Tuesday, September 27, 2011

KLCI up 1.62% at mid-day break

KUALA LUMPUR: The FBM KLCI rose 1.62% at the mid-day break on Tuesday, Sept 27 in line with the rebound at key regional markets, lifted by gains at key blue chips that were battered over the past three trading days.

Asian shares rebounded and the euro clung to gains on Tuesday on hopes that euro zone officials will act to corral Greece's debt woes and prevent another full-blown banking crisis, according to Reuters.

Financial stocks and global miners were among those to rebound strongly, although some market players cautioned against undue optimism, it said.

At 12.30pm, the FBM KLCI was up 21.63 points to 1,353.43, lifted by gains at Maybank, Genting and KLK. Gainers led losers by 474 to 186, while 221 counters were unchanged. Volume was 406.48 million shares valued at RM669.72 million.

The ringgit strengthened 0.80% to 3.1552 versus the US dollar; crude palm oil futures for the third month delivery added RM2 per tonne to RM2,907, crude oil rose US$1.35 per barrel to US$81.59 while gold jumped US$12.43 an ounce to US$1,638.78.

At the regional markets, Hong Kong's Hang Seng Index rose 2.4% to 17,826.25, Japan's Nikkei 225 added 1.8% to 8,524.86, Taiwan's Taiex was up 2.64% to 7,058.62, South Korea's Kospi gained 3.61% to 1,712.37, Singapore's Straits Times Index added 1.44% to 2,692.40 and the Shanghai Composite Index edged up 0.30% to 2,400.41.

Among the gainers on'' Bursa Malaysia, KLK rose 34 sen to RM19.90, Maybank 32 sen to RM7.83, Genting and Parkson 24 sen each to RM8.78 and RM5.32, HLFG and PPB 24 sen each to RM10.24 and RM16.02, IJM 22 sen to RM4.60, AMMB 21 sen to RM5.59, Ajinomoto 20 sen to RM3.68 and Malayan Flour Mills 18 sen to RM6.50.

Tiger was the most actively traded counter with 14.21 million shares done. The stock added one sen to 12 sen.

Other actives included SAAG, GPRO, UEM Land, Flonic, Petronas Chemicals, Timecom, Maybank, AirAsia and MRCB.

Among the losers, BAT fell 60 sen to RM44, Nestle 40 sen to RM47, Kluang 28 sen to RM2.20, MAHB 16 sen to RM5.26, Southern Steel 15 sen to RM2.01, Shell 10 sen to RM9.50, UMS nine sen to RM1.48 while Teck Guan lost eight sen to 70 sen.

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