Tuesday, October 25, 2011

Banks lead KLCI higher in early trade

KUALA LUMPUR: Banks led the FBM KLCI up in early trade on Tuesday, Oct 25 but in relatively thin volume ahead of the holidays on Wednesday.

At 9.16am, the KLCI was up 5.27 points to 1,455.29. Turnover was 82.41 million shares valued at only RM42.09 million. Gainers beat losers three to one with 160 advancers to 58 decliners.

Hwang DBS Vickers Research said that taking cue from the gains on Wall Street and European markets, the KLCI would probably extend its recovery.

'Nevertheless, the key barometer is unlikely to break through the immediate resistance hurdle of 1,475 anytime soon,' it said.

Maybank rose seven sen to RM8.32, Affin six sen to RM2.95 and HL Bank six sen to RM10.42.

Among PLANTATION []s, KLK rose 12 sen to RM20.70 and IOI Corp seven sen to RM5.10. Other gainers were PacMas, up 12 sen to RM3.70, F&N and DiGi 10 sen each to RM16.20 and RM31.68.

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