Tuesday, October 11, 2011

KLCI closes 1.06% higher, European markets slip in early trade

KUALA LUMPUR: The FBM KLCI rebounded to close higher on Tuesday, Oct 11 as key regional markets also ended the day in positive territory following the upbeat overnight close at Wall Street.

However, European shares fell on Tuesday morning, snapping a four-day rally, in cautious trading ahead of a vote in Slovakia on extending the euro zone rescue fund, and the start of U.S. earnings season, according to Reuters.

The FBM KLCI rose 14.61 points to 1,411.65, lifted by blue chips including Genting and banking stocks.

Gainers beat losers by 593 to 171, while 248 counters traded unchanged. Volume was 1.06 billion shares valued at RM1.38 billion.

At the regional markets, Hong Kong's Hang Seng Index rose 2.43% to 18,141.59, Taiwan's Taiex gained 2.59% to 7,398.71, South Korea's Kospi added 1.62% to 1,795.02, Japan's Nikkei 225 1.95% to 8,773.68, Singapore's Straits Times Index up 0.93% to 2,693.05 and the Shanghai Composite Index up 0.16% to 2,348.52.

On Bursa Malaysia, Hong Leong Bank gained 48 sen to RM10.72, RHB Capital 27 sen to RM6.80, HLFG 14 sen to RM10.88, CIMB 10 sen to RM7.25, Maybank and AMMB five sen each to RM8.25 and RM5.88, while Public Bank rose two sen to RM12.34.

Other gainers included Genting that rose 41 sen to RM9.50, Amway 32 sen to RM8.68, Ibraco 31 sen to RM1.46, Nestle 30 sen to RM49.50, Dutch Lady 28 sen to RM18.62, KLK 26 sen to RM20.60 and Perstima 25 sen to RM3.86.

Losers included AIC that fell 25 sen to RM1.20, Asia File 10 sen to RM3.50, F&N and Top Glove eight sen each to RM16.22 and RM4.07, Ulicorp 7.5 sen to 74.5 sen, while Inno'' fell six sen to RM1.16.

The actives included Timecom, SAAG, Dutaland, AirAsia, UEM Land, Iris Corp, Malton and Tejari.



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