Wednesday, September 28, 2011

Muted gains on KLCI at mid-day

KUALA LUMPUR: Gains on the FBM KLCI were muted at the mid-day break on Wednesday, Sept 28 in line with the cautious trading sentiment at key regional markets, as investors remain wary of the global economic outlook, in particular the eurozone debt crisis.

Greece faced a new test in its attempt to avoid bankruptcy on Wednesday as international auditors headed for Athens, while Germany suggested a new bailout may be renegotiated as argument rages over whether private creditors should take bigger losses, according to Reuters.

The FBM KLCI edged up 0.27% or 3.63 points to 1,367.83 at the mid-day break, lifted by gains at select blue chips.

Gainers led losers by 314 to 253, while 251 counters traded unchanged. Volume was 468.50 million shares valued at RM700.15 million.

The ringgit fell 0.59% to 3.1662 versus the US dollar; crude palm oil futures for the third month delivery fell RM42 per tonne to RM2,906, crude oil shed US$1.21 per barrel to US$83.24 while gold lost US$5.53 an ounce to US$1,644.60.

At the regional markets, Japan's Nikkei was up 0.02% to 8,611.59, the Shanghai Composite Index edged up 0.18% to 2,419.39, Taiwan's Taiex rose 0.37% to 7,116.48 and South Korea's Kospi added 0.19% to 1,738.95.

Meanwhile, Hong Kong's Hang Seng Index fell 0.90% to 17,967.31 and Singapore's Straits Times Index lost 0.68% to 2,707.47.

Among the gainers on Bursa Malaysia, DiGi rose 52 sen to RM30.52, United PLANTATION []s 48 sen to RM17.48, KLK 32 sen to RM20.72, IJM Corp 29 sen to RM5, Shell 25 sen to RM9.70, Tradewinds 22 sen to RM7.76, Lay Horng 19 sen to RM1/78. Jaya Tiasa 17 sen to RM5.10, while Bursa Malaysia and Genting Malaysia rose 15 sen each to RM6.06 and RM3.39.

GPRO was the most actively traded counter with 18.8 million shares done. The stock edged up half a sen to 14 sen.

Other actives included Asia EP, HWGB, MRCB, UEM Land, AirAsia, Takaso and Systech.

Decliners this morning included Cepco, Public Bank, Perstima, Petronas Gas and Petronas Chemicals.

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