Wednesday, October 5, 2011

KLCI snaps losing streak, blue chips gain

KUALA LUMPUR: The FBM KLCI snapped its losing streak and bounced strongly in early trade on Wednesday, Oct 5, in line with the overnight gains at Wall Street and positive opening at most regional markets.

Asian stocks regained some footing on Wednesday, after tentative signs that European leaders were stepping up their efforts to stop the region's sovereign debt woes from sparking a full-blown banking crisis.

European finance ministers agreed on Tuesday to safeguard their banks as doubts grew about whether a planned second bailout package for debt-laden Greece would go ahead.

The FBM KLCI rose 12.44 points to 1,373.82 at 9.05am.

Gainers led losers by 128 to 28, while 63 counters traded unchanged. Volume was 32.3 million shares valued at RM31.69 million.

Among the early gainers were Petronas Dagangan, BAT, Top Glove, DiGi, PPB, Supermax, Genting Plantations, IOI Corp, HLFG and Hong Leong Bank.

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