Friday, October 7, 2011

KLCI closes above 1,400-level, extends gains for third day

KUALA LUMPUR: The FBM KLCI extended its gains for the third day on Friday, Oct 7 and closed above the 1,400-point level for the first time Sept 21, as the local bourse recovered to end the day in positive territory while Budget 2012 was being tabled.

Among the highlights of Budget 2012 was the announcement that FELDA Global Ventures Holding (FGVH) would be listed on Bursa Malaysia by mid-2012 to raise funds for the company to be a global conglomerate

Prime Minister Datuk Seri Najib Tun Razak said the listing would create another blue chip PLANTATION [] company besides attracting international investors to Bursa Malaysia.

The FBM KLCI rose 0.46% or 6.36 points to close at 1,400.05.

Gainers edged losers by 374 to 339, while 272 counters traded unchanged. Volume was 964.67 million shares valued at RM1.31 billion.

Among the gainers, KLK added 60 sen to RM20.62, Perstima 34 sen to RM3.98, Panasonic 32 sen to RM19.70, IOI Corp 27 sen to RM4.82, GAB 20 sen to RM9.90, Quality Concrete and Tenaga 16 sen each to RM1.40 and RM5.38, while LPI Capital and Southern Steel rose 14 sen each to RM11.92 and RM2.03.

MBSB's securities were actively traded, as analysts say the company stood to benefit should there be a wage adjustment in the Budget for civil servants.

MBSB rose 7 sen to RM1.54 with 39.6 million shares done while its warrants rose half a sen to 63 sen with 79.1 million units done.

Other actives included Karambunai, GPRO, MAA, Systech and Timecom.

Losers included Dutch Lady, Shell, Cepco, Supermax, MISC, SapuraCrest, MMC Corp and JT International.


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