUR: The FBM KLCI stayed in positive territory at the mid-day break on Wednesday, Sept 7 as key regional markets advanced on bargain hunting activities.

Asian stocks rebounded on Wednesday after the latest market slide, while the euro edged up against the dollar as traders covered some bets against the common currency following a sharp overnight fall, according to Reuters.

Global equity markets had tumbled in recent days -- following a sharp slide in August -- on fears of renewed recession in the United States and Europe's worsening debt crisis, boosting "safe haven" assets such as gold and the Swiss franc, it said.

The FBM KLCI rose 5.88points to 1,460.25 at 12.30pm, lifted by gains at select blue chips.

Trading volume, however, remained thin with 238.13 million shares valued at RM436.84 million. Gainers edged losers by 250 to 224, while 285 counters traded unchanged.

The ringgit gained 0.03% to 2.9815 versus the US dollar; crude palm oil futures for the third month delivery rose RM35 per tonne to RM3,010, crude oil added 40 cents per barrel to US$86.42 while gold fell US$32.28 an ounce to US$1,843.13.

At the regional markets, Japan's Nikkei 225 rose 1.74% to 8,740.32, Hong Kong's Hang Seng Index added 1.20% to 19,947.37, the Shanghai Composite Index up 1.32% to 2,503.19, Taiwan's Taiex rose 1.73% to 7,494.28, South Korea's Kospi jumped 2.89% to 1,817.70 and Singapore's Straits Times Index gained 1.12% to 2,805.53.

Among the gainers this morning, Bintulu Port added 25 sen to RM6.90, Petronas Gas 24 sen to RM13.34, Bernas 21 sen to RM3.36, BAT 20 sen to RM43.70, Uzma 19 sen to RM1.88, KLK 18 sen to RM21.48, MNRB 17 sen to RM3.27, Petronas Dagangan 16 sen to RM17.76, Esso 15 sen to RM3.82 and Genting 13 sen to RM9.68.

Panasonic topped the losers and fell 60 sen to RM21.26; Perduren was down 24 sen to 76 sen, Cepco 14 sen to RM1.80, PacificMas 11 sen to RM3.40, Tradewinds PLANTATION []s nine sen to RM3.21, Allianz eight sen to RM4.70 and BHIC seven sen to RM2.88.

E&O was the most actively traded counter with 14.99 million shares done. The stock fell three sen to RM1.73.

Other actives included Takaso, Axiata, CIMB, Eden, Telekom, Tebrau, DVM and Timecom.

No comments:

Post a Comment